Chapter 14: Forging the National Economy, 1790-1860
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Capitalist
| an individual or group who uses accumulated funds or private property to produce goods for profit in a market.
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Factory
| an establishment for the manufacturing of goods, including buildings and substantial machinery.
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Incorporation
| the formation of individuals into an organized entity with legally defined privileges and responsibilities.
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interchangeable parts
| parts that are identical and can be substituted for one another.
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labor union
| an organization of workers--usually wage-earning workers--to promote the interests and welfare of its members, often by collective bargaining with employers.
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Liability
| legal responsibility for loss or damage.
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Nativist
| one who advocates favoring native-born citizens over aliens or immigrants.
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Patent
| the legal certification of an original invention, product, or process, guaranteeing its holder sole rights to profits from its use or reproduction for a specified period of time.
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Posterity
| later descendants or subsequent generations.
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Productivity
| in economics, the relative capacity to produce goods and services, measured in terms of the number of workers and machines needed to create goods in a certain length of time.
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Strike
| an organized work stoppage by employees in order to obtain better wages, working conditions, and so on.
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Trademark
| a distinguishing symbol or word used by a manufacturer on its goods, usually registered by law to protect against imitators.
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Turnpike
| a toll road. |
