APUSH Unit 7: The Gilded Age

New way of making steel that increased its quality & made it more efficient to produce

• Siemans-Martin Process
• Crucible Process
• Bessemer Process
• Cementation Process

When companies that produce a similar product are merged together

• horizontal integration
• Taylorism/Scientific Management
• Time-Study Analysis
• vertical integration

When a company controls all the raw materials, processing, and transportation systems of a product

• time-study analysis
• vertical integration
• horizontal integration
• Taylorism/Scientific Management

Complete control over an industry's production, wages, & prices

• vertical integration
• monopoly
• Bessemer Process
• capitalism

Entity that runs several companies as one large corporation; Standard Oil

• monopoly
• Bessemer Process
• time-study analysis
• trust

Labor union for skilled labors. Craft union joined this.

• American Legion

• Knights of Labor

• American Federation of Labor

• Knights of Columbus

1st labor union in the U.S.; focused on arbitration

• Knights of Labor
• Knights of Columbus
• American Federation of Labor
• American Legion

Theory that success in business was governed by natural law; "Only the strongest will survive"

• Gospel of Wealth
• Social Darwinism
• Socialism
• Origin of the Species

Argued that those with great material possessions had an equally great obligation to society

• Conspicuous Consumption
• Gospel of Wealth
• Social Darwinism
• Socialism

American capitalist of the Gilded Age whose contributions benefited society

• Captain of Industry
• Robber Baron
• Gospel of Wealth
• Socialist