Unit 2 Vocab
By: Heaven Marie Navarro
JP Morgan
was an incredibly powerful banker during his era who helped finance railroads, organize US steel, General Electric, and many other successful companies
John D Rockefeller
co-founded the Stanford Oil Company that dominated business in the US and became the richest fella ever
William Taft
served as a jurist, statesman, 27th president of the United States, and 10th Chief of Justice of the United States
Theodore Roosevelt
aka "Teddy"; was an American statesman, author, explorer, soldier, naturalist,and was the 26th president of the United States
Thomas Edison
Andrew Carnegie
was an industrialist who led the expansion of the American Steel Industry
Cornelius Vanderbilt
was a magnate and philanthropist who built his fortune with railroads and shipping.
Samuel Gompers
was a cigar maker who gomped the position of the Georgia Labor Union Leader
Ellis Island
is an island in upper New York that used to be used for Immigrant Examinations
Political Machine
A political machine is an organization in which a small group commands the support of a corps of supporters and businesses who receive rewards for their efforts; the machine's power is based on the ability of the workers to get out of the vote
Nativism
was a mindset that the indigenous cultures must be preserved and that immigrants were a bad thing
Horizontal Integration
is when a company creates production units for outputs which are competitive
Vertical Integration
is when a company owns each business that is needed in making their product
Gilded Age
The period in the US characterized by an expanding economy; the name "gilded" references the fact that everything seemed nice on the surface but was something different underneath
Ethnic Enclaves
is a neighborhood with a high ethnic concentration and cultural identity
Social Darwinism
Inspired by Darwinism; was used to justify ruthless business acts as "survival of the fittest"
American Industrial Revolution
was a revolution of industry that brought about social and economical changes
16th Amendment
allows the Congress to levy an income tax without apportioning it; among the states or basing it on the United States Census
Robber Baron
a ruthless industrialist that were known for mistreating workers and exploiting natural resources
Social Gospel Movement
was a religious movement that stressed incorporating Jesus into everyday life
Gospel of Wealth
was written by Andrew Carnegie and describes the new responsibility of the self-made upper classman