A way to manufacture steel quickly and cheaply by blasting hot air through melted iron to quickly remove impurities

This inventor helped create several important inventions such as the electric light bulb.

Exclusive rights to make or sell inventions

This inventor patented the telephone in 1876

This entrepreneur aimed to make "a motor car for the great multitude" and introduced the Model T in 1908

An innovation of Henry Ford's that dramatically reduced the cost of production

These brothers invented the first power-driven airplane in 1903

Businesses that sell portions of ownership called stock shares

This business man was born and Scotland and came to the US as a poor immigrant, but he later made a fortune in the steel industry. His business succeed largely through vertical integration.

This business man was successful at consolidating or combining businesses. His oil refining business, Standard Oil became the nation's largest oil refiner and eventually controlled 90% of the oil refining business in the US

Ownership of businesses involved in each step of a manufacturing process

Owning all businesses in a certain field (such as Rockefeller's Standard Oil Company)

A legal arrangement grouping together a number of companies under a single board of directors.

A view of society based on scientist Charles Darwin's theory of natural selection. The idea that the "survival of the fittest" theory decided which human beings would succeed in business and in life in general.

Total ownership of a product or service

A law that made it illegal to create monopolies or trusts that restrained trade passed in 1890.

An efficiency engineer published a popular book in 1909 called "The Principles of Scientific Management"

All workers acting collectively or together in order to negotiate with management on behalf of workers.

The first national labor union was founded in Philadelphia in 1869. Over time it accepted unskilled workers, women and African Americans. By 1886 it had more than 700,000 members

An early labor union that limited its membership to skilled workers and was led by Samuel Gompers.

In May 1886 this event occurred in Chicago where an unidentified person threw a dynamite bomb at police. The police panicked and fired into the crowd. 7 police officers and four workers were killed. it resulted in the decline of the Knights of Labor

In 1892 a strike occurred in the Carnegie Steel Company in Homestead, Pennsylvania. The resulting fight left several workers and Pinkerton guards dead.