The Age of Industry

Americas Industrial Revolution 1870-1900

The four necessities for an industrial society are:
1. _____________________________. 2. _____________________________.
3._____________________________

4._____________________________.

The Free Enterprise System- An economic system characterized by ______________

___________________ of the means of ________________, and a lack of government
________________ of the economy.
Also known as Laissez Faire Economics, a _____________ ______________, or
_________________.
A countrys economic strength is measured by its GDP or _______________
______________ __________________, which is the total ____________ of all
_____________ & ________________ produced in a country in _______ year.
Corporation - a business owned by the _____________ through the sale of
_______________.
Stock - certificates of partial _________________ in a corporation.
Dividends payments to stockholders based on the number of ___________ they own.
Capital - money used to ______________ ___________________. Stocks produce large
amounts of ______________.
Investing in corporations is made less risky by _________________
_____________________, which protects stockholders from being responsible for a
corporations debt.
Monopoly The complete control of an entire ________________ by a
________________.

Tycoons Wealthy business owners of the ___________ of _______________. Not so

affectionately referred to as, _______________ ________________.
JD Rockefeller created a monopoly called _________________ _________.
Social Darwinism as in nature, business is ruled by ________________ of the
________________.
Horizontal Integration controlling one essential step in the ________________ of a
_______________.
Andrew Carnegie created a monopoly called ______________ ____________________.
Vertical Integration controlling all the steps in the ________________ of a
________________ - from ___________ _______________ to finished products.
Carnegie created a company town called ___________________, located in
Pennsylvania.
These years are also known as the ________ of ____________________
Thomas Edison invented the ___________ _____________ and Alexander Graham Bell
the ________________________.
Mark Twain called this time, The _____________ __________, which means
_____________

____________.

Conspicuous Consumption - the buying of _______________ items to show off ones

______________.
The Age of Conspicuous Consumption was fueled by the _________________
____________________.
How the _____________ ______________ ______________ written by
__________ _________, exposed the poverty of the ___________ _______________.
Back then there was no ________________, _______________ ______________ laws, no
______________ ______________ laws, or _______________ _______________ laws.
Andrew Carnegies Gospel of Wealth a man who dies ___________, dies
_____________.
Philanthropy the act of giving to _________________.