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Iron law of wages
The iron law of wages is an economic principal that shows that wages tend to run towards the minimum wage necessary to sustain a worker. The man who formulated this concept, David Ricardo, also created the American Federation of Labor. -
Bessemer Process
The Bessemer Process was a revolutionary way to produce steel as it was a way to produce strong, refined steel in a fast and efficient way. The price of steel dropped, making it more accessible to build with. The process was used by Andrew Carnegie to build Carnegie Steel. -
Alaskan Purchase
America purchased the Alaskan territory from Russia for 7.2 million dollars which worked out to 2 cents per acre. -
Standard Oil
The standard oil corporation was established by J.D Rockefeller. The company bought out and consolidated many other oil refinement companies and held a near monopoly in the industry. This made Rockefeller a very rich man and gave him the title of a “robber baron” in some circles. -
Laissez Faire Capitalism
Laissez Faire Capitalism was the concept of an economic system in which the government would not interfere whatsoever. The government would not apply regulations, tariffs, or subsidies to any part of the economy. This was opposed by those who were concerned with the overreach of capitalists. -
Social Darwinism
The concept of Social Darwinism was the theory that individuals, groups, and populations were subject to the same theory of “survival of the fittest”. It was used to justify the mistreatment of the poor and the worshipping of the rich. -
Social Gospel
The Social Gospel movement was a reform movement that was mostly based in the Protestant circles. They applied Christian ethics to reform society. -
Tammany Hall
Tammany Hall was a New York political organization based around Jeffersonian Democratic Republican ideals. “Boss Tweed” was a prominent member of Tammany hall. -
WCTU
WCTU or the Women’s Christian Temperance Union kinked reform movements to religion. The WCTU was one of the first to encourage the prohibition of alcohol. -
Telephone
The telephone was invented by Alexander Graham Bell and it connected the world like never before. Communication in the nation increased and it led to further development. -
RR Strike of 1877
The railroad workers strike of 1877 was a result of the Baltimore and Ohio railroad company cutting wages for the third time in the year. The strike did not lead to much change in the industry or the economy. -
Chinese Exclusion Act
The Chinese Exclusion Act kept Chinese laborers from immigrating to the America and also kept them from gaining citizenship. -
Timezones
The concept of timezones was introduced by American and Canadian railroad companies. They split up the nation into four continental time zones as a way to maintain efficient railroad timetables and operations. -
Wabash v Illinois
The Wabash v Illinois case limited the rights of states to control interstate commerce. The case led to the creation of the Interstate Commerce Commisson. -
Gospel of Wealth
The Gospel of Wealth was an article written by Andrew Carnegie that proclaimed that wealthy people had a responsibility to help poor people lift out of their poverty and improve society. -
Hull House
The Hull House was a settlement house established for recent immigrants by Jane Adams in Chicago. The house would work towards assimilating immigrants by teaching them English and teaching them American culture. -
NAWSA
NAWSA or the National American Women’s Suffrage Association worked for the improvement of women’s rights and the furthering of the women’s suffrage movement. Many notable women like Susan B Anthony and Elizabeth Candy Stanton were a part of the association. -
Ellis island
Ellis island served as an entryway for immigrants during the time. Immigrants went through a large amount of checking to gain entry into the United States. -
Panic of 1893
The Panic of 1893 was a major economic depression that lasted for four years as a result of the crash of the Philadelphia and Reading railroad and the National Cordage Company. It affected every sector of the economy and led to the presidency of William McKinley. -
Plessy v Ferguson
Plessy v Ferguson was the court ruling that upheld the constitutionality of the racist system of “separate but equal”. The issues were brought about when Plessy, a black man, refused to sit in a train car for black people.
