Unit 6: Important Concepts Flashcards
stock watering
an asset that is artificialy inflated. comes from when railroads would ship cows, they would force them to drink water before weighing to increase their weight and their value at market.
horizontal integration
controlling all of one type of business. example would be rockafeller, who controlled nearly all oil refineries.
pool
a bunch of people with money, established to manipulate prices
trust
a bunch of businesses in the same industry who gather together to manipulate prices.
injunction
a legal order against strikes. businesses could get an injunction against strikes to make them illegal.
rebate
a refund of some of the money paid
interlocking directorate
when people sit on the board of directors for multiple companies, which means they don’t want to mess with other companies that they also get money from.
yellow dog contract
a contract that made not joining a union a condition of employment. join a union and get fired.
gilded age
the term given to this time period by mark twain, referring to his idea that society really sucked but had a thin layer of gold over the whole thing.
cheap money
credit with super low interest
hard/sound money
credit given against real estate
the bloody shirt
a political technique, associating the opposite side with being un-american
evolution
theory that kind of lead to social darwinism. society will work itself out, and whatever happens is exactly what should happen.
yellow journalism
journalism without any facts behind it, bad journalism.
settlement house
an organization that was trying to get the rich and the poor to live closer together.
philanthropy
giving money to charities.
land grant
land given by the government, usually due to things like military service.
vertical integration
controlling all parts of an industry, from raw resource to retail
social gospels
the government should help the poor, socialism
gospel of wealth
the poor should just work harder, then they wouldn’t be poor!
new south
the south without slavery and stuff, supposed to be way better, a better economy and all that jazz.
bessemer process
the processing of pig iron into steel
pragmatism
pragmatism the concept that the truth of any idea was to be tested, above all, by its practical consequences
nativism
essentially, everyone hates people who immigrate, even though they are immigrants.
long drive
running cattle from texas and other great plains areas to the railroad to sell. ended by barbed wire.
ghost dance
a dance by the natives that was supposed to get rid of the white men in their land, white people got skittish and it led to the wounded knee massacre, lotsa indians killed.
free silver
Movement for using silver in all aspects of currency. Not adopted because all other countries used a gold standard.
sixteen to one
Movement for using silver in all aspects of currency. Not adopted because all other countries used a gold standard.
