1. Corporation Separate unions of skilled workers, united together Knights of Labor Child Labor Group formed by workers to improve working conditions Theory that gov’t should not interfere in the free market Federal Law to stop monopolies-shift in gov’t attitude UnionSweatshop Interstate Commerce Act Laissez-faire Samuel Gompers Factory with long hours, low wages, poor conditions Refining Founder of AFL Enforces Interstate Commerce Act Turning crude oil into useable products

2. Captain of Industry Place where only union members could be hired Haymarket Affair of 1886 Entrepreneurs lived lavish lifestyles 1865-1900 Closed Shop Strike Labor leaders blamed for bomb explosion at strikers demonstration Entrepreneur American Federation of Labor (AFL) Terrence Powderly Temporarily refusing to work to protest an employer’s work practices Shareholder Leader of Knights of Labor during growth period of 1880’s Attempt to create a single national union- loose org & problems tween un/skilled Purchaser of stocks-(partial owner) Interstate Commerce Commission

3. Invented the first incandescent light bulb Free Enterprise System Andrew Carnegie Entrepreneurs that used ruthless tactics to destroy competitions & low wages Made his wealth in the steel industry- philanthropist in latter life John D. Rockefeller Robber Baron Act of giving money, endowments, property, etc.. Made his fortune refining oil-Had secret benefits from train companies Sherman Anti-trust Act Monopoly Philanthropy National Market Use of children in mills, mines, & factories Company having complete control over the supply of a product or service Law prohibiting unfair practices by railroads

4. Transcontinental Railroad Economic way to produce steel Railroad that crosses the US-met at Promontory Point Bessemer Steel Process Thomas Edison Alexander Graham Bell Replaced telegraph as a means of communication Gilded Age Consolidate Inventor of the telephone Telephone Entrepreneurs that forged modern industrial economy Join together Person(s) who start a business to make a profit Issues stocks- shares and is considered a “separate person” Individuals determine prices, what to produce & sell- supply & demand Transportation improvements make it possible to sell goods anywhere in the nation