Gilded Age Review

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Laissez-Faire Economics

Back

Economic system in which the government does not intervene in business practices

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Vertical Integration

Back

A business practice in which a single manufacturer controls all of the steps used to change raw materials into finished products.

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Horizontal Integration

Back

A business practice in which a company takes over all of its competitors.

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Social Darwinism

Back

Theory that claims the best people in society are the ones who rise to the top

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Labor Union

Back

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

Front

Strike

Back

An organized work stoppage intended to force an employer to address union demands

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Lockout

Back

A company tool to fight union demands by refusing to allow employees to enter its facilities to work

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Blacklist

Back

A list privately exchanged among employers, containing the names of persons to be barred from employment.

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Push Factor

Back

A factor that causes people to leave their homelands and migrate to another region

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Pull Factor

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Factors that induce people to move to a new location.