Pros And Cons Of The Gilded Age

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The Gilded Age was an era reflecting the combination of outward wealth and dazzle with inner corruption and poverty. This time lacked leadership of a president, which led this to be a period defined completely by negatives. John D. Rockefeller, Andrew Carnegie and J. Pierpont Morgan were some of the most momentous and dynamic captains of this era in American history. Their tactics in the world of industrialization were not always fair, but in order to crush the competition they allowed very little get in their way. With the booming business of the Standard Oil Company (John D. Rockefeller), the brilliant railroad monopolizer (J. Pierpont Morgan) and one source of his steel success (Andrew Carnegie) the United States was able to continue on their way to a powerhouse of an economy. These three individuals built businesses in industries that seemed to be struggling in order to help themselves…show more content…
Instead of the rags to riches story, Morgan, born into a wealthy family, was given the financial world to conquer. “He financed railroads and helped organize U.S. Steel, General Electric and other major corporations while using his influence to help stabilize American financial markets during several economic crises.” Like most wealthy business men at the time, Morgan “had too much power and was accused of manipulating the nation’s financial system for his own gain.” Overall, Rockefeller, Carnegie, and Morgan all built businesses for struggling industries in order to save the nation and help themselves succeed. Capitalism, America 's new economic system, depended on competition and played a huge role in the overall process. During this era, industries became so powerful that it had no competition and could charge whatever it wanted and have no incentive to produce cheaper, better products. This, along with other business practices, although not all practical or honest, is what allowed our nation to
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