A person who takes on the risks of creating, organizing, and managing a business enterprise.
A place where people buy and sell stocks (shares in the ownership of companies). Stockholders may participate in election of the companies directors and share in the company's profits.
Law passed by Congress in 1862 that offered ownership of 160 acres of designated public lands to any citizen who lived on and improved the land for 5 years
A tax placed on imported goods for the purpose of raising the price of imports as high as or higher than the prices of the same items made in the US
Land owned by the federal govt
Land-Grant College Act
Law passed by Congress in 1862 that gave states land to use to raise money to establish public universities that were to offer courses in engineering and agriculture and to train military officers
Pacific Railway Act
Law passed by Congress in 1862 that gave loans and land to the Central Pacific and Union Pacific Railroad companies to subsidize construction of a rail line between Omaha and the Pacific Coast
A certificate of debt issued by a govt or corporation guaranteeing payment of the original investment plus interest at a specified future date
Industrialist who made a fortune in steel and believed the rich had a duty to act for the public benefit
The process of bringing together into a single company several of the activities in the process of creating a manufactured product, such as the acquiring of raw materials, the manufacturing of products, and the marketing/selling/distribution of finished goods
The principle that the govt should not interfere in the workings of the economy
Gospel of Wealth
Carnegie's idea that all possessors of great wealth have an obligation to spend or otherwise disburse their money to help people help themselves
The argument that competition in society produced the survival of the fittest, and so benefited society as a whole. Opposed to efforts to regulate competitive practices.
Controlled the New York Central Railroad
Work for which the pay is based on the number of items turned out, rather than by the hour
Labor union that organizes skilled workers engaged in a specific craft or trade
National Labor Union
Federation of trade unions and reform societies organized at Baltimore in 1866. It lasted only 6 yrs but helped push through a law limiting govt employees to an eight hr work day
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