american history- chapter 14

head of the steel company; one of the first industrial moguls to make his own fortune; rags to riches

buying out of all the suppliers (same product)

buying out of all the competition (merging of companies)

philosophy of survival of the fittest

complete control over it's industry's production, quality, wages paid, and prices charged

corporation that does nothing but buy out the stock of other companies

head of standard oil company; took a different approach to mergers and joined with competition through a trust agreement

participants turn stock over to a group of trustees; in return, companies received certificates that entitled them to dividends on profits earned

people who ran the separate companies as one large corporation

stated that any attempt to interfere with free trade among the states or internationally by forming a trust was illegal; enforcement of this was nearly impossible- not clearly defined

12 hour workdays 6 days a week no vacation, sick leave, unemployment compensation low wages

led by Uriah Stephens; open to all workers regardless of your race, gender, or degree of skill because it focused on individual workers; didn't use strikes as tactics

led by Samuel Gompers; open to all skilled workers from many different industries; used collective bargaining and strikes as tactics

"Wobblies" led by William "Big Bill" Haywood; consisted of miners lumberers, and cannery/dock workers (welcomed women and African Americans)

led by Eugene V. Debs; started with unskilled and semiskilled workers but skilled firemen and engineers joined

group negotiations

economic and political system that features government control of business and property and equal distribution of wealth