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