All Flashcards
What happened during the Second Industrial Revolution?
Massive industrial growth fueled by new technologies like steel, oil, and electricity (roughly 1871-1914).
What happened in 1869?
Completion of the Transcontinental Railroad, linking the East and West coasts of the United States.
What was the Pacific Railway Act (1862)?
Provided land grants and loans to the Union Pacific and Central Pacific railroads to build the Transcontinental Railroad.
What was the Credit Mobilier scandal?
A construction company overcharged for building the Union Pacific and bribed government officials, leading to political corruption.
What was the significance of Thomas Edison's lightbulb invention in 1879?
The invention of the practical incandescent light bulb in 1879 revolutionized lighting and paved the way for the widespread use of electricity.
What was the significance of building the first electric power station in 1882?
Edison built the first electric power station in 1882 establishing centralized power generation and distribution.
What was the effect of industrialization?
The US transitioned from an agrarian economy to an industrialized one, the rise of big business, growing inequality, the rise of the labor movement, and social reform.
What was the effect of the Transcontinental Railroad?
It dramatically reduced travel time and facilitated trade and commerce across the United States.
What was the effect of mass production?
Factories churned out goods like never before.
What was the effect of mechanization?
Machines took over many tasks, especially in food and clothing production.
Who was Andrew Carnegie?
King of Steel, known for efficiency and vertical integration. Founded US Steel Corporation.
Who was John D. Rockefeller?
Oil Tycoon, known for eliminating competition through horizontal integration and the Standard Oil Trust.
Who was Thomas Edison?
Inventor of the practical incandescent light bulb and builder of the first electric power station.
Who primarily built the Central Pacific Railroad?
Chinese immigrants, often called "coolies," faced harsh conditions.
Who primarily built the Union Pacific Railroad?
Irish immigrants.
What is the definition of the Gilded Age?
A period of rapid industrialization and economic growth in the United States (1870s-1890s) marked by inequality and corruption.
What is an agrarian economy?
An economy based primarily on agriculture and farming.
What is vertical integration?
Controlling all stages of production from raw materials to finished goods.
What is horizontal integration?
Buying out competitors to control a specific market.
What is a trust?
A legal agreement allowing one company to control multiple businesses in the same industry.
What is the Second Industrial Revolution?
A period of massive industrial growth (roughly 1871-1914) fueled by new technologies and industries like steel, oil, and electricity.
Define mass production.
The manufacturing of large quantities of standardized products, often using assembly line technology.
What is mechanization?
The process of replacing human labor with machines.
What is consumer culture?
A culture where mass-produced goods are widely available, creating a focus on consumption.
What is a subsidy?
Financial assistance given by the government to support an industry or project.