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Industry & Big Business

Amercian History: Industry, Inventions, and Big Business

AB
Thomas Edisoninventor of incandescent light bulb
Bessemer Processtechnique used to make steel from iron
Christopher Sholesinvented typewriter
Alexander G. Bellinventor of the telephone
George Pullmaninventor of the sleeping car
Credit Mobiliername of company involved in stealing railroad money
Interstate Commerce Actlaw granting congress authority to regulate railroad activity
Andrew Carnegiesteel magnate
vertical integrationprocess in which a company buys out its suppliers
horizontal integrationprocess in which companies producing similar products merge
monopolyone company controls an entire industry
John D. Rockefellermade money refining oil
holding companycorporation that bought out the stock of other companies
trustone corporation formed by separate companies
Sherman Anti Trust Actlaw forbid any thing that was "in restraint of trade"
Samuel Gompersleader of the American Federation of Labor
American Federation of Laborunion still around today that unites skilled workers
Eugene V Debsleader of American Railway Union
socialismsystem based on govt. control of business and property
scabreplacement worker
Industrial Workers of the World (IWW)Union of radicals and socialists
collective bargainingnegotiations between workers and mangagement to reach an agreement on wages , hours , etc.
arbitrationnegotiations between workers and management through an impartial third party
Haymarket Riotviolence erupted outside McCormick Reaper Factory
Triangle Shirtwaist Firecaused outrage, strict fire codes, 54 hour maximum work week for women, prohibition of Sunday work
Herbert Spencercame up with concept of "Social Darwinism"
Social Darwinismconcept that survival fo the fittest was true in the business world
philanthropyaction benefitting society
Robber Baronspost civil war figures who made money by legal, but unethical means
gaugewidth of the railroad track
Gail Bordencreated condensed milk
Gustavus Swiftbecame successful in the meat packing industry
Cornelius Vanderbiltrailroad and shipping tycoon
laissez faireterm for lack of govt. interference in business
railroadindustry that instituted time zones.
Powderly and Stephensled the Knights of Labor
Knights of Laborunion that allowed all people regardless of race, gender, or degree of skill
Big Bill HaywoodIww Leader
Samuel Morseinventor of telegraph and a code used to send messaages by telegraph
political machinegroup that controlled a political party
graftillegal use of political influence for personal gain
kickbackillegal payment of a portion of one's earnings to someone else
Tammany HallA powerful political machine in New York City
Tweed RingGroup of corrupt politicians led by Boss William Marcy Tweed
Thomas NastPolitical cartoonist who ridiculed Boss Tweed
patronagegiving of govt jobs to supporters
civil servicethe entire govt. administration
Pendleton ActAct that implemented merit system in civil service hiring
Gilded Ageperiod between 1870's and 1890's where the nation appeared healthy and strong but faced corruption and a widening gap between the rich and the poor
Boss Tweedleader of powerful NYC political machine
Homesteadsite of Carnegie Steel strike; as a result no steel union was in effect for over 40 years


American History
Northshore High
Slidell, LA

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