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Topic 1.1-1.4 Vocab
| Term | Definition |
|---|---|
| Entrepreneur | a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so |
| Laissez-faire | a policy or attitude of letting things take their own course, without interfering. |
| Protective tariffs | taxes, dues, or fees placed on foreign goods |
| Mass production | the production of large quantities of a standardized article by an automated mechanical process |
| Cash Crop | a crop produced for its commercial value rather than for use by the grower |
| Free Enterprise | an economy where the market determines prices, products, and services rather than the government |
| American Dream | that dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement |
| Capitalism | an economic system in which private individuals or businesses own capital goods |
| Corporation | specific legal form of organization of persons and material resources, chartered by the state, for the purpose of conducting business |
| Monopoly | large companies that controlled an industry or a sector, giving them the ability to control the prices of the goods and services they provided |
| John D. Rockefeller | American industrialist and philanthropist, founder of the Standard Oil Company, which dominated the oil industry and was the first great U.S. business trust |
| Horizontal integration | business strategy in which one company grows its operations at the same level in an industry |
| Trust | a new type of industrial organization, in which the voting rights of a controlling number of shares of competing firms were entrusted to a small group of men, or trustees, who thus were able to prevent competition among the companies they controlled |
| Andrew Carnegie | One of the captains of industry of 19th century America, helped build the formidable American steel industry, a process that turned a poor young man into the richest man in the world |
| Vertical integration | one or so owners buy/own more than one key/part of the companies |
| Social Darwinism | “survival of the fittest”—the idea that certain people become powerful in society because they are innately better |
| Interstate Commerce Commission (ICC) | formerly regulated the economics and services of specified carriers engaged in transportation between states from 1887 to 1995 |
| Sherman Antitrust Act | a federal statute which prohibits activities that restrict interstate commerce and competition in the marketplace |
| Sweatshop | A usually small manufacturing establishment employing workers under unfair and unsanitary conditions |
| Company towns | provided housing, food, luxuries, and a place to work for their employees; built by companies |
| Collective bargaining | negotiation of wages and other conditions of employment by an organized body of employees |
| Socialism | movement encompassing a wide range of economic and social systems which are characterized by social ownership of the means of production, as opposed to private ownership |
| Knights of Labor | organize workers of all kinds into a union to improve working hours and conditions for laborers |
| Terence V. Powderly | American labor union leader, politician and attorney, best known as head of the Knights of Labor in the late 1880s; goal was to lead Americans out of wage labor |
| Samuel Gompers | founder of the American Federation of Labor (AFL); assembled strikes, used them as effective weapons to change the degrading conditions of the working men of America |
| American Federation of Labor (AFL) | a national trade union organized in support of labor reform; members were skilled laborers representing a variety of trades and crafts |
| “New” immigration | Southern/Eastern Europeans arrived before Civil War/during 1870s to WW1; from Iceland, Germany, Italy, Poland, Hungary, Russia; unskilled, Catholic or Jewish |
| Steerage | Lowest deck of the ship; no privacy, unsanitary, many died from diseases |
| Ellis Island | America's largest and most active immigration station; located in New York and most Europeans were held there |
| Angel Island | An immigration station that detained Chinese immigrants to prevent from entering the U.S; located in San Francisco Bay and held most Asians (Chinese) |
| Americanization | Activities that were designed to prepare foreign-born residents of the United States for full participation in citizenship |
| “Melting Pot” | A society in which people of all different nationalities were blended together to create a single culture; American culture |
| Nativism | A set of beliefs favoring the interests of established inhabitants against those of immigrants |
| Chinese Exclusion Act | A law passed to ban/prevent Chinese immigrants from entering the U.S. |
| Push Factor | Things that force/push people out of places or land |
| Pull Factor | Things that attract/pull people into places or land |
| Assimilate | To fit in |
| Cartel | A formal organization of producers that agree to coordinate prices and production |
| Homestead Strike | 1892 steelworkers strike against Carneige Steel Company; 16 killed/injured |
| Pullman Strike | Pullman cut wages but refused to lower rent for company towns; railroad strike and boycott |
| Urbanization | To shift from rural areas into large cities; the increase in the proportion of people living in towns and cities |
| Rural-to-urban migrants | Those who choose to move from a lesser populated area to a more populated area for more job opportunities and better life |
| Skyscrapers | Very tall building |
| Subculture | a group of people within a cultural society that differentiates itself from the conservative and standard values to which it belongs, often maintaining some of its founding principles |
| Mass transit | Public transportation in urban areas |
| Suburbs | Residential districts located on the outskirts part of the city |
| Frederick Law Olmsted | An American landscape architect who designed a succession of outstanding public parks, beginning with Central Park in New York City |
| Tenements | Housing for the urban pools |
| Cholera | Infectious disease |
| Mark Twain | Samuel Langhorne Clemens, An American writer, humorist, entrepreneur, publisher, lecturer |
| The Glided Age | Era of rapid economic and population growth in the US during post-Civil War; American society as glided or having a rotten core in gold paint |
| Conspicuous Consumerism | To attain expensive material items in order to impress others of wealth and status |
| Mass Culture | Set of beliefs, values, ideas that come from the same sources |
| Joseph Pulitzer | An American publisher and editor that established the pattern of modern newspaper |
| William Randolph Hearst | An American newspaper publisher who built up the nation's largest newspaper chain and whose methods profoundly influenced American journalism |
| Horacio Alger | A 19th -20th century author who’s work inspired those to work hard and and achieve success |
| Tin Pan Alley | A collection of popular music publishers and song writers that dominated the US music industry in the 19th-20th century |
| Vaudeville | An entertain piece that consisted of dialogue, dance, etc., that dominated the entertainment industry |
| Industrial Revolution | the transition from creating goods by hand to using machines |
| Factory System | A new way of making products that began during the Industrial Revolution |
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