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| unlimited liability |
when you own the company and you can loose more then you invested |
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jnc Mon, 15 Mar 2010 21:56:39 GMT |
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| limited liability |
only loose what you invested |
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jnc Mon, 15 Mar 2010 21:40:31 GMT |
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| strike |
workers refused to work |
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jnc Mon, 15 Mar 2010 21:40:31 GMT |
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| lock out |
employers refuse to let employees work |
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jnc Mon, 15 Mar 2010 21:40:30 GMT |
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| Henry Frick |
locked workers out of plant in Homestead Lock out |
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jnc Mon, 15 Mar 2010 21:40:30 GMT |
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| importance of electricity |
cheap, easy, powerful source of power |
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jnc Mon, 15 Mar 2010 19:59:26 GMT |
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| importance of steel |
better buildings, bridges, and railroads |
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jnc Mon, 15 Mar 2010 19:59:26 GMT |
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| philanthropy |
the act of deoing good deeds |
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jnc Mon, 15 Mar 2010 19:57:39 GMT |
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| Social Darwinism |
the belief that you need to adapt to your environment in order to survive-if you do, you survive but if you don't, you'll die |
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jnc Mon, 15 Mar 2010 19:57:39 GMT |
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| Collective Barganing |
when workers would team up against the employers to get what they wanted |
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jnc Mon, 15 Mar 2010 19:57:39 GMT |
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| Frederick Taylor |
an engineer who owned a steel company and supported the use of machines. He thought that the workersd weren't people, but just part of the process. EFFICENCY EXPERT |
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jnc Mon, 15 Mar 2010 19:54:52 GMT |
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| assembly lines |
when different people (or things) did a different part of the process of making something |
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jnc Mon, 15 Mar 2010 19:54:52 GMT |
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| What was the government's role in labor disputes? |
took the employers' sides |
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jnc Mon, 15 Mar 2010 19:54:52 GMT |
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| Haymarket Square |
employees wanted 8 hour days (instead of 12), so they went on strike. They all gathered in Haymarket Square. When they were about to leave, the police showed up and someone fired at the police and killed 7 of them and 1 civillian |
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jnc Mon, 15 Mar 2010 19:54:52 GMT |
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| Homestead Lock-Out |
Henry Frick wanted to add machines to the factories but the employees didn't want him too. He locked them out of the building a week later, the PA militia came in and escorted non-Union workers to work. The lock out went on for 4 months |
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jnc Mon, 15 Mar 2010 19:46:49 GMT |
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| Pullman Strike |
George Pullman layed off half of the company's workers and cut the ones that were left's wages in half. The workers then went on strike. The government took Pullman's side and added a mailcart to the train so that if they didn't work, it would bea federal crime to interfere eith the mail. |
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jnc Mon, 15 Mar 2010 19:41:50 GMT |
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| American Federation of Labor |
skilled workers only-hard to replace because they were all skilled |
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jnc Mon, 15 Mar 2010 19:41:50 GMT |
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| Knights of Labor |
a union set up like a secret society (because the employers can't fire them if they don't know if they're Union members) and excepted EVERYONE-skilled or unskilled |
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jnc Mon, 15 Mar 2010 19:41:50 GMT |
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| partnership |
2 or more people doing a business (unlimited liability) |
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jnc Sat, 13 Mar 2010 21:34:49 GMT |
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| sole proprietorship |
a business with only 1 owner |
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jnc Sat, 13 Mar 2010 21:34:49 GMT |
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| anarchists |
people who oppose all forms of government |
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jnc Sat, 13 Mar 2010 21:34:49 GMT |
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| John Rockefeller |
wealthy, USED HORIZONTAL INTEGRATION TO MAKE OIL |
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jnc Sat, 13 Mar 2010 21:34:49 GMT |
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| Andrew Carnegie |
philanthropist, USED VERTICAL INTEGRATION TO MAKE STEEL |
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jnc Sat, 13 Mar 2010 21:32:20 GMT |
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| patents |
an exclusive right to make and sell an invention- proof that you own the invention (yours for 15 years) |
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jnc Sat, 13 Mar 2010 21:32:20 GMT |
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| Sherman Anti Trust Act |
outlawed monopolies and trusts that RESTRAINED TRADE |
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jnc Sat, 13 Mar 2010 21:32:20 GMT |
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| trusts |
a company that doesn't DO anything, but owns stock in lots of other companies |
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jnc Sat, 13 Mar 2010 21:32:20 GMT |
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| horizontal integration |
owning all the stores in a certain field |
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jnc Sat, 13 Mar 2010 21:28:40 GMT |
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| vertical integration |
owning each step of the manufacturing process |
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jnc Sat, 13 Mar 2010 21:28:40 GMT |
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| corporations |
business that sells shares of stock which represents companies- owned by shareholders (limited liability) |
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jnc Sat, 13 Mar 2010 21:28:40 GMT |
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| free enterprise |
when the government doesn't interfere with business- businesses can do whatever they want as long as it is not illegal |
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jnc Sat, 13 Mar 2010 21:28:40 GMT |
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| entrepreneurs |
people who started new businesses- risked taking business people |
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jnc Sat, 13 Mar 2010 21:25:09 GMT |
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| Thomas Edison |
investigated the practical use of electricity CREATED THE FIRST ELECTRIC LIGHT BULB awarded more that 1000 patents |
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jnc Sat, 13 Mar 2010 21:25:09 GMT |
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| 2nd Industrial Revolution |
machinery and new inventions to make products cheaper and more officially (railroads, skyscrapers, bridges) |
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jnc Sat, 13 Mar 2010 21:25:09 GMT |
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| Bessemer Process |
a quicker and cheaper way of making iron into steel- blasted hot air through it to remove waste material |
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jnc Sat, 13 Mar 2010 21:25:09 GMT |
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