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Ch 17-18 Gilded Age
Industrial Age US, Captains of Industry, and presidents of the age: 1870-1900
| Term | Definition |
|---|---|
| Monopoly | A Corporation or group of Corporations who own the vast majority of influence in a market or multiple markets. |
| Laissez-faire | Free market capitalism with no government intervention; professed by citizens in an idea that the markets are self-regulating. |
| American Federation of Labor (AFL) | Established in 1886; practical successor to the Knights of Labor; initially focused on utopian reforms, but then focused on more grassroots efforts such as wage increases. |
| Interstate Commerce Act | Passed in 1887; intended to unite railroad companies and limit their competition amongst themselves. Established the ICC. |
| Knights of Labor | Founded in 1869; Jacksonian style garment labor organization, they focused on subjects not directly focused on labor issues. |
| National Grange of the Patrons of Husbandry | Founded in 1867; advocate for railroad regulation and to provide social and cultural benefits to rural communities |
| Sherman Antitrust Act | Trusts and Monopolies were declared illegal by this law in 1890. Used to attempt to restore competition and lower prices. |
| Social Darwinism | Socioeconomic idea that capitalism is a reflection of "survival of the fittest"; or simply people in business relations should act without restriction in order to see who truly is the fittest for any certain position. |
| J. P. Morgan | A captain of industry who owned the vast majority of banking wealth. Very capable financier to other captains of industry. |
| Interstate Commerce Commision | Established as a part of the Interstate Commerce act, it was intended to supervise and regulate railroad activities. |
| John D. Rockefeller | Founder of Standard Oil; Builder of one of the first and strongest Monopolies of the age which owned 90% of the market in Oil. |
| Haymarket Bombing | Anarchist bombing in Chicago in the year 1886. |
| Andrew Carnegie | Founder of Carnegie Steel Company which became the largest steel conglomerate. |
| Munn v. Illinois | Passed in 1877; Allowed state legislatures to regulate economic enterprises. |
| Social Gospel | Gospel taught by churches who preached good works and improving general living conditions rather than saving souls. |
| Nativism | Nationalist idea which arose in conflict with communists and anarchists. It disenfranchised immigrants of all kinds, including europeans. |
| Settlement Houses | Community houses which allowed services to those who would never be able to afford them such as a proper education. |
| Tenement | Weak wooden structures built in cities that were used to house the poor who worked in factories. They provided horrible living conditions and no proper utilities. |
| Marxism | Socioeconomic response to capitalism formulated by Karl Marx. It advocates for people working together and nationalizing industry and dismantling private industry. |
| Anarchism | Political Ideology which arose in the U.S. as a response to government corruption by lobbyists and monopolies. |
Created by:
will.from.high.school.
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