6.3 Big Business and Labor: US History – Flashcards
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Andrew Carnegie
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Son of a poor family that became one of the first industrial moguls to make his own fortune; Carnegie Steel
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Carnegie's Strategies
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1. continually searched for ways to make better products more cheapy 2. hired talented people by offering stock and benefits; encouraged competition *tryed to control the whole steel industry
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vertical integration
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process in which the suppliers are bought out in order to control the raw materials and transportation system
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horizontal integration
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buying out or merging all companies that produce similar products
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social darwinism
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theory that some individuals of a species flourish and pass their traits along to the next generation, while others so not. also explains how the process of "natual selection" weeded out less-suited individuals and enabled the best-adapted to survive
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Charles Darwin
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Philospher who came up with the theory of social darwinism and wrote the book On the Origin of Species
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On the Origin of Species
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Charles Darwin's book that explained the theory of social darwinism
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Herbert Spencer
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english philosopher who used Darwin's biological theories to explain the evolution of human society
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laissez faire
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"allow to do" doctrine that states that the marketplace should not be regulated by the federal government
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William G. Sumner
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Yale professor that promoted the theory of laissez faire and that success and failure in business were governed by natural law and that no one had the right to intervene
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monopoly
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when a firm buys out all its competitors to achieve complete control over its industry's production, wages, and prices
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J.P. Morgan
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head banker of United States Steel that was one of the most successful holding companies
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United States Steel
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one of the most successful holding companies
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Carnegie Steel
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Steel company created by Andrew Carnegie. Produced the largest portion of the nation's steel
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John D. Rockefeller
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Established Standard Ol of Ohio. He joined competing companies in trust greements
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Trustees
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people that ran the separate companies as one large corporation
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Standard Oil of Ohio
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oil company established by John D. Rockefeller which used trust to gain total control of the oil industry in america
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Robber Barons
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people who used the tactic of paying employees low wages and driving out competitors by selling product at a lower price than it cost to produce. Then, when the market was controlled, hiking up prices; Rockefeller
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philanthropists
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giving away money for a good cause
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Rockefeller Foundation
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establishment that provided funds to found the University of Chicago, and created a medical institute that helped cure yellow fever
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Sherman Antitrust Act
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made it illegal to form a trust that interfered with free trade between states or with other countries
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captial
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money for investments
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sweatshops
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A factory or workshop, esp. in the clothing industry, where manual workers are employed at very low wages for long hours and under poor conditions
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Jacob Riis
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Personal voice of the sweatshops
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National Labor Union
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first large scale labor union
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William H. Sylvis
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formed the National Labor Union
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Colored National Labor Union
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group of african american laborers that were not allowed to join the National Labor Union
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Uriah Stephens
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founded the Noble Order of the Knights of Labor
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Noble Order of the Knights of Labor
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"an injury to one is the concern of all." supported equal pay and equal work for all. saw strikes, or refusals to work, as a last resort
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strikes
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refusals to work
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Samuel Gompers
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President of the American Federation of Labor. Also led the Cigar Makers' International Union to join with other craft unions
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American Federation of Labor (AFL)
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focused on collective bargaining, or negotiation between representatives of labor and management, to reach written agreements on wages, hours, and working conditions. Used strikes as a major tactic
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Eugene V. Debs
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felt unions should include all laborers; American Railway Union (ARU)
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American Railway Union
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Union formed of unskilled AND skilled workers
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Socialism
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economic and political system based on government control of business and property and equal distribution of wealth
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Karl Marx
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communist German philosopher
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Industrial Workers of the Work/Wobblies
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Radical unionists and socialists group that formed to try to achieve better conditions for workers
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William "Big Bill" Haywood
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Head of the Wobblies
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Great Strike of 1877
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workers of the Baltimore and Ohio Railroad struck to protest their second wage cut in two months. Thw work stoppage spread to other lines. After state governors asked President Rutherford B. Hayes to intervene, saying that the strikers were impeding interstate commerce, federal troops ended the strike
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Haymarket Affair
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People gathered at Chicago's Haymarket Square to protest police brutality. Bomb was thrown at police line and police fired at workers (caused public to turn against the labor movement)
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Carnegie Steel Homestead Plant
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steel plant created by Carnegie that produced most of the United States Steel
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Henry Clay Frick
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President of Carnegie Steel Company's Homestead plant
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Pinkerton Detective Agency
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Hired by Frick to protect the steel plant
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Pullman Strike
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company laid off many employees and cut wages of the rest. strike was called in the spring of 1894
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Panick of 1893
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closing and bankcrupcy of many businesses caused by the economy
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arbitration
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negotiation with strikers
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boycott
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to refuse to use of by a product from a certain business
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strikebreakers
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people hired to replace strikers
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blacklist
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list of people that other employeers could see so that they could never agian get railroad jobs
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Mary Harris Jones
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prominent organizer in the women's labor movement. organized the United Mine Workers of America
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United Mine Workers of American
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formed by Jones for rights of miners
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Pauline Newman
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first female organizer of the International Ladies' Garment Worker's Union, also supported "Uprising of the 20,000" because she was a former garment worker and the strike won labor agreements for strikers
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Internationa Ladies Garment Workers' Union
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formed by Pauline Newman. labor union for garment workers'
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"uprising of 20,000"
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strike that won labor agreements and improved working conditions for some strikers
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Triangle Shirtwaist Factory Fire
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fire at a garment factory. The fire spread through oil-soaked machines engulfing the 8th-9th-10th floors. When workers tried to flee, all doors were locked but one. The door that was unlocked was blocked by fire. 146 women died
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"yellow-dog contracts"
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in attempt to keep workers from rebelling, employeers had to start sign contracts saying that they wouldn't strike, picket line, or boycott
