It’s Just Business

4. a skilled worker labor union founded by Samuel Gompers that focused on wages, hours, and working conditions.
5. Carnegie‘s belief that the rich had a moral duty to distribute their fortunes for the public good.
6. a market condition in which a single company controls the entire supply of a product.
8. a federal law passed in 1887 that aimed at regulating railroad rates and practices to limit unfair treatment of farmers and small shippers
9. an 1886 Chicago labor protest that turned violent after a bomb exploded, helping to discredit the labor movement.
11. strategy used by Rockefeller to buy out rivals and consolidate firms producing the same product.
12. an 1894 national labor conflict that was triggered by wage cuts in a company town ending with federal troop intervention.
14. a critical nickname for industrial lists, accused of exploiting workers, corrupting politics and manipulating markets.

1. a business strategy perfected by Carnegie in which a company controls all steps of production, from raw materials to distribution.
2. a piece of legislation passed in 1890 that broke up combinations that restrained trade, though it was originally used against labor unions.
3. a theory applied to capitalism arguing that competition and survival of the fittest justified wealth inequality.
7. a system of scientific management that subdivided tasks to increase efficiency, but reduced workers to repetitive labor.
10. a broad labor organization of the 1880s advocating workplace cooperatives, an eight hour workday, and equal pay for women.
13. large combinations of corporations formed to reduce competition and dominate markets under a unified management.