Industrialization and The Progressive Era

Two types of business structures that emerged during the Gilded Age were...

• trusts and nonprofits

• monopolies and trusts

• monopolies and oligarchies

• trusts and distrusts

What were the Causes of the 2nd Industrial Revolution (aka The Gilded Age)

• The Homestead Act, the Granger Movement & farmer cooperatives

• demand for cotton, creation of textile mills, and reliance on slave labor

• availability of natural resources, expansion of the labor force, and laissez-faire policy

• the Dawes Act, Interstate Commerece Commission, and the introduction of government regulations

Old Immigrants are...

• People who came to the US from Asia or Southeastern Europe

• People who came to the US from Western or Northern Europe

laissez-faire means?

• hands off economics- the government is not regulating businesses

• hands on economics- the government is fully regulating businesses

• one hand on economics- the government is sort of regulating businesses

How did the experience of Asian immigrants differ from the experience of "new" European

immigrants?

• Asian immigrants were provided with skilled employment upon entering the United States.

• Asian immigrants and European immigrants had similar experiences when entering the

  United States.

• European immigrants had to complete literacy tests and pay poll taxes while Asian

  immigrants did not.

• European immigrants had an easier admission process than Asian immigrants when

  entering the country.

Why did the US Government order that Standard Oil be broken up?

• The Supreme Court ruled that Rockefeller was guilty of human rights violations for his treatment of oil workers under Standard Oil.

• Communist influence in politics lead to the dismantling of all private industry in the early 1900s

• There were concerns that Standard Oil would grow to be more powerful than the US government.

What issues did workers face during the Gilded Age

• rampant unemployment

• low wages and unsafe working conditions

• Too many skilled labor jobs and not enough people to fill those jobs

Labor Unions were created as a result of..

• Corrupt business monopolies and trusts exploiting the working class

• The Temperance movement and the prohibition of alcohol

• The Chinese Exclusion Act and Gentlemen's Agreement

• The Homestead Act of 1862

Horizontal integration, a strategy used by companies like Rockefeller's Standard Oil, was when..

• A company controlled all aspects of production of a product, from start to finish.

• A company controls a majority share of one level of production of a certain product.

The Sherman Anti-Trust Act was created to..

• Give the Government the power to break up political machines like Tammany Hall in NYC

• Give the government the power to break up small businesses who were trying to pool together to compete against large corporations.

• Give the Government the power to break up large monopolies and corporations that had unfair control over the market.