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Abby US History Vocab

Bessemer Process A process of making steel from pig iron by burning out carbon and other impurities by means of a blast of air forced through the molten metal
Christopher Sholes An American inventor who invented the first practical typewriter and the QWERTY keyboard still in use today.
Alexander Graham Bell an eminent scientist, inventor, engineer and innovator who is credited with inventing the first practical telephone.
Transcendental Railroad a contiguous network of railroad trackage[1] that crosses a continental land mass with terminals at different oceans or continental borders.
Credit Mobilier a large French bank
Munn V. Illinois a United States Supreme Court case dealing with corporate rates and agriculture.
Interstate Commerce Act a United States federal law that was designed to regulate the railroad industry, particularly its monopolistic practices.
Vertical Integration a style of management control.
Horizontal Consolidation a strategy used by a business or corporation that seeks to sell a type of product in numerous markets.
Social Darwinism an ideology of society that seeks to apply biological concepts of Darwinism or of evolutionary theory to sociology and politics, often with the assumption that conflict between groups in society leads to social progress as superior groups outcompete infer
Monopoly when a specific person or enterprise is the only supplier of a particular commodity
Holding Company is a company or firm that owns other companies' outstanding stock.
Trust is a relationship whereby property (real or personal, tangible or intangible) is held by one party for the benefit of another.
Sherman Anti-Trust Act It prohibits certain business activities that federal government regulators deem to be anticompetitive, and requires the federal government to investigate and pursue trusts, companies, and organizations suspected of being in violation.
American Federation of Labor was one of the first federations of labor unions in the United States.
Collective Bargaining is a process of negotiations between employers and a group of employees aimed at reaching agreements that regulate working conditions
Created by: kyledoescher