Unit 6: The Industrial Revolution (1865-1898) Flashcards
Thomas Edison
invented the light bulb, pioneering work in the development of power plants
Age of Invention
the last quarter of the 19th century; many technological advances
Mass Production
caused by technological advances
Economies of scale
cost decreases and production increases
Assembly line production
began with Eli Whitney’s interchangeable parts, expanded in Ford’s plants
workers performed a single task repetitively for hours
Factories
dangerous - machine malfunctions - injuries
long hours (12-14)
assembly line production
Corporate Consolidation
little government intervention and pro-business Supreme Court = little restraint on businesses to grow
Holding company
owned enough stock in various companies to have a controlling interest in the production of raw material, transporting it to factories, and distributing the product
Monopoly
complete control of an entire industry
Horizontal integration
created monopolies within a particular industry (ex. Standard Oil created by John D. Rockefeller)
several smaller companies within the same industry are combined into a larger company by being bought or through ruthless business practices - illegal
Vertical integration
legal - allows other companies in the same industry to survive and compete
one company buys out all of the factors of production
Problems from corporate consolidation
costly –> borrowed money but banks failed with businesses failed
lower classes suffered - scarce jobs and money
created class of extremely powerful men –> increased public resentment and govt laws to restrict monopolies
Sherman Antitrust Act of 1890
forbid any “combination…or conspiracy in the restraint of trade”
ambiguous wording = many interpretations
US v. E.C. Knight Co
Supreme Court ruled that the company (owned 98% of sugar refining plants in US) did not violate Sherman Antitrust Act because local manufacturing was not subject to congressional regulation of interstate commerce
declared unions illegal (“restraint of free trade”)
Andrew Carnegie
Steel mogul
promoted Social Darwinism, against government regulations, supported government assistance to business, supported Gospel of Wealth
Social Darwinism
in business, unrestricted competition only allowed the “fittest” to survive
Gospel of Wealth
with great wealth brought social responsibility
philanthropy (not charity)
Social Gospel
promoting public health and education to improve the lives of the poor
worked to abolish child labor and limit working hours
Employment of women and children
employed to reduce labor costs
employment of immigrants
anxious for work = reduced labor costs
Cities
poverty - crime, disease, lack of housing, dangerous factories, no insurance or workmen’s compensation
made up of immigrants and migrants
Advances in mass transportation
railroads, streetcars, and subways –> movement of middle class to nicer neighborhoods
New Immigrants
came from Southern and Eastern Europe (previously from northern and western)
prejudice = settled in ethnic neighborhoods and tenements
Black and Latino migrants
employers only gave them the worst jobs