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Laissez-faire capitalism
is an economic system in which transactions between private parties are absent of any form of government intervention such as regulation, privileges, imperialism, tariffs and subsidies. -
Vaqueros
is a horse-mounted livestock herder of a tradition that originated on the Iberian Peninsula and extensively developed in Mexico from a methodology brought to Latin America from Spain. The vaquero became the foundation for the North American cowboy. -
Cattle drives
is the process of moving a herd of cattle from one place to another, usually moved and herded by cowboys on horses.were the forced migration of massive numbers of cattle to the railroads where they could be shipped to the East -
Bessemer Process
was the first inexpensive industrial process for the mass production of steel from molten pig iron before the development of the open hearth furnace. The key principle is removal of impurities from the iron by oxidation with air being blown through the molten iron. The oxidation also raises the temperature of the iron mass and keeps it molten. -
Interstate Commerce Act 1866
is a United States federal law that was designed to regulate the railroad industry, particularly its monopolistic practices. The Act required that railroad rates be "reasonable and just," but did not empower the government to fix specific rates. -
Purchase of Alaska
was the United States' acquisition of Alaska from the Russian Empire. Alaska was formally transferred to the United States on October 18, 1867, through a treaty ratified by the United States Senate and signed by President Andrew Johnson. -
Standard Oil
was an American oil producing, transporting, refining, marketing company. Established in 1870, by John D. Rockefeller and Henry Flagler as a corporation in Ohio, it was the largest oil refiner in the world of its time. -
2nd Industrial Revolution
also known as the Technological Revolution, was a phase of rapid standardization and industrialization from the late 19th century into the early 20th century. The First Industrial Revolution, which ended in the middle of 19th century, was punctuated by a slowdown in important inventions before the Second Industrial Revolution in 1870. -
Social Darwinism
is any of various theories of society which emerged in the United Kingdom, North America, and Western Europe in the 1870s, claiming to apply biological concepts of natural selection and survival of the fittest to sociology and politics. -
Iron law of wages
proposed law of economics that asserts that real wages always tend, in the long run, toward the minimum wage necessary to sustain the life of the worker. The theory was first named by Ferdinand Lassalle in the mid-nineteenth century. Karl Marx and Friedrich Engels attribute the doctrine to Lassalle -
Telephone
Permits two or more users to conduct a conversation when they are too far apart to be heard directly. Alexander Graham Bell was the first to be granted a United States patent for a device that produced clearly intelligible replication of the human voice. -
RR strike 1877
sometimes referred to as the Great Upheaval, began on July 14 in Martinsburg, West Virginia, after the Baltimore and Ohio Railroad (B&O) cut wages for the third time in a year. This strike finally ended some 69 days later, after it was put down by unofficial militias, the National Guard, and federal troops. -
Chinese Exclusion Act
was a United States federal law signed by President Chester A. Arthur on May 6, 1882, prohibiting all immigration of Chinese laborers. -
Haymarket bombing
was the aftermath of a bombing that took place at a labor demonstration on May 4, 1886, at Haymarket Square in Chicago. It began as a peaceful rally in support of workers striking for an eight-hour work day, the day after police killed one and injured several workers. -
The Gospel of Wealth
is an article written by Andrew Carnegie in June of 1889 that describes the responsibility of philanthropy by the new upper class of self-made rich. -
Sherman Anti-trust Act 1890
is a United States antitrust law that regulates competition among enterprises, which was passed by Congress under the presidency of Benjamin Harrison. It is named for Sen. John Sherman, its principal author. -
Panic of 1893
was a serious economic depression in the United States that began in 1893 and ended in 1897. It deeply affected every sector of the economy, and produced political upheaval that led to the realigning election of 1896 and the presidency of William McKinley. -
Sears, Roebuck
is an American chain of department stores founded by Richard Warren Sears and Alvah Curtis Roebuck in 1893, and was reincorporated by Richard Sears and Julius Rosenwald in 1906. -
Pullman strike
was a nationwide railroad strike in the United States that lasted from May 11 to July 20, 1894, and a turning point for US labor law. It pitted the American Railway Union (ARU) against the Pullman Company, the main railroads, and the federal government of the United States under President Grover Cleveland. -
US Steel
more commonly known as U.S. Steel, is an American integrated steel producer headquartered in Pittsburgh, Pennsylvania, with production operations in the United States and Central Europe. J. P. Morgan formed U.S. Steel on March 2, 1901
