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Industrialization

TermDefinition
Social Darwinism the idea that the marketplace should not be regulated, since the fittest succeed in business and the weak are eliminated
horizontal integration when companies producing similar products merge or are eliminated to get rid of competition
trust a company that holds all the stock of a certain kind of business-- eliminates competition
socialism economic theory that states the means of production, distribution, and exchange should be owned by the people as a whole, not individuals
Chinese Exclusion Act Congressional Act banning entry to the US for all Chinese except students, teachers, merchants, tourists, and govt. officials
Gentlemen's Agreement Agreement Japan made with the US-- limited Japanese emigration to the US in exchange for the repeal of a San Francisco Japanese segregation order in schools
nativism overt favoritism toward native-born Americans
political machine organization that offers services to voters and businesses in exchange for political or financial support
settlement houses community centers in slum neighborhoods that provided assistance to people in the area, especially immigrants
Americanization social campaign designed to assimilate immigrants into American culture
monopoly the exclusive possession or control of the supply or trade in a commodity or service
Boss Tweed the head of Tammany Hall, a powerful political machine dominating New York politics in the mid-19th century
vertical integration process of buying out suppliers of raw materials and transport to reduce costs
laissez-faire "allow to do"-- the idea that business should be left alone to do its thing without government intervention
Bessemer Process the process of injecting air into molten iron to remove impurities-- the process allows for the making of a lot of cheap, high-quality steel
Pullman Strike Strike in which the workers of the Pullman Co. tried to get better wages-- broken up by government troops
Created by: willsong