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Social Studies Industrial Review PowerPoint. By: Megan Ferris. Vocabulary Words:. Monopoly. A business that owns all or nearly all of the businesses in one industry . Bessemer Process. Is the process that makes steel cheap and easy to make Caused steel mills to show up all over .

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Presentation Transcript
monopoly
Monopoly
  • A business that owns all or nearly all of the businesses in one industry
bessemer process
Bessemer Process
  • Is the process that makes steel cheap and

easy to make

  • Caused steel mills to show up all over
vertical integration
Vertical Integration
  • Owning all of the steps required to make materials into finished productions
  • Carnegie used this in his Steel Industry
consolidate
Consolidate
  • Companies combined as railroads grew
  • They did so they operated more efficiently
corporations
Corporations
  • A business that is owned by investors
  • They sell stocks
stocks
Stocks
  • Shares in businesses
  • Stockholders receive dividends
dividends
Dividends
  • Shares in the companies profit
trusts
Trusts
  • Group of Corporations run by one board of directors
sherman anti trust act
Sherman Anti-Trust Act
  • Banned the formation of trusts and monopolies
  • Was too weak to make any affect
the triangle fire
The Triangle Fire
  • About 150 killed
  • Many jumped out of the window so they wouldn’t burn alive
  • Doors were locked so they couldn’t get out
  • The two men responsible were not charged
  • Opened eyes of many people about the factory life, causing states to pass laws to protect the workers
rebates
Rebates
  • Discounts, or sales on a certain thing
  • Often didn’t announce them
pools
Pools
  • Owners of a business divide up the business then set a high price
anarchist
Anarchist
  • An anti-government
  • Often labor leaders
free enterprise system
Free Enterprise System
  • A business that is owned by private citizens
strike breakers
Strike Breakers
  • Were hired to replace striking workers
  • McCormick hired them to replace his striking workers
collective bargaining
Collective Bargaining
  • The right of union workers to work out deals with management
  • Later were banned
network
Network
  • A system of connected railroads
  • American’s trains formed networks
injunction
Injunction
  • Is something that a court ordered to do or not to do something
sweatshop
Sweatshop
  • A workplace where people work long hours for low pay and bad conditions
knights of labor
Knights of Labor
  • The union were open to only skilled workers
  • 1879 elected Terrene Powderly as their president
mass production
Mass Production
  • Large amounts of products made in a short amount of time
  • The assembly line allowed this (for example for the cars)
trust
Trust
  • A group of corporations run by a single board of directors
  • The Standard Oil Company formed a trust in 1882
haymarket riot
Haymarket Riot
  • German anarchists protest for better labor conditions
  • Police officers came in and tried to shut it down when a bomb was thrown at the police officer, killing him and wounding others
  • 8 people were accused of throwing the bomb even though they never found out who actually threw it
  • All 8 were sentenced to death
andrew carnegie
Andrew Carnegie
  • Preached the “Gospel of Wealth” or that the rich had the duty to help the poor and to improve society, now we call people like that philanthropists.
  • Built up steel companies
  • Type of Business Style-Vertical Integration (owned all of the steps in the steel industry)
  • Used the Bessemer Process to make steel cheap and affordable
j p morgan
J.P. Morgan
  • A powerful banker in the 1800’s
  • Used his banking profits to gain control of corporations
john d rockefeller
John D. Rockefeller
  • Created the Standard Oil Company
  • Formed trusts for a way of making money
  • In the Standard Oil Company the trust controlled 95% of all the oil companies
henry ford
Henry Ford
  • Invented the affordable automobile
  • Invented the assembly line which made things cheaper and faster to make (mass production)
eastman kodak
Eastman Kodak
  • Made the first affordable camera
wright brothers
Wright Brothers
  • Invented the airplane
  • Tested their first flying machine on December 17th, 1903
thomas edison
Thomas Edison
  • Made the light bulb more affordable
  • Was the “Wizard of Menlo Park”
  • Also Invented:

-phonograph

-movie camera

cornelius vanderbilt
Cornelius Vanderbilt
  • Son of a poor farmer
  • Most powerful “railroad barons”
  • Consolidated Railroad companies into a Network