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Unit 5: Chapter 14
woot, leggo.
29
History
12th Grade
12/09/2012

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Term
Bessemer process
Definition
method to purify iron to make steel; "caused" the Second Industrial Revolution
Term
Edwin L. Drake
Definition
drilled the first commercial oil well in Pennsylvania in 1859
Term
wildcatter
Definition
oil prospectors
Term
transcontinental railroad
Definition
the railroad the united the country; crossed the entire United States
Term
entrepeneur
Definition
risk takers using their own money and talents to launch businesses/ventures
Term
capitalism
Definition
private businesses run most industries
Term
laissez-faire
Definition
"to let do"; no government intervention on the conduction of business
Term
social Darwinism
Definition
the philosophy that those who are stronger business men will succeed while those who are not as strong will fail
Term
John D. Rockefeller
Definition
major leader of the Oil Industry (Standard Oil); used vertical and horizontal integration; philanthropist (donated almost half his money to the community/colleges)
Term
monopoly
Definition
when a trust, or group of companies, control an entire industry with no competition
Term
vertical integration
Definition
acquiring companies that supply your business so you control the whole process
Term
horizontal integration
Definition
taking over other companies that produce the same product
Term
Andrew Carnegie
Definition
major leader of the Steel Industry; used horizontal integration only; philanthropist; Gospel of Wealth
Term
Cornelius Vanderbilt
Definition
major leader of the Railroad Industry; just bought RR companies
Term
Sherman Antitrust Act
Definition
made it illegal to form trusts that would interfere with free trade; monopolies illegal;
Term
sweatshop
Definition
small workplaces filled with people
Term
Knights of Labor
Definition
a Union formed in Philadelphia in 1869 by Terence V. Powderly
Term
Terence V. Powderly
Definition
the leader of the Knights of Labor
Term
xenophobia
Definition
fear of foreigners
Term
blacklist
Definition
list that employers kept of who not to hire
Term
Samuel Gompers
Definition
leader of the American Federation of Labor
Term
American Federation of Labor
Definition
Union that formed in 1886 by Samuel Gompers
Term
Eugene V. Debs
Definition
supported the Pullman Strikes; leader of the American Railroad Union
Term
Grover Cleveland
Definition
the president who called in federal troops to end the Pullman Strike in 1893
Term
mass transit
Definition
transportation of a lot of people
Term
Orville and Wilbur Wright
Definition
the brothers who had the first flight of a plane
Term
telegraph
Definition
what sent messages over wires with electricity
Term
Alexander Graham Bell
Definition
patented the telephone
Term
Thomas Alva Edison
Definition
major inventor in the late 1800s, inventing things such as the light bulb and the record player
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