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Freshman flashcards > Unit 1 SS honors- Industrialization > Flashcards

Unit 1 SS honors- Industrialization Flashcards

1
Q

What is the Bessemer Process?

A
  • a technique used to convert large quantities of iron into steel
  • developed by Henry Bessemer in the 1850’s
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2
Q

Uses of steel?

A
  • railroads
  • barbed wire
  • farm machines
  • suspension bridges
  • frame buildings
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3
Q

Edwin Drake

A

successfully used a steam engine to extract oil from below the earth’s surface (Titusville Pennsylvania)

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4
Q

Etienne Lenior

A

constructed the first practical internal combustion engine

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5
Q

Thomas Edison

A
  • ## invention factory in 1876; Menlo Park, New Jersey
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6
Q

Edison Electric Light Company

A
  • 1880 patented the incandescent light bulb
  • Direct current (DC)
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7
Q

George Westinghouse

A
  • high voltage alternating current (AC)
  • made electricity cheaper and more efficient
  • developed the electric motor in 1886
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8
Q

Impact of electricity

A
  • factories
  • public transportation
  • Home use
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9
Q

Telegraph

A
  • Samuel Monroe
  • sent the first message using an electrical wire in 1844
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10
Q

Telephone

A
  • Alexander Graham Bell
  • invented in 1876 with Thomas Watson
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11
Q

Typewriter

A

Invented by Christopher Sholes in 1867

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12
Q

Kodak Camera

A

invented by George Eastmen in 1888

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13
Q

Industrial Boom was due to what 3 factors

A
  • a wealth of Natural Resources
  • gov. support for uisness
  • immagration and a growind urban population
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14
Q

Factors of Production

A
  • Natural Resources
  • labor
  • capital
  • entrepeneurs
  • favorable government
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15
Q

How did the railroad fuel the growing US economy?

A
  • 1st big buisness in the US
  • a magnet for financial investment
  • key to opening the west
  • aided the development of other industries
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16
Q

Technological innovations

A
  • Bessmer and open heareth process
  • refrigarated cars
  • edison
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17
Q

Air plane

A
  • Wilbur and Orville Wright
  • Kitty Hawk, North Carolina - December 7, 1903
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18
Q

Model T Automobile

A

Henry Ford

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19
Q

Laissez Faire

A
  • individuals as a moral & economic ideal
  • inidividuals should compete freely in the market place
  • the market was not man-made or invented
  • no room for government in the market
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20
Q

captain of industry

A

others were ethical and did stuff to help others

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21
Q

robber bearon

A

some buisness people would do something unethical to get advantage

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22
Q

Social Darwinism

A
  • british economist
  • advocate of laissez-faire
  • adopted Darwin’s ideas from the “Origin of Species” to humans
  • notion of “survival of the fittest”
    (robber bearon)
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23
Q

Social Darwinism in America

A
  • individuals must have absolute freedom to struggle succeed or fail
  • state intervention to reward society and the economy is futile
    (William Graham Summer Folkways, 1906)
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24
Q

New business entities; pool

A

1887- Interstate commerce act
- Interstate commerce Commision created

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25
Q

New Business Entities; trust

A

(John D Rockefeller)
-standard oil co.
- horizontal integration
- vertical integration
(Gustavus Swift - meat packing)
(Andrew Carnegie - U.S. steel)

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26
Q

Advantages of corporations

A
  • could raise large sums of $ quickly by selling ‘stock certificates’
  • out lived it”s owners
  • limited liability
  • professional management
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27
Q

New type of Business Entities

A
  1. Production of raw materials (oil is pumped out of the ground)
  2. Transportation of raw materials (crude oilmoves to refineries)
  3. Processing (refineries transform crude oil into kerosene, lubricating oil and parafinn)
  4. Transportation (finished products go to retails stores)
  5. sale to consumer
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28
Q

New Financial Businessman; the broker

A

J. Pierpoint Morgan - known for picking up sick companies, fixing them, change them and make them one and compete

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29
Q

Reorganization or work

A

Fredrick W. Taylor
The principles of Scientific Management (1911)

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30
Q

William Vanderbilt

A
  • railroad
  • the public be damned
    -philanthropist
    directed several plays
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31
Q

Gospel of Wealth: Religion in the Era of Industrialization

A
  • wealth no longer looked upon as bad
  • viewed as a sign of God’s approval
  • Christian duty to accumalate wealth
  • Should not help the poor
    Russ\ell H. Conwell
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32
Q

“On Wealth”

A
  • “Gospel of Wealth” (1901)
  • Inequality is inevitable and good
  • wealthy should act as “trustees for their “poorer brethren”
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33
Q

Regulating the Trusts

A
  • 1870; Munn. v. IL
  • 1886; Wabash, St. Louis & Pacific Railroad company, IL
  • 1890; Sherman Antitrust Act
  • 1895; US v. E.C. Kinight Co.
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34
Q

Sherman Antitrust Act

A
  • 1890
  • in “restraint of trade”
  • “rule of reason” loophole
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35
Q

Business Strategies

A
  1. products made more cheaply
  2. stock options for employees
  3. Vertical Integration
  4. Horizontal Integration
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36
Q

Vertical Integration

A

A process in which a corporation buys out all their suppliers in order to control the raw materials and transportatoins systems
- Carnegie; coal fields, iron mines, ore freighters, & railroad lines

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37
Q

Horizontal Integration

A

the buying out of competeing companies
- Carnegie; buying out of steel products

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38
Q

Types of Businesses

A
  • Proprietorship
  • Partnership
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39
Q

Proprietorship

A

Individual decision of buisness person who starts it alone or buys from another
(small buisness owner)

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40
Q

Partnership

A

Two or more persons going into buisness by terms of a partnerhsip agreement
(Robertson and robertson Attorneys at Law)

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41
Q

Child labor

A
  • kids would work in mines and factories for 12 hours making barely any money
  • no accountability from factory if an accient occurs
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42
Q

Tools of management

A
  • scabs
  • P.R. campaign
  • pinkertons
  • lockout
  • blacklisting
  • yellow-dog contract
  • court injunctions
  • open shop
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43
Q

Tools of labor

A
  • boycotts
  • sympathy demonstrations
  • informantional picketing
  • closed shops
  • organized strikes
  • wildcat strikes
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44
Q

Knights of Labor

A
  • National labor union
  • Terrence V. Powderly
  • first national union (first leader)
  • believed you should accept all workers
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45
Q

Goals of Knights of Labor

A
  • 8 hour workday
  • workers’ cooperatives
  • worker-owned factories
  • abolition of child and prison labor
  • equal pay for men and women
46
Q

American Federation of Labor

A
  • Samuel Gompers
  • catered to the skilled worker
47
Q

How the AFL would help the workers

A
  • catered to the skilled worker
  • strike fund
  • closed shops
48
Q

What did Samuel Gompers believe in?

A

gradual gains in bread and butter issues; salary

49
Q

What is a strike fund?

A

If the worker’s did go on strike they would still make just alittle bit of money while they were on strike

50
Q

What is a Scab?

A

Replacement worker

51
Q

What did a P.R. campaign do?

A

made the work place sound positive

52
Q

What was a pinkerton?

A

Hired thugs

53
Q

What was a yellow-dog contract?

A

a contract managemant would make you sign saying that you wouldn’t join a union

54
Q

What was a court injunction

A

Used the courts as weapons to get rid of leader

55
Q

open shop

A

claim to open hire but only hire non-union

56
Q

sympathy demonstration

A

“looking at these horrible working conditions…” trying to gain the public’s sympathy and show how terrible the working conditions are and how terribly they are treated

57
Q

informational picketing

A

talked about the wages, deaths, terrible conditions, etc.

58
Q

closed shops

A

only hire union members

59
Q

organized strikes

A

your union organized a strike

60
Q

wildcat strikes

A

based off emotion; angry mobs, gun etc.

61
Q

entrepreneur

A

risk taking buisness person

62
Q

capital

A

finance $ or property that can be used to produce more wealth

63
Q

monopoly

A

complete control over an industry’s production, wages, & prices

64
Q

natural monopoly

A

a situation where for technical or social reasons there cannot be more than one efficent provider of a good. Public utilities are usually considered to be natural monopolies

65
Q

corporation

A

company formed by a group of investors who each recieve a share of ownership in proportion to the amount they invested

66
Q

ways cortporations raised money

A
  • bonds
  • stocks
67
Q

Bonds

A

debt, capital the company borrowed from an investor

68
Q

stocks

A

share of ownership a company

69
Q

holding companies

A

existed only to own stock in other companies

70
Q

trust

A

formed when several companies gave control of their operations to a single board of trustees

71
Q

What did the International workers of the World believe in

A

(vertical)
- more wages
- better working conditions
- shorter hours
- emancipation

72
Q

“Big Bill” Haywood of the I.W.W.

A
  • leader of the I.W.W.
  • believed violence was justified to overthrow capitalism
73
Q

Mother Jones “The Miner’s Angel”

A
  • Mary Harris
  • Organizer for the United Mine Workers
  • Founded the Social Democratic Party in 1898
  • One of the founding members of the I.W.W. in 1905
74
Q

The “Formula”

A

unions + violence + strikes + socialists + immigrants = anarchists

75
Q

What industry created the first corporation?

A

the railroad

76
Q

What happened to prices during competitions

A

during- prices are low
after- prices are high

77
Q

Andrew Carnegie

A

philanthropy, would buy a dying business and fix it up then merge it with other businesses he bought and fixed

78
Q

what was the first big buisness in america

A

railroad

79
Q

economies of scale

A

being able to mass produce things

80
Q

What we now know as standard time, with the continental U.S. divided into four zones, originally was called:

A

railroad time

81
Q

The late 1800s was a time of explosive growth in inventions. What these many innovations of the era had in common,

A

they were made into systematic businesses.

82
Q

To pay for building the myriad industrial systems and facilities needed to industrialize America, the following development didn’t occur

A

foreign governments invested heavily in U.S. industry for both political and economic reasons.

83
Q

Which is a true statement about forms of business organization?

A

The trust was a device to enlarge corporate power by jointly controlling and managing once-competing firms through a central board of directors.

84
Q

Was not an advantage of the corporate form of business organization

A

it designated a person personally responsible by law for corporation debts.

85
Q

Where did the bulk of the manpower come from to work in the many new factories?

A

from the rural areas of America, from southern and eastern Europe

86
Q

It was an essential system undergirding the rise of big business; it was itself big business; it was a cultural symbol of American industrialization; it was a stimulus to other enterprises because it consumed so many natural resources. It was:

A

the railroad system

87
Q

salt pool: pooling

A

(horizontal) when there is multiple of the same business that are competing against each other then they “pull” their resources together and make all there prices the same

88
Q

what was not true of the wave of corporate mergers after 1893

A

With the stability that came through the rise of big business, Americans enjoyed less extreme cycles of boom and bust.

89
Q

Although the traditional ideology of capitalism stresses the benefits of free competition, large corporations suffered from the competitive environment. What economic factor made businesses—railroads in particular—seek to minimize competition?

A

high fixed costs

90
Q

A true Social Darwinist like William Graham Sumner would accept:

A

business bankruptcies.

91
Q

advocated what was called “Social Darwinism?”

A

Herbert Spencer

92
Q

advocated what he called a “single tax?”

A

. Henry George

93
Q

The American Federation of Labor was comparatively successful because it:

A

stressed gradual, concrete gains for its members.

94
Q

What statement about the worker’s world of the 1880s and 1890s is true?

A

The U.S. suffered from the highest rate of industrial accidents in the world.

95
Q

What did Samuel Gompers stress in the AFL

A

bread and butter issue: wages

96
Q

For ordinary workers to affect the industrial order, they had to develop their own kind of integrated system; specifically, they had to pursue:

A

unionization

97
Q

They prescribed not only an economic system, but a Christian moralistic social plan. They were:

A

the American Federation of Labor

98
Q

Trust in oil

A

John D. Rockefeller

99
Q

merger master in steel

A

J. Pierpoint Morgan

100
Q

integration in steel

A

Andrew Carnegie

101
Q

photography for ordinary folk

A

George Eastman

102
Q

productivity through efficency

A

fredrick taylor

103
Q

innovation through systems of invention

A

thomas edison

104
Q

A racist theme threaded through the European drive for overseas dominions in the late nineteenth century, justified by a theory known as ___________, which proclaimed that the fittest race would prevail.social

A

social darwinism

105
Q

The Bessemer process, one of the new technologies that accelerated the use of natural resources, converted a raw mineral into ________.

A

steel

106
Q

Edwin Drake in 1851 was able to tap into another resource that became a major industry, _________.

A

oil

107
Q

“At the center of the new industrial systems,” according to your text, was the __________, aiding transportation and communication, and even redefining time itself

A

railroad

108
Q

David McCallum of the New York and Erie, who had drawn up the first business table of organization, exemplified the ___________ revolution, a process of organizing large corporations in order to rationalize business practices.

A

managerial

109
Q

At first, ____________served merely as advisors to railroads and other corporations; with such a stake in controlling funds, they eventually found themselves taking control for the purpose of imposing order and centralization.

A

investment banker

110
Q

If a company buys up competing companies engaged in the same activity, it is called ________ growth.

A

horizontal

111
Q

If a company acquires all the stages in the production process from raw materials to retail sales, it is called _________ growth

A

vertical

Freshman flashcards (5 decks)

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