Chapter 3 Vocab and Essentials
Lesson 1: gross national product, laissez-faire,
Pg 92,93. What role did natural resources and immigration play in the industrialization of the United States? What were the key resources involved? What pushed immigrants out of China and Europe?
Pg. 94. Discuss some of the various inventions during industrialization. Which of these do you believe was most important and why?
Pg. 95. How does laissez-faire economics seek to grow capital?
Lesson 2: Pacific Railway Act, “Big Four”, Credit Mobilier scandal, Great Northern Railroad
Pg 96, 97. Examine the details surrounding the Transcontinental Railroad. What were the companies? What labor did they use? Which route do you believe was a bigger challenge?
Pg. 97, 98. How did railroads spur economic growth in the United States?
Pg. 98, 99. How did government grants to build railroads result in large-scale corruption?
Lesson 3: economies of scale, monopoly, holding company, trust, fixed cost, operating cost,
Pg. 101 Compare and contrast the various types of business organizations. Who owns them? How is money raised? Advantages? Disadvantages? What are modern day examples of each? (graph)
Pg 101, 102. Analyze the rise of both Carnegie and Rockefeller. Discuss the elements of Vertical and Horizontal integration? (graph)
Pg 103. What is investment banking? How did JP Morgan use this style of banking to gain capital?
Lesson 4: deflation, industrial union, lockout, arbitration, injunction, closed shop, Samuel Gompers, Mary Harris Jones, AFL, IWW, ILGWU, Mary Kenney O’Sullivan, Leanora O’ Reilly, Jane Adams, WTUL, Lillian Wald.
Pg. 104. What conditions might lead to unionization?
Pg. 105. How did employers seek to limit the power of unions? Why did they often succeed?
Pg 105, 106. What economic and political ideas were often associated with unions? How did this lead to an anti-immigrant movement?
Pg. 107. Discuss the events surrounding the Great Railroad Strike? What actions did President Hayes take?
Pg. 107. How did the Knights of Labor differ from other unions? What strategies did they use?
Pg. 107 Discuss the events surrounding the Haymarket Riot.
Pg. 107, 108. Discuss the events surrounding the Homestead and Pullman Strikes. How did these events empower business?
Pg. 108,109 What were the goals of the IWW and the AFL? Why do you believe the AFL was more popular that the IWW?
Pg. 109. What factors drove women to their own organized labor movement? What were some of the various groups and goals?