Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
49 Cards in this Set
- Front
- Back
|
Transformation of the National Economy
|
Industrial growth was twice as fast as that in England, increased wealth and lives of many Americans but was not universal
|
|
|
Sources of Industrial Growth
|
Growing labor supply, abundant raw materials, ambitious entrepreneurs, expanding domestic market, government aid in business growth
|
|
|
New Steel Production Techniques
|
Englishman Bessemer and American Kelly developed process to blow air through iron to produce a better steel called Bessemer Process, 1868 Mushet introduced open-hearth process, allowed larger amounts of steel to be made for rails and buildings, 1870s cylindrical furnaces used,, better transportation of ore
|
|
|
Which city was the center of the steel world?
|
Pittsburgh, major source of ore
|
|
|
Rise of the Petroleum Industry
|
Steel industry needed lubrication for machines, Bissell and Drake started first oil well in PA, rapidly grew in demand
|
|
|
Henry Ford produced his first car in what year?
|
First car in 1906 based off Duryea engine, quickly popular
|
|
|
Wright Brothers
|
Fairly successful plane by 1904 which held an internal combustion engine, plane technology did not take off until Lindbergh’s flight in 1920
|
|
|
Corporate Research and Development
|
Research had to be rapid to remain up to date, General Electric had one of the first corporate labs in 1900, allowed inquiry to search in many directions, real scientists felt engineers were too commercialized
|
|
|
Transformation of Higher Education
|
Universities received funding from corporations to do research, this connection lacked in Europe and some argue it helped industry immensely
|
|
|
What was "Taylorism"?
|
Ideas of Frederick Winslow Taylor; subdividing tasks, reduce dependence on highly trained employees
|
|
|
Who Created the Moving Assembly Line?
|
Henry Ford in 1814, drastically cut assembly time allowing for hire wages and hour reduction, reduced product price
|
|
|
Rapid Expansion of the Railroad
|
Gave access to distant markets and raw materials; growth aided by government subsidies, private investments, rail tycoons like Vanderbilt
|
|
|
The Corporation
|
People could buy stock in a company, appealing due to limited liability
|
|
|
Andrew Carnegie
|
Steel tycoon in Pittsburgh, Scottish immigrant, bought out rivals, controlled steel processing from mine to market, 1901 sold to JP Morgan who formed US Steel and had 2/3 of nation’s steel production
|
|
|
Isaac Singer
|
1851, patented sewing machine
|
|
|
New Managerial Techniques
|
More modern, more systematic, division of responsibility, “middle manager” formed
|
|
|
Horizontal and Vertical Integration
|
Horizontal: combing many firms in one enterprise into a single corporation; Vertical: taking over all aspects of business ex, Carnegie Steel
|
|
|
Rockefeller’s Standard Oil
|
Horizontal and vertical integration used, 1870 Standard Oil in Ohio, 1880s held 90% of oil market
|
|
|
The Trust Agreement
|
“a great economic combination”, stockholders gave their stocks to a small group of trustees for stocks in the trust itself, some states allowed actual corporate merging like NJ
|
|
|
Rapid Corporate Consolidation
|
End of 1800s 1% of corporations held 33% of the market à enormous power to a few men (JP Morgan, Rockefeller…) lead to great industrial growth
|
|
|
Myth of the Self-Made Man
|
Most millionaires started off with wealth and privilege and many rose to power via corruption or bribery of politicians, and for every success story there were many more failures, small companies beat out by monopolies
|
|
|
Social Darwinism
|
Only the fittest survived and flourished in the marketplace, the lazy and stupid were poor, supported by Herbert Spencer and William Sumner (Flockways, 1906) Laissez-Faire
|
|
|
Justifying the Status Quo
|
Social Darwinism justified law of competition and business tactics; all hypocrites since they bought out competition thus hurting free markets
|
|
|
Gospel of Wealth
|
By Andrew Carnegie, 1901, wealthy had responsibility to by philanthropic
|
|
|
Russell Conwell
|
Baptist minister, shared “true” stories of how easy it was to find wealth
|
|
|
Horatio Alger
|
Andy Grant’s Pluck, Ragged Dick, Sink or Swim stories of myth that hard work would lead to wealth, emphasized moral quality of his heroes, revealed good and bad of industrialization, hid the fact that he was homosexual out of fear
|
|
|
Lester Frank Ward
|
Dynamic Sociology (1883) thought government interference was good for economy
|
|
|
Henry George
|
CA, Progress and Poverty (1879) proposed a “single tax” which would destroy monopolies and distribute wealth more equally, almost elected mayor of NY
|
|
|
Looking Backward
|
By Bellamy, 1888, awoke in year 2000 in a Utopian society in which all business formed one great trust run by the government
|
|
|
How did people react to monopolies?
|
Capitalism was generally viewed as Ok, but more difficulty with monopolies, thought they created artificially high prices and an unstable economy (several recessions between 1870 and 1890), dislike of those living in grotesque luxury. Increasing Gap Between Rich and Poor
|
|
|
New Sources of Immigration
|
Expanded work force, shift from England/Ireland/Germany to southern and eastern Europe (Greek, Poles, Slavs), out west many came from Mexico and Asia until the Chinese Exclusion Act of 1882, lured to America by new opportunities
|
|
|
Heightened Ethnic Tensions
|
These new immigrants replaced Irish/British labor, even cheaper
|
|
|
Wages and Working Conditions
|
Little job security, workers often close to poverty, hard to adjust from agrarian life to industry, system of work was impersonal and demeaning, long days in unhealthy factories
|
|
|
Did some workers experience a "loss of control" in terms of their work?
|
Yes, you controled when and how you worked your own farm but in a factory you were told what to do
|
|
|
Poorly Paid Women
|
Single women worked to support families or to help husband’s inadequate wage, cheaper than adult male labor, did not need to be skilled, 75% were under 25 years, earned about half of what men did
|
|
|
Ineffective Child Labor Laws
|
Child labor on the rise, 38 states passes child labor laws but they were not enforced, kids worked in fields or factories
|
|
|
National Labor Union
|
Sylvis founded in 1866 to combined several smaller skilled labor unions, fell apart after Panic of 1873, excluded women workers
|
|
|
Molly Maguires
|
Militant labor organization in coal region of PA, used violence and murder, lead to general middle class distrust of unions
|
|
|
The Great Railroad Strike
|
1877 as a reaction to 10% wage cut, Hayes ordered federal troops to interfere, first major national labor conflict
|
|
|
The Knights of Labor
|
Uriah S Stevens in 1869, membership open to almost any laborer even women and blacks, bankers excluded, loosely organized, looked for long range reform of the economy, failure of a strike in 1885 led to their decline in 1890s
|
|
|
American Federation of Labor (AFL)
|
1881, Samuel Gompers, included US and Canada, mainly skilled workers, did not like women workers who they felt were weak and drove down wages for everyone else, felt workers deserved a greater share of capitalism’s rewards, did not want government aid, used collective bargaining but threatened strikes
|
|
|
Haymarket Square
|
Chicago, strike in 1886 for 8 hour work day, police tried to break it up, someone threw a bomb killing 7 officers and injuring many, police fired into crowd killing 4 strikers, 8 anarchists found and tried for throwing bomb, anarchism scared Americans
|
|
|
The Homestead Strike
|
Streamlining of system cut out skilled steel workers, PA, national guard eventually sent in to end it
|
|
|
Henry Clay Frick's role in the Homestead Strike?
|
Helped cut wages of those in Amalgamated Iron and Steel Worker Union, closed plant in 1892, Pinkerton strikebreakers called in but the strikers poured oil on the river and lit it on fire, Pinkertons surrendered
|
|
|
Pullman Strike
|
1894, Pullman Palace Car Company, cut wages by 25%, workers went on strike in 27 states, federal troops called in eventually
|
|
|
Eugene Debs
|
Led militant American Railway Union, helped in Pullman Strike,
|
|
|
Sources of Labor Weakness
|
Little wage gain while cost of living increased, only 4% of workers ever belonged to unions in 1900, tensions between ethnic groups kept laborers divided, many laboreres shifted from job to job and town to town
|
|
|
Corporate Strength
|
Too wealthy and powerful to make gains against, had the support of the government
|
|
|
Labor Contract Law
|
repealed in 1885, allowed employees to pay for an immigrant's passage to America and then deduct from worker’s wages
|
