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US Ch. 13

Expansion of American Industry

TermDefinition
patent licenses that give an inventor the exclusive right to make, use, or sell an invention
productivity amount of goods and services created in a given period of time
transcontinental railroad railway extending from coast to coast
Bessemer Process process to remove impurities from steel
mass production production in great amounts of steel
Why did changes in daily lives after Civil War? electricity improved, developed new uses in petroleum helping to power machines
How did advances in electrical power/communication affect life for people and business? homelife had refrigeration, lights; helped employment; telephone allowed more communication
Effects of railroad on industry faster and cheaper; creation of markets' stimulation for other industries
social Darwinism society does as little as possible to interfere with people's pursuit of success
oligopoly market structure dominated by only a few large protifable firms
monopoly complete control of product or service
cartel loose association of businesses that make the same product
vertical consolidation gaining control of many different business that make up all phases of a products development
economies of scale as production increases, the cost of each item is lowered
horitzontal consolidation bringing together many firms in the same business to form one large one
trust a group of separate companies that are placed under the control of a single managing board
Sherman Antitrust Act law passed by Congress (1890) that outlawed a combination of companies that restrained interstate trade or commerce
piecework workers are paid not by amount of time but by number of items they produced
sweatshop factory where employees work long hours at low wages under poor working conditions
division of labor way of producing in which different tasks are performed by different people
factors that led to growing work force 1860-1900 immigrants looking for better jobs; population shift from rural areas to cities because of poor farming
socialism economic and political philosophy that favors public instead of private control of the means of production
craft union organized skilled workers in a network of smaller unions
collective bargaining workers negotiate as a group with employers
industrial union organized workers from all crafts in a given industry
scab negative term for a workercalled in by an employer to replace striking workers
anarchist radicals who oppose all government
Haymarket Riot 1886 labor-related violence in Chicago
Homestead Strike 1892 strike in Pennsylvania against Carnegie steel
Pullman Strike 1894 railway workers' strike that spread nationwide
Impact of industralization on the gulf between rich and poor Gulf became wider; workers began to resent extravagant lifestyles of factory owners
Goals of early labor unions help for members in hard times; means for workers demands for shorter work day, higher wages
Created by: mbarkley