Chapter 6 Review

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Collective bargaining
negotiation of wages and other conditions of employment by an organized body of employees
Monopoly
the exclusive possession or control of the supply or trade in a commodity or service
Trust
managing companies as a single unit
Cartel
Loose associations that manufacture with the purpose of maintaining prices high
Socialism
a political and economic theory of social organization that advocates that the means pf production, distribution, and exchange should be owned or regulated by the community as a whole
anarchists
Radicals who oppose all government
Scabs
workers who break labor strikes or who are hired to replace striking workers
Division of labor
the assignment of different parts of a manufacturing process or task to different people in order to improve efficiency
Patent
licenses that gives an inventor the exclusive right to make, use, or sell inventions
Business cycle
a cycle or series of cycles of economic expansion and contraction
Social Darwinism
the theory that individuals, groups, and peoples are subject to the same Darwinian laws of natural selection as plants and animals
Thomas Edison’s accomplishments
invented the electric light bulb, provided affordable lighting central power
George Westinghouse
rail road improvements, passengers and shipping business goods
Robber barons
an unscrupulous plutocrat, especially an American capitalist who acquired a fortune in the late nineteenth century by ruthless means
Sherman antitrust act
federations and state statutes to protect trade, commerce from unlawful restrains
John D. Rockefeller- Standard Oil
began as an Ohio partnership John and his brother William
Andrew Carnegie- Steel Industry
an American industrial leader of the late nineteenth and early 20th centuries, immigrated to the US from Scotland without money and made millions on the steel industry
Vertical consolidation
gaining control of many different businesses, make up all phased
Horizontal consolidation
gaining control of only one business
AFL
American federation of labor, was a national federation of labor unions on the US
Knights of Labor
a member of a 19th century secret labor organization formed in 1869 to secure and maintain the rights of working men in respect to their relations to their employers
Child Labor
the use of children in industry or business, especially when illegal or considered in human
Samuel Gompers
American labor union leader and a key figure in American labor history, founder of the American Federation of labor
Terrence Powderly
a leader of the Knights labor and a former machinist
Migration to American cities
poor immigrants moved to northern cited
Homestead Strike
an industrial lockout and strike which began on June 30, 1892, culminating in a battle between striker and private security agents on July 6, 1892
Haymarket Riot
a famous London market, a square in Chicago: scene of a riot (Haymarket Riot) in 1886 between police and labor unionist
Pullman Strike
national railroad strike in the US on May 11, 1894 and a Turing point for US labor law
RR strike of 1877
the great railroad strike of 1877, cut wages for the third time in a year
“Captain of industry”
a business leader whose means of amassing a personal fortune contributed positively to the country in some way
“Yellow dog” contracts
a contract between a worker and an employer in which the worker agrees not to remain in or join a union
Alexander Graham Bell
invented the telephone and made it easier to communicate far in distance
Compare and contrast the American Federation of Labor and the Knights of Labor (Essay)
The Knights of Labor
-Terrence Powderly 1869
-allowed Blacks and women as members, factory workers and farmers
-sought to politically educate members
-Wanted to form a single Union
-didn’t believe in strikes to increase productivity
-pursued broad social reforms(equal pay for equal work, the eight hour workday, and end child labor)

American Federation of labor
-1886 Samuel Gompers
-only wanted skilled workers, in a network of smaller unions, each devoted to a specific craft (craft Union)
-members could only be white and male
-used strikes to get demand met
-tried to force employers to participate in collective bargaining(workers negotiation of wages and other conditions of employment by an organized body of employees)

Categories: History