1. Intro to Gilded & Progressive ERA
Laissez-Faire to Trust Busting
Labor Unions to Square Deal

2. GILDED AGE
Term taken from Mark Twain book to describe American society.
Industrialists lived lavish lifestyles while the period was marked by political and social corruption

3. BIG BUSINESS & GOVERNMENT
Laissez-faire meant that the government would not interfere.
Horizontal integration the joining together of multiple firms from same industry
Vertical integration taking control of each step in the production and distribution of a product
Social Darwinism claimed that the best run business led by the most capable people would prosper

4. U.S. FREE ENTERPRISE SYSTEM
A Economic System that provides individuals the opportunity to make their own economic decisions free of Government restraints.
Operates according to five main principles: the freedom to choose our businesses, the right to private property, the profit motive, competition, and consumer sovereignty.

5. A company that completely dominates a particular Industry
Monopoly
A company that completely dominates a particular Industry

6. CORPORATIONS
A separate legal entity that has been incorporated. It is recognized by law as existing independently from its owners. People who buy stocks become owners of the company.

7. TRUSTS
Is a set of companies that are managed by a small group known as trustees. They have the power to prevent companies in the trust from competing with each other.

8. ANDREW CARNEGIE
 led the enormous expansion of the American steel industry in the late 19th century. He was also one of the highest profile philanthropists of his era and had given away almost 90 percent of his fortune to charities and foundations by the time of his death. His 1889 article proclaiming "The Gospel of Wealth" called on the rich to use their wealth to improve society, and stimulated a wave of philanthropy.

9. Gospel of Wealth By Andrew Carnegie
Contrast to Social Darwinism
Some people with money liked this idea
People with great wealth have the responsibility to use their riches to advance social progress (moral issues)
Carnegie- a self made man, immigrant, later philanthropist, believed in this,
“All revenue generated beyond your own needs should be used for the good of the community.”
Acres of Diamonds

10. JOHN D. ROCKEFELLER
An American business magnate and philanthropist. He was a co-founder of the Standard Oil Company, which dominated the oil industry and was the first great U.S. business trust. Rockefeller revolutionized the petroleum industry, and along with other key contemporary industrialists such as Andrew Carnegie, defined the structure of modern philanthropy. 

11. CORNELIUS VANDERBILT
 He was known by the nickname Commodore, was an American business magnate and philanthropist who built his wealth in railroads and shipping. He was also the patriarch of the Vanderbilt family and one of the richest Americans in history. He provided the initial gift to found Vanderbilt University, which is named in his honor.

12. FREDRICK TAYLOR
An American mechanical engineer who sought to improve industrial efficiency. He was one of the first management consultants. Taylor was one of the intellectual leaders of the Efficiency Movement and his ideas, broadly conceived, were highly influential in the Progressive Era. Taylor summed up his efficiency techniques in his book The Principles of Scientific Management.

13. HENRY FORD
An American industrialist, the founder of the Ford Motor Company, and sponsor of the development of the assembly line technique of mass production. Although Ford did not invent the automobile or the assembly line he developed and manufactured the first automobile that many middle class Americans could afford.

14. The Labor Movement
Labor unions were organizations of workers with 3 major goals: higher wages, shorter hours, and better working conditions
Strikes were a union’s most powerful threat

15. Knights of Labor
 It was the First and one of the most important American labor organizations of the 1880s. Its most important leader was Terence V. Powderly. The Knights promoted the social and cultural uplift of the workingman, rejected socialism and anarchism

16. American Federation of Labor
Samuel Gompers of the Cigar Makers' International Union was elected president of the Federation at its founding convention and was reelected every year except one until his death in 1924.

17. LABOR CONFLICTS
HAYMARKET SQUARE 1886 when a bomb exploded n the middle of a strike demonstration killing several protestors
HOMESTEAD STRIKE 1892 steel workers had a day long gun battle vs Pinkerton’s men the state militia put end to the strike
PULLMAN STRIKE 1894
RAILROAD STRIKE OF 1877

18. Business Reacts to Unions
Industrialists used these techniques to stop Unions
Yellow Dog Contracts = Employees sign a contract vowing not to join a Union
Blacklists = name put on a list and passed around to prevent people from being hired
Lockouts = not letting workers inside to work

19. Create a Labor Union

20. The Progressive ERA
A political movement in the early 1900’s which saw social reforms such as child labor laws, a minimum wage, Women’s Rights, and political reforms

21. Teddy Roosevelt “Trustbusting
He wanted to regulate monopolies so they operated for the
good of the Nation
Sometime he had to break up Trusts although he was not opposed to big
buisness. This gave him the nickname Trustbuster
- He also limited the powers of the Railroads to set rates and stifle competition

22. Sherman Anti-Trust Act
Passed in 1890, in an effort to control monopolies, this act outlawed efforts to consolidate businesses under trusts that monopolized and restrained free trade.

23. Square Deal
 President Theodore Roosevelt's domestic program formed upon three basic ideas: conservation of natural resources, control of corporations, and consumer protection. These three demands are often referred to as the "three C's" of Roosevelt's Square Deal. Thus, it aimed at helping middle class citizens and involved attacking bad trusts while at the same time protecting business from the most extreme demands of organized labor