Industrialization Vocabulary

Front

When the government is “hands off” the economy and doesn't make laws/rules to limit business

Back

laissez-faire

Front

Making products quickly and cheaply; the assembly line was an important part of this

Back

mass production

Front

The time period of growth as the United States became an industrial power, changing from a farming society to a manufacturing society

Back

Industrialization

Front

Method of mass production in which large amounts of steel could be made cheaper and quicker

Back

Bessemer Steel Process

Front

Term that is a negative opinion to describe the big businessmen of industrialization

Back

Robber Baron

Front

Positive nickname used to refer to big businessmen often because they were philanthropists.

Back

Captain of Industry

Front

The rapid growth of cities

Back

urbanization

Front

When one business controls an entire industry

Back

monopoly

Front

When large amounts of money are given to charity and for the public good.

Back

philanthropy

Front

The Standard Oil company grew into a monopoly under the leadership of this big businessman

Back

John D. Rockefeller