Gilded Age and Progressive Era Flashcards
social class and mobility
the ability to move throughout economic and social classes
meritocracy
government and leaders will be elected and kept in office with that skills
income gap
we watched a video on income inequality today in class (I just posted the link on the calendar for today, 3/3, so you can watch it again if you need to) that describes the myth in America today. Most Americans think that wealth distribution is more fair than it actually is and actually want the wealth to be more fairly distributed. the top 1% controls 40% of all the wealth in America and some other statistics show how much income inequality there is between the rich and the poor. income inequality was also terrible during the Gilded Age and would eventually contribute to the Great depression
Brooklyn bridge
one of the wonderful achievements of the Gilded Age that could not have happened without the invention of steel. the steel cables are what allow the bridge to span the East River. built largely by immigrant labor
Boss Tweed/ Tammany Hall
BOSS TWEED was able to scam the government (no, he was the government! he was voted into office by taxpayers who were often poor and who he was helping through the political machine) through corruption by increasing taxes and pocketing the extra cash from the government funds.
Andrew Carnegie/ Steel
Was born in Scotland and was one of the few examples of someone working their way from poverty to the top class. He claimed he had respect for his workers, but just wanted to make money. Steel: made most of his wealth in steel business.
Homestead Strike(Carnegie)
Manager-Frick wanted to cut wages in half and broke the Amalgamated and Association of Steel Workers (a union) and Carnegie wasn’t able to do anything about it. resulted in a violent strike. Frick tried to stop the strike with the private army. blamed it on the workers who got charged with murder and lesser crimes.
Strikebreakers
STRIKEBREAKERS- workers, typically new immigrants, who are brought in by factory owners to “break” a strike by workers who are protesting for higher wages or better working conditions. These strikebreakers often worked for even lower wages than those who were on strike and were often targeted by the workers who were fired.
Tenements
very poor living conditions. multiple families lived in a very small space.
Philanthropy (Carnegie, Rockefeller, Gates)
The idea of giving wealth to charity; usually in support of the arts, education,
medical research.
George Eastman
philanthropist, very different from father. gave $2 billion away. helped build colleges. built one of the greatest music schools in the world. contributed to the education of African Americans. Significance: gave money away anonymously
Robber barons
derogatory term applied to
wealthy and powerful American
businessmen who abused their employees in order to gain wealth.
John Rockefeller
made his money from oil
Thomas Edison
electricity, inventor, light bulb
Monopoly
when one company controls an entire industry, it is bad for consumers because they can set whatever price they want. and bad for innovation because the company has no competitors and bad for the economy because there are no new businesses being created because the monopoly crushes them. (also referred to as a trust or combination during the Gilded Age)
Conspicuous Consumption
doing something that shows you have a lot of money; competition to keep up with the wealthy
Social Darwinism
ideaology that twisted Charles Darwin’s theory of natural selection and survival of the fittest to apply to humans. those who followed this philosophy believed that the weakest members of society , or those who were “unfit” should be left to die off so he human race would be stronger.
14th amendment and corporations
supreme court ruled that a corporation had the same rights as a person.