History 8. and 8.3

What is a monopoly?

A monopoly is where a large business owns lots of smaller businesses to make more money.

In which industry was each of the following men a leader? Carnegie, Rockefeller, Morgan, Vanderbilt.

Carnegie led the steel industry, Rockefeller led the oil refining industry, Vanderbilt payed for railroads across America, and Morgan invested in banking.

What are some of the tactics that employers would use to defeat unions?

Employers would make workers sign a contract, fire them if they joined a union, or said that unions were dangerous.

What is horizontal integration?

Horizontal integration is buying all the companies of the same process.

Are there any business leaders today that could be considered "robber barons?" Who and why?

I would probably consider Jeff Bezos because he has a lot of money and still gives some to the people and helps increase people with jobs. But he probably still does shady things and exploits people.

How did industrialization help expand the middle class?

It gave more jobs to people so more people could work and make money.

What are the differences between market entrepreneurs and political entrepreneurs?

Market entrepreneurs were those who sought success by _good business practices time management, cost-cutting, improved operations, new technology. Political entrepreneurs sought money by exploiting the poor and treating people wrongly to gain more money.

What was the view of women in the workforce at this time? What professions did women move into?

Men and Women agreed that if a woman did not need extra money and had a family she should stay home. Women who were single began moving into some industrial jobs.

what were two methods labor would use to fight management?

One way was by not working at all so no one could do the job, and the other is where they would riot and try to burn the factory or other business down.

Why was the growth of the American economy in the last half of the nineteenth century considered a paradox?

People were angry that the rich had more money but the workers had more money as well.

What is the idea of social Darwinism? who believed in this?

Social Darwinism is that businesses compete to make sure only the fittest of them survive. Carnegie believed this.

How did the businessmen of the Gilded Age and their tactics revolutionize American industry? Whom do you think had the greatest impact and why?

Some were good and helped people with their inventions and money while others did not care. I believe that the steel industry has had the biggest impact because of how often it is used.

What are strikes? and why would workers engage in them?

Strikes are where workers will not work and protest low wages. They engaged in them to make the factories pay them more.

What happened in the Great Railroad Strike of 1877?

There was a riot where about 500,00 people participated and 100 people died during it.

What are robber barons?

They were rich people who owned monopolies are controlled most of the wealth in America.

What is vertical integration?

Vertical integration is getting multiple different types of businesses to gain money from them all.

Who are wage earners?

accounted for 2/3rds of all working Americans at this time.