Industrialization - The Rise of Industry

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An American capitalist who acquired a fortune in the late nineteenth century by ruthless means, such as, monopolies (i.e. John D. Rockefeller's Standard Oil Co.)

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Robber baron

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A law that was designed to regulate the railroad industry; created the Interstate Commerce Commission (ICC) to railroads and ensure that they complied with the new regulations.

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Interstate Commerce Act (1887)

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First federal law against monopolies, it was signed into law by President Harrison and was extensively used by President Theodore Roosevelt for "trust-busting". However, it was initially misused against labor unions.

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Sherman Anti-trust Act (1890)

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The attitude of protecting the interests of native-born or established inhabitants against those of immigrants; xenophobia; "America is for Americans"

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nativism

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Southern and Eastern European immigrant who arrived in the United States in a great wave between 1880 and 1920 through Ellis Island (Italians, Greeks, Slavs)

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new immigrant

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An organization of workers that tries to improve working conditions, wages, and benefits for its members

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labor union

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President Theodore Roosevelt sought to use the government to dissolve corporate trusts and monopolies by distinguishing between "good" and "bad" trusts, so he was referred to as this title just because it was so new.

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trustbuster

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The application of ideas about Darwin's theory of evolution and "survival of the fittest" to human societies - particularly as a justification for monopolies and the growth of business

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Social Darwinism

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Laws limiting immigration that gave preference to Northern and Western Europeans; gave low quotas to other Southern and Eastern European countries

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Quota Acts

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An economic system in which the means of production and distribution are privately owned and operated for profit with minimal or no government interference

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Laissez-faire capitalism