Industrialization Vocab

American History II

Innovations

  • a new idea, device or process

Monopolies

  • a market in which there are many buyers but only one seller

Laissez-Faire

  • an economic environment in which transactions between private parties are free from intrusive government restrictions, tariffs, and subsidies

Unionization

  • a state of being organized into a labor union

Spoil System

  • a practice in which a political party, after winning an election, gives government jobs to its supporters, friends and relatives as a reward for working toward victory

Merit System

  • the process of promoting and hiring government employees based on their ability to perform a job, rather than on their political connections

Vertical Intergration

  • the combination in one company of two or more stages of production normally operated by separate companies

Horizontal Integration

  • the process of a company increasing production of goods or services at the same part of the supply chain

Capitalism

  • an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.

Bessemer Process

  • a steel-making process

Sweatshops

  • a factory or workshop

Trust

  • a large business with significant market power

Gospel of wealth

  • an essay written by Andrew Carnegie in 1889 that described a responsibility of philanthropy by the upper class and self-made rich

Robber Barons

  • a noble who robbed travelers passing through their land

Craft Union

  • a labor union composed only of people in the same craft

Trade Union

  • a labor union of craftspeople or workers in related crafts, as distinguished from general workers or a union including all workers in an industry

Scab

  • a worker who refuses to join a labor union or to participate in a union strike, who takes a striking worker's place on the job, or the like

Lockout

  • the temporary closing of a business or the refusal by an employer to allow employees to come to work until they accept the employer's terms

Blacklist

  • a list drawn up by a labor union, containing the names of employers to be boycotted for unfair labor practices

Yellow Dog Contract

  • a contract between a worker and an employer in which, as a condition of employment, the worker agrees not to remain in or join a union

National Labor Union

  • the first attempt to organize all workers in all states-both skilled and unskilled workers

Knight Of Labor

  • a member of a 19th century secret labor organization formed in 1869 to secure and maintain the rights of workingmen in respect to their relations to their employers

Haymarket Bombing

  • a labor protest rally near Chicago's Haymarket Square turned into a riot after someone threw a bomb at police

Homestead Strike

  • was an industrial lockout and strike between strikers and private security agents

Pullman Strike

  • a nationwide railroad strike in the United States