1. Chapter 13 Key Terms History Alive! Pursuing American Ideals
The Age of Innovation and Industry:
The rise of corporations, heavy industry, mechanized farming and technological innovations transformed the American economy from an agrarian to an increasingly urban industrial society.

2. Chapter 13: Engagement Chinese Fortune Cookie!
Homemade vs Industrialized

3. Capitalism/Capitalist
Definition:
An economic system in which factories, and other means of production are privately owned rather than government controlled.

4. Laissez-Faire
Definition:
The idea that the free market, through supply and demand, will regulate itself if government does not interfere.

5. Horizontal Integration
Definition:
A corporate expansion strategy.
Involves joining together as many firms from the same industry as possible.
John D. Rockefeller’s Standard Oil

6. Vertical Integration Definition: Corporate expansion strategy
Control of each step in the production and distribution of a product.
Acquiring raw materials to manufacturing, packaging, and shipping.

7. Time Warner Turner Network Television (TNT) Cartoon Network CNN
Castle Rock Entertainment
Turner Network Television (TNT)
Cartoon Network
Hanna - Barbera Cartoons
CNN
Warner Bros. Studios
Court TV
HBO
Movies
Movies
Television
CNN Radio
Time Warner
Radio
Cable Providers
Internet
Publishing
Road Runner
Time Warner Cable
Kablevision (53.75% - cable television in Hungary)
AOL Instant Messenger
Winamp
Fortune
Sunset Books
Time
Netscape
MapQuest
Sports Illustrated
Amazon.com (partial)
People Mag.

8. Mechanized Farming
From the beginning of America until the IR, the U.S. was an agrarian country using farm animals to do the work.

9. With the onset of the IR, even farming became heavily mechanized.

11. Heavy Industry
New innovations like the Bessemer process allowed the steel industry to explode!

12. America in the Gilded Age
To cover with or as if with a thin layer of gold.
To give an often deceptively attractive or improved appearance to

15. Captains of Industry
How did the captains of industry create and maintain control of United States industry?

16. What is a Captain of Industry?!
A business leader whose way of achieving personal fortune contributes positively to the country in some way.
Providing Jobs
This can be through:
Increasing Production
Philanthropy

17. What is a Philanthropist?!
Someone who makes large charitable donations ($$) to improve the well-being of others.
Schools/ Universities
This is often to:
Hospitals/ Medicine
Libraries

18. What is a Robber Baron?!
A business man who dominated their industry and made huge fortunes through unfair business practices.
This was done by:
Holding all of the power in their company
Sometimes used illegal business practices
Eliminating smaller/weaker businesses

19. Andrew Carnegie: Controlled the steel Industry
Brought the Bessemer Process from England
-Made it easy and cheap to make large amounts of steel by refining iron.
-Steel production increased 500 times

20. Was a Philanthropist who gave money to libraries.
Andrew Carnegie:
Used vertical integration to be successful.
Vertical Integration = Owning all aspects of production for a certain product As a result the owner makes all the profit (money)
Was a Philanthropist who gave money to libraries.

21. John D. Rockefeller Owned the Standard Oil Trust
Had a reputation as a Robber Baron

22. John D. Rockefeller
Tried to control all businesses in the oil industry
Gave away more than $500 million during his lifetime

23. Cornelius Vanderbilt
Built a huge railroad empire through ruthless business tactics,
Had a reputation as a robber baron

24. Cornelius Vanderbilt
Left $1 million to Vanderbilt University after his death.
He is the 2nd wealthiest person in U.S. History