A person who controls the commercial production and sale of goods and services.

industrialist

Union led by Terence Powderly. Consisted of

skilled and unskilled workers, women and factory workers. Disappeared by the 1890s.

Knights of Labor

An organization that represents workers get better

hours, working conditions and wages.

Labor union

The domination of an industry by one company.

One company controls most of an industry.

monopoly

Investment banker who later bought Carnegie Steel and

created U.S. Steel.

J. Pierpont Morgan

1894 railway workers strike. Grover Cleveland issued an

injunction ordering the workers to stop the strike. Workers refused and the

army put an end to the strike.Pullman Strike

Industrial leaders who became wealthy through

unethical means.

Robber barons

Leader of the oil industry. Controlled the Stand Oil

Trust.

John D. Rockefeller

1890 law which outlawed trusts and monopolies. Not

very effective.

Sherman Antitrust Act

A work stoppage by employees trying to get workers to meet their

demands.

strike

Economic theory which talks about how many goods there are to buy and the interest in

buying them.

Supply and demand

When a single board of directors controls several corporations in a related industry. Forms a sort of

monopoly.

trust

An organization that represents workers in

negotiations for wages, hours, conditions, and job

security.

union

The growth of cities through immigration and people coming from rural areas.

urbanization