Industrialization & Urbanization

the process of developing machine production of goods

• Industrialization

• Laissez-Faire

• Entrepreneur

• Andrew Carnegie

Policy that government should interfere as little as possible in the nation's economy

• Laissez-Faire

• Industrialization

• Entrepreneur

• John D. Rockefeller

A person who starts up and takes on the risk of a business

• Entrepreneur

• Industrialization

• Laissez-Faire

• J.P. Morgan

A Scottish-born American industrialist and philanthropist who founded the Carnegie Steel Company in 1892. By 1901, his company dominated the American steel industry.

• Andrew Carnegie

• J. P. Morgan

• Industrialization

• Laissez Faire

Dominated the oil industry, forming the Standard Oil Trust in which he bought out smaller oil firms, eliminating all other competition.

• John D. Rockefeller

• Industrialization

• Laissez Faire

• Entrepreneur

An influential banker and businessman who bought and reorganized companies. His United States Steel company would buy Carnegie steel and become the largest business in the world in 1901.

• J. P. Morgan

• John D. Rockefeller

• Industrialization

• Laissez Faire

United States manufacturer of automobiles who pioneered mass production through the use of the assembly line.

• Henry Ford

• Industrialization

• Entrepreneur

• Laissez Faire

Refers to the industrialists or big business owners who gained huge profits by paying their employees extremely low wages and eliminating competition.

• Robber Barons

• Industrialization

• Entrepreneur

• Laissez Faire

a person who seeks to promote the welfare of others, especially by the generous donation of money to good causes

• Philanthropist

• Industrialization

• Robber Barons

• Laissez Faire

People who came from Northern and Western Europe before 1890 to settle in North America

• Old Immigration

• Industrialization

• Laissez Faire

• Entrepreneur