Gilded Age / Progressive Era Vocabulary (6th Period)

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Laissez Faire

Back

Government economic policy of regulating business as little as possible, "lazy government"

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Strike

Back

A refusal to work, until labor union demands are met.

Front

Haymarket Riot

Back

Chicago strike that turned violent after the detonation of a bomb, and subsequent police shootings of protestors. Damaged the labor movement by making unions seem violent.

Front

Homestead Strike

Back

Strike at one of Andrew Carnegie's steel mills. Ended after the deaths of strikebreakers and strikers, when the Pennsylvania militia was called in. Most striking workers were later fired and replaced by machines and unskilled immigrants.

Front

Pullman Strike

Back

This strike of railroad car workers spread throughout the country, and shut down rail traffic. Was ended after the US Army was sent in to clear the rails. Millions of dollars of damage and dozens of deaths resulted - along with the creation of Labor Day.

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Monopoly

Back

A business that controls all or nearly all of a particular industry, eliminates competition and raises prices

Front

Triangle Shirtwaist Factory Fire

Back

Fire in factory, 145 women died, government passed stricter building codes, enforced inspections.

Front

Labor Unions

Back

Organizations of workers who band together to negotiate with management for better and safer working conditions.

Front

Capitalism

Back

An economic system based on private property and free enterprise. What is produced is determined by the private citizens who own the factors of production guided by the laws of supply and demand.

Front

Robber Baron

Back

Refers to the industrialists or big business owners who gained huge profits by paying their employees extremely low wages. They also drove their competitors out of business by selling their products cheaper than it cost to produce them. Then when they controlled the market, they hiked prices high above the original price.