Removal of impurities from iron by oxidation with air being blown through the molten iron. The oxidation raises the iron's temperature and keeps it molten.
First inexpensive industrial process for the manufacture of steel from molten pig iron.
Sherman Anti Trust Act 1890
Prohibited any contract, combo in the form of a trust or conspiracy in restraint of trade or commerce.
It didn't do much to stop the development of trusts, as it was too vaguely worded and it could only be applied to commerce and not to manufacturing.
American industrialist and pioneer automobile manufacturer whose legacies include the Ford Motor Company and the assembly line.
The assembly line made it easier and faster for goods to be mass produced and distributed. Today, the FMC is one of the largest automobile producers and distributors in the world.
Automobile built by the FMC from 1908 until 1927.
Assembly line production methods enabled the price of this car to go from $850 in 1908 to $300 in 1925. And over 15 million were built. Replaced by the popular Model A in 1928.
The first widely affordable mass-produced car.
William and Orville Wright
Inventors of the first aircraft controls that made fixed-wing powered flight possible.
Made modern flight possible.
Place where the Wright Brothers made the world's first heavier-than-air flight.
Frederick W. Taylor
American mechanical engineer who sought to improve industrial efficiency and who is regarded as the father of scientific management and one of the first management consultants. One of the intellectual leaders of the Efficiency Movement.
His ideas were highly influential in the Progressive Era. Taylorism.
Theory of management that analyzes and synthesizes workflow processes, improving labor productivity.
Theory of management that analyzed and synthesized workflows by improving economic efficiency via labor productivity. One of the earliest attempts to apply science to the engineering of processes and management. Development began with Taylor within the manufacturing industries. Its peak of influence came in the 1910s; by the 1920s, it was still influential but had begun an era of competition and syncretism with opposing or complementary
Most of the themes are still
important parts of industrial engineering and management today
Thomas Alva Edison
American inventor who changed the world by not only inventing the lightbulb, but finding 2,000 ways not to make a lightbulb.
Other inventions include the phonograph and the motion picture camera.
The Wizard of Menlo Park
Nickname for Edison given by a reporter from NJ because he was one of the first inventors to apply the principles of mass production
and large teamwork to the process of invention.
Credited with the creation of the first industrial research laboratory.
Alexander Graham Bell
Inventor of the telephone.
Life's work influenced by his mother and wife's deafness.
First man to mass produce steel.
Paved the way for modern transportation and structure of buildings.
John Pierpont Morgan
American financier, banker and art collector who dominated corporate finance and industrial consolidation. Merged Edison General Electric and Thomson-Houston Electric Company to form General Electric.
Form the United States Steel Corporation out of many steel companies, including Carnegie's.
strategy used by a business or corporation that seeks to sell a type of product in numerous markets that occurs when a company is being taken over by or merged with another company in the same industry and same stage of production as the merged company.
Style of management control introduced by Carnegie in which companies in a supply chain are united through a common owner, with each supplier supplying a different product and supplies come together to satisfy a common need from people.
John D. Rockefeller
American oil magnate who revolutionized the petroleum industry and defined the structure of modern philanthropy.
In 1870, he founded the Standard Oil Company ran it until he retired in 1897.
grouping together of resources for the purposes of maximizing advantage and/or minimizing risk to the users.
Business entity formed with intent to monopolize business, to restrain trade, or to fix prices.
Otherwise known as a monopoly.
Self-Made Man myth
American entrepreneur who built his wealth in shipping and railroads.
Patriarch of the Vanderbilt family and one of the richest Americans in history.
"Survival of the fittest." Based on natural selection in biology; thought be some that it could be used in the marketplace.
Metaphor coined by economist Adam Smtih used to describe the self-regulating nature of the marketplace. It is created by the conjunction of the forces of self-interest, competition, and supply and demand.
Most influential of the social Darwinist who thought that Darwin's idea could be used in the marketplace.
He believed that the concentration of wealth was a benefit to the future of the human race.
William Graham Sumner
American author best known for his juvenile novels about impoverished
boys and their rise from humble backgrounds to lives of the middle-class and comfort through hard work, determination, courage, and honesty.Wrote for adults first, then wrote for youngsters.
Gospel of Wealth
Belief that God and religion had to do with one's wealth, not Darwinism.Firm believers were Rockefeller and Carnegie.
Progress & Poverty
Book written by Henry George in 1879 that explains why poverty exists notwithstanding widespread advances in technology and where there is a concentration of great wealth such as in cities.
Utopian novel by Edward Bellamy, a lawyer and writer from western Massachusetts, that was first published in 1888.
Appears by title in many of the major Marxist writings of the day.
National Labor Union
first national labor federation in the United States. Founded in 1866, led by William H. Sylvis and dissolved in 1873.
Paved the way for other organizations, such as the Knights of Labor and the American Federation of Labor.
Members of a secret Irish-American organization that were often accused of kidnapping and other crimes, largely because of the allegations of one powerful industrialist and the testimony of one Pinkerton detective.