Chapter 4 Section 3 – Flashcards
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sweatshop
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small factory where employees have to work long hours under poor conditions
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company towns
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community where residents rely upon 1 company for jobs, housing, and shopping
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collective bargaining
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workers tried to make these gain more power against employees
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socialism
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economic and political philosophy that favors public instead of private
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Karl Marx's Communist Manifesto
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pamphlet that denounced capitalism and predicted that workers would overturn it
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socialism was created by
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professor William graham sumner
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knights of labor
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labor union founded by Uriah Smith Stephens
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Terence V. Powderly
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took on leadership of Knights in 1881, son of Irish Immigrants
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Samuel Gompers
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formed AFL, poor English Immigrant
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AFL
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craft union, had skilled workers from some 100 local unions devoted to specific crafts
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Railroad Strike of 1877
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results of disorganization and corruption
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haymarket riot
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labor-related protest in Chicago which ended in deadly violence
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homestead strike at carnegie steel
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strike against Carnegie's steelworks in Homestead, Pennsylvania
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american railway union and Eugene V. Debs
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debs led amu, organized it as industrial union
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pullman strike
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railway strike which began outside of chicago and spread nationwide
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industrial workers of the world wobblies
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led by Deb, radical union of unskilled workers with many socialists among its leaders, led # of strikes
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identify the major problems faced by workers on the mechanized assembly line
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long hours, more people than jobs, dangerous conditions
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how did the rise of labor unions shape relations among workers, big business, and government?
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more tension and struggled intensified
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how does socialism differ from free enterprise capitalism?
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socialism is owned by state or public and capitalism is owned by individuals
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what does the prevalence of child labor in the 1800s tell you about how society viewed children at the time?
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...
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why were employees generally opposed to labor unions?
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employees saw it as a threat to their business and profits
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why did the major strikes of the late 1800s lead to a backlash against labor unions?
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set important trend so employees appealed frequently for court orders against unions
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industrialization changed how businesses were ?
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run
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business leaders combined ? and ?
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funds and resources
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why do you form corporations
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forms protection for investors from losing more than their original investment->the most you lose is stock
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aided by railroads and the telegraph, corporations could what
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operate in different regions
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4 parts of the business cycle(economic cycle) in order
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recession, depression, recovery, and prosperity/peak
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result of the business cycle(economic cycle)
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entrepreneurs try to control market(get bigger) so they can survive an economic downturn
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corporations used strategies to what?
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eliminate competition and decrease costs
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monopolies and cartels->
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competitors forced out of business
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horizontal and vertical integration->
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better control of production, reduced costs
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captain of industry
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railroad industry created thousands of new jobs
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2 legislations
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ICC and sherman antitrust act
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robber baron
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robs workers of wages, rob resources out, swindle the poor
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captain of industry 2
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created jobs for many workers, mass production of goods improved quality and reduced prices
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strike
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workers stopped working until their demands were met
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knights of labor was both what
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male and female, black and white, unskilled and skilled
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the knights of labor was devoted to ?
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broad social reform
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knights of labor was ended by what riot
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haymarket riot
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the knights of labor was blamed for riot, therefore they ?
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disppeared
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American Federation of labor
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founded by samuel gompers
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problems with socialism
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gov. owns resources and makes decisions, individuals don't want to invent or improve, and leads to police state(communism) if people defy the gov.
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problems with capitalism
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few worker rights, little workplace and product safety, higher prices
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solution to problems of socialism and capitalism
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mixed economy which is free enterprise, personal and corporate income tax to help lower class, gov. regulation of business practices, the workplace, and products
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pullman strike
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george pullan cuts worker salaries at his factory
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gov. ordered ?
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strike organizers
