Module 3 Flashcards

1
Q

Who is Edwin L. Drake?

A

American Petroleum industry pioneer; he drilled the first commercial oil well int he U.S. drawing oil prospectors to the west.

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2
Q

Who is Mary Harris Jones?

A

Irish-American labor organizer; she helped organize coal miners int he Great Strike of 1877, and led a march of injured children worker to expose the crudities of child labor.

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3
Q

Who is Eugene V. Debs?

A

Leader of the American Railway Union and supporter of the pullman strike; he was the Socialist Party candidate for president five times.

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4
Q

Who were the Industrial Workers of the World (IWW)

A

A labor organization for unskilled worked formed by a group of radical unionist and socialist in 1905.

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5
Q

What is the American Federation of Labor? (AFL)

A

An alliance of trade and craft unions formed in 1886.

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6
Q

What is collective bargaining?

A

Negotiation between employers and an organized group of employees on conditions of employment such as wages or hours.

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7
Q

Who is Samuel Gompers ?

A

An American labor leader who helped fund the American Federation of Labor to campaign for workers rights.

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8
Q

What is the Sherman Antitrust Act?

A

A law enacted in 1890 that was intended to prevent the creation of monopolies by making it legal to establish trust that interfered with free trade.

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9
Q

What is a monopoly?

A

Having complete control in the marketplace without any outside competition.

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10
Q

What is a trust?

A

A business organization in which competing companies are under the control of a single group of Trustees.

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11
Q

Who is John D Rockefeller?

A

An American industrialist and philanthropist he made a fortune in the oil business and use vertical and horizontal integration to establish a monopoly on the oil business.

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12
Q

Who is JP Morgan?

A

An American Banker he made a fortune taking over and merging businesses built by others building a reputation for turning around mismanaged companies and making them more efficient.

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13
Q

What is horizontal integration?

A

The merging of companies that make similar products.

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14
Q

What is vertical integration?

A

A company taking over its suppliers and transportation to gain control over the quality and cost of its product.

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15
Q

What is social Darwinism?

A

An economic and social philosophy supposedly based on the biologist Charles Darwin’s theory of evolution by natural selection, holding that a system of unrestrained competition will ensure the survival of the fittest.

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16
Q

What is laissez-faire?

A

In French, “laissez-faire” means “to let do.” It is a form of capitalism that allows companies to conduct business without intervention by the government.

17
Q

Who is Andrew Carnegie?

A

An American industrialist and humanitarian who focused on steel making and made a fortune through his vertical integration method.

18
Q

What is the Interstate Commerce Act?

A

A law enacted in 1887 that reestablished the federal government’s right to supervise railroad activities and created a five-member Interstate Commerce Commission to do so.

19
Q

What is Munn vs. Illinois?

A

A 1877 case in which the Supreme Court upheld states’ regulation of railroads for the benefit of farmers and consumers, thus establishing the right of the government to regulate private industry to serve the public interest.

20
Q

What is Credit Mobilier?

A

A construction company formed in 1864 by owners of the Union Pacific Railroad who used it to fraudulently skim off railroad profits for themselves.

21
Q

Who is Cornelius Vanderbilt?

A

An American business leader who controlled the New York Central Railroad and up to 4,500 miles of railroad track.

22
Q

What is the Transcontinental Railroad?

A

A railroad line linking the Atlantic and Pacific coast of the United States, completed in 1869.

23
Q

Who is George M. Pullman?

A

An American industrialist and owner of the Pullman Palace Car Company. He invented the railroad sleeping car, started a factory to build them, and founded the town of Pullman, Illinois to house his workers.

24
Q

Who is Alexander Graham Bell?

A

An American inventor and educator whose interest in electrical and mechanical devices to aid the hearing impaired led to the development and patent of the telephone.

25
Q

Who is Christopher Sholes?

A

An American inventor and newspaper editor who invented the typewriter in 1867, which changed the world of work.

26
Q

Who is Lewis H. Latimer?

A

An African American inventor who invented the carbon filament and played a key role in helping Thomas Edison develop a long-lasting incandescent light bulb.

27
Q

Who is Thomas Alva Edison?

A

An American inventor with over 1,000 patents. He invented the light bulb and established a power plant that supplied electricity to parts of New York City.

28
Q

What is the Bessemer process?

A

A cheap and efficient process for making steel, developed around 1850.