Industrialization and Gilded Age A3 Honors US History Vocab

Nativism

Definition: A policy of favoring inhabitants as opposed to immigrants Example: the policy of protecting the interests of native-born or established inhabitants against those of immigrants.

Laissez-faire

Definition: A policy or attitude of letting things take their own course, without interfering. In economics, abstention by governments from interfering in the workings of the free market. Example: A go-with-the-flow type of policy. Usually used to say the government isn't involved in the free market

Tenement

Definition: A tenement is a multi-occupancy building of any sort. However, in the United States, it has come to refer most specifically to a run-down apartment building or to a slum. Example: A tenement is an inferior multi-family in highly populated urban areas, and it was usually populated by lower class citizens/people.

Social Darwinism

Definition: A theory that socio-cultural advance is the product of conflict and competition and the socially elite classes (as those possessing wealth and power) possess biological superiority in the struggle for existence. Example: In Industrilization they misused Darwinism of his idea that and theroy about human society. These theories evolved around the ideas of evolution, fitness, and survival. Saying that the strongest will survive and weakest won't, so it's fine to just continue to because it won't change otherwise.

Free market

Definition: An economic system in which prices are determined by unrestricted competition between privately owned businesses Example: Prices are not determined by the government; instead, owners of a private business choose what the prices of their products will be.

Union

Definition: An organization of workers formed to protect the rights and interests of its members. Example: a club, society, or association formed by people with a common interest or purpose. EX workers union

Monopoly

Definition: Complete control, usually by one or very few companies, of the entire supply of goods or of a service in a certain area or market. Example: the exclusive possession or control of the supply of or trade in a commodity or service an example would be Microsoft and Windows,

Vertical Integration

Definition: The combination in one company of two or more stages of production normally operated by separate companies. Example: where a certain company owns its suppliers, distributors, and retail locations as opposed to working with third-party businesses. this helps the company to control the

Urbanization

Definition: The process by which towns and cities are formed and become larger as more and more people begin living and working in central areas. Example: when cities become larger, more people start living there and when more people start living there, more people start working there, and when that happens, the city becomes larger

Communism

Definition: This is an economic system in which the government has total control of the means of production. Often the result of a violent revolution, its intention is to do away with rigid class systems leading to economic equality. Example: An economic system, often the result of violent revolutions, in an effort to get rid of rigid class systems. The government has total control of the means of production, its intention is to lead to economic quality.

Capitalism

Definition: This is an economic system in which the means of production are owned and operated by individuals, and prices are determined by free market competition. Example: Capitalism in the industrial revolution consisted of private or corperation ownership of capital goods and wanting to have investments that are determined by private decision rather than by state control.

Socialism

Definition: This system is commonly used by capitalist countries in which certain aspects of the economy and society are funded by the government such as health care, public schools, the construction of roads, and the operation of state and national parks. Example: a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.

Industrialization

Definition: To build and operate factories and businesses in a city, region, country, etc. Example: Industrialization is the process of industries growing rapidly in a country or region on a wide scale.

Immigration

Definition: To come to a country to live there. Example: People moving over from their country to live in another one. Typically because of crop failure, land and job shortages, rising taxes, and famine, many came to the U. S. because it was perceived as the land of economic opportunity.