Vocab Flashcard Industrialization and Gilded Age

Front

Businesses and "Means of Production" are privately owned.

Back

Capitalism

Front

Government should keep "Hands Off" the economy

Back

Laissez Faire

Front

People who take financial risks to start a new business

Back

Entrepreneurs

Front

Patented the telephone in 1875

Back

Alexander Graham Bell

Front

Inventor of phonograph & electric light bulb

Back

Thomas Alva Edison

Front

Wealth for few industrialists via unethical tactics (Robber Barons)

Back

Gilded Age

Front

Complete control over production of a good or service

Back

Monopoly

Front

Govt. attempted to dismantle Trusts

Back

Sherman Antitrust Act

Front

Removed impurities from pig iron when making steel

Back

Bessemer Process

Front

Belief that successful people are superior and poverty is the fault of the poor.

Back

Social Darwinism