History Standard 3 Vocabulary Flashcards
Captains of Industry
Business leaders whose means of amassing a personal fortune contributed positively to the country in some way
Robber Barons
A name used to identify wealthy entrepreneurs who were known to be crooked in their business dealings
Andrew Carnegie
Controlled the steel industry
JP Morgan
Controlled banks, insurance companies, and various stock market operations
Henry Ford
Founder of Ford Motor Company and invented the famous Model T car, also introduced several innovations, including the moving assembly line
John Rockefeller
Founder of Standford oil and nation’s first trust (monopoly)
Collective Bargaining
Process in which employers negotiate with labor unions about hours, wages, and other working conditions
Labor Unions
Organizations of workers that represent the collective interests of laborers in negotiations with employers
Laissez-faire
Lenient, as in the absence of government control over private business
Philanthropy
The act of voluntary giving by individuals or groups to promote the common good
Political Machines
Organizations linked to a political party that often controlled local government
Sherman Anti-Trust Act
1890 law banning any trust that restrained interstate trade or commerce
Social Darwinism
The belief held by some in the late nineteenth century that certain nations and races were superior to others and therefore destined to rule
Strikes
Organized stoppage of work conducted by laborers in order to impose bargaining power against employers
Monopolies
Exclusive control by one company over an entire industry
16th Amendment
Congress has the power to lay and collect taxes on incomes from whatever source derived
17th Amendment
Established the direct election of United States senators in each state
18th Amendment
Prohibited the manufacture, sale, or transportation of alcohol