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Soc. Studies 8 Vocab

IV Unit 2

Industrial Revolution Shift from an economy based on farming and production by skilled craftsmen, to economy in which goods are mass produced (often on assembly lines) by unskilled workers who use machines and interchangeable parts to quickly and easily create goods.
Social Darwinism The application of the “survival of the fittest” theory to human society. Many believed that people who were poor or less powerful must be inferior.
Capitalism An economic system in which there is private property, and the laws of supply and demand dictate prices and production levels.
Robber Baron A bad industrial leader who treats his workers poorly, exploits the environment, and/or uses cut-throat tactics to put competitors out of business.
Urbanization Migration from rural areas (the countryside) to urban areas (cities)
Gilded Age Something that is “gilded” is fancy on the outside, but cheap on the inside. In the 19th century, a sense of economic prosperity covered over serious problems of political corruption, poverty, labor conflict, urbanization, and a depressed farm economy.
Laissez-Faires Economy An economy in which the government does not intervene and prices and production levels are determined by the laws of supply and demand alone.
Political Machine An organization that trades favors for votes. Political machines helped , meet the needs of poor immigrant workers in the cities, but they were also a source of corruption.
Nativism Anti-immigrant feelings.
Trust A business that completely dominates an industry because it is the only, or one of the few, businesses that produces a given good or service.
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