The Rise of Big Business Lecture Notes and Packet – Flashcards
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The Bessemer process led to the mass production of high quality ________
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Steel
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In the late 1800s, _______ were formed to improve conditions for workers
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Labor unions
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This term best describes wealthy business owners who often engaged in unfair or anti-competitive business practices?
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Robber barons
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Wrote "The Gospel of Wealth"
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Andrew Carnegie
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What did John D. Rockefeller create in order to monopolize the oil industry?
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Trust
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This American company had a monopoly in the late 1800s
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Standard Oil Company
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Andrew Carnegie was an entrepreneur, an industrialist, and a _________
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Philanthropist
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John D. Rockefeller originally made his fortune in which industry?
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Oil
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Ran a shipping business: led several different railroad companies; donated money to a university which would later be named after him
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Cornelius Vanderbilt
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Which group believed that society was a competition in which the fittest came out on top, justifying the inequality faced by immigrants and minorities during the Gilded Age?
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Social Darwinists
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Samuel Gompers was an important leader in the organized labor movement and is known for founding
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The American Federation of Labor
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The Great Strike of 1877 was the ______ nationwide strike in the U. S.
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First
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Founded the American Railway Union in 1893; played an important role in the Pullnan strike in 1894; was a founding member of the Social Democratic Party of America; Ran for president of the U. S. 5 times
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Eugene V. Debs
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There were large numbers of unskilled workers in the late 19th-early 20th century who were willing to work for ______ wages
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Low
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The Pullman Strike of 1894 at the Pullman Palace Car company ended after the federal government issued a ______
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Injunction
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Founded in Philadelphia in 1869; was one of the first national unions; goals includes having an 8 hour workday, improved wages, and an end to child labor
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The Knights of Labor
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This event weakened the influence of the Knights of Labor
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The Haymarket Square Riot
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In this Supreme Court case, labor unions were legalized
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Commonwealth vs Hunt
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Came up with the concept of communism and socialism
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Karl Marx
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Wrote "Progress and Poverty"
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Henry George
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Wrote "Looking Backward"
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Edward Bellamy
