1302 Test 1 Ron Wright
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- During the take off period what two things happened?
- population more than doubled, and farming doubles and becomes more efficient
- Most powerful countries in 1900
- US, Germany, England, France
- What is the backbone of the industrial state?
- Steel
- Steel was primarily used in what 3 goods?
- Railroads, artillery, and battleships
- The US produced how much steel in comparison to the other 3 top countries?
- more that 2-4 combined
- Why did the US become the richest country? 7 things
- Resources, technology, large population, american attitudes, economic system, railroads, leadership
- How did resources help the US become the richest country?
- Made us self-sufficient
- How did technology help the US become the richest country?
- Age of invention
- How did large population help the US become the richest country?
- Workers through immigration mostly
- How did american attitudes help the US to become the richest country?
- "work ethic" - frugal & responsible, Horatio Alger Jr. - rags to riches kids stories
- How did economic system help the US to become the richest country?
- capitalism, laissez faire, high tariff
- what is capitalism?
- private property ownership
- what does laissez faire mean?
- hands off!
- What was the "key" to expansion
- railroads
- What was the first big business in the US?
- railroads
- How did railroads help the US to become the richest country?
- consolidation stimulated growth
- How did leadership help the US to become the richest country?
- Era of the businessman
- Who was Hetty Green?
- The "Witch of Wallstreet"
- What were Rockefeller's first two businesses?
- grocery and then oil refining
- Rockefeller used what to make production more efficient?
- Vertical integration
- Standard Oil Company nicknamed the
- "Collosus of Cleveland"
- What is Horizontal integration?
- buying other companies and moving towards a monopoly
- What is an economy of scale?
- Wal-mart
- Who is Herbert Spencer?
- Social Darwinism - defends laissez faire
- philanthropy
- giving money to notable causes
- Ida Tarbell wrote
- The History of Standard Oil - Captains of industry or robber barons?
- what is plutocracy
- rule by wealth
- How did laborers bargain for change in the workplace?
- Unions- diversity is not a strength!
- 1884 Elections - Republicans/Dems picked who?
- R-Blaine (thief) D-cleveland (clean-illegitimate kid)
- spoils system remedied through...
- civil service system
- Who was Guiteau?
- killed Garfield, helped push civil service system
- Interstate Commerce Commission did what?
- regulated the railroad
- Sherman antitrust act
- reinstated competition between businesses
- Why were farmers protesting?
- Prices for goods lower, costs of equipment rising, and deflation
- who do farmers blame for the problems?
- east-urbans
- Farmers created the what party?
- populism
- What are the 6 pieces of the omaha platform?
- Gv't owns RR, Subsidies to farmers, Income Tax, Nativism, Pro-labor laws, panacea
- What did the proposition of nativism mean?
- no more immigration
- What was panacea?
- massive inflation, unlimited silver coinage