Corporations | Key Terms | Miscvgv |
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Who is Andrew Carnegie
Founder of the biggest steel corporation
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What is Stock
Certian Right of Ownership
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What is the Textile Industry
Where did Industrilization in the US begin?
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Who is John D. Rockefeller
Founder of the biggest oil company
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What is a Corporation
A business owned by stockholders who share in it's profits but aren't personally responsible for it's debt.
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Who is Adam Smith
This Man defended the idea of a free economy and wrote The Wealth of Nations
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Who are stock holders
Earned high profits off of corporations
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What is Capitalism
An econmoic system in which the factors of production are privatly owned and money is invested in business ventures to make a profit
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What is the Abolition of Slavery and Women's Rights
These were the two main reforms during this time period
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What is industrial equipment
Corporations were able to raise the large amount of capital needed to invest in this
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What is Laissez Faire
The policy that allows owners of an industry and business set working conditions without interference
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What is the Northeast
This part of the US experienced the most industrialgrowth in the early 1800s
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What is the cost of producing goods
Giant Corporations controlled entire industries and in order to make big profits they reduced this
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Who is Who is Karl Marx
Believed that the Industrial Revolution had enriched the wealthy and impoverished the poor. Introduced the world to a new a new radical type of Socialism
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What is the Ameican Federation of Labor (AFL)
In 1886, several Unions joined together to form the organization that would become this
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