During the late 1800s there was a time period called the “Gilded Age”. The Gilded Age is a time period the economy was struggling along with the people of the era. Andrew Carnegie, John D. Rockefeller, and Thomas Edison were some examples of successful business owners and Robber Barons of that time. Robber Barons were the people who stole money from the public along with natural resources such as soil, land, etc. These men were supposed to be great leaders, but instead they enforce horrible working conditions.
American businessmen, of the 1800’s, built America to be one of the greatest superpowers in the world. To start, businessmen of the 1800s consisted of men like John D. Rockefeller, Cornelius Vanderbilt and Andrew Carnegie. Some of these men were split by how they got their money; Captains of Industry and Robber Barons. Captains of Industry were business leaders that helped the nation in a positive way. On the other hand, Robber Barons were men that shrewd capitalists, swindled the poor and benefitted for themselves.
A “robber baron” is defined as one who uses immoral methods to get rich. John D. Rockefeller, king of oil and the owner of the Standard Oil Company, was known for these unscrupulous tactics. Rockefeller’s peculiar ideas of the “law of nature” in accordance with his “primitive savagery” allowed this stealthy businessman to manipulate his way to the top. Although Rockefeller’s oil monopoly attributed to the wealth of the American economy, he destroyed the morality of modest men to accomplish ultimate power and prestige making him one of the wealthiest industrialists during his time.
The charge about the old days of the American economy—the nineteenth century, the “Gilded Age,” the era of the “robber barons”—was that it was always beset by a cycle of boom and bust. Whatever nice runs of expansion and opportunity that did come, they always seemed to be coupled with a pretty cataclysmic depression right around the corner. Boom and bust, boom and bust—this was the necessary pattern of the American economy in its primitive state. In the US, in the modern era, all this was smoothed out.
A Robber Baron means is a successful industrialist whose business practices were often questioned because they were ruthless or unethical. Robber Barons helped shape America in many ways, whether it was saving New York from a financial crisis or finding a better way to produce steel. Although they did some pretty good things for America, I believe Robber Barons were villains. Robber Barons typically had little empathy for their workers and often had them working in horrible conditions for little pay. They would often keep their pay at minimum wage and would cut it if they felt necessary.
Four hundred American billionaires own two trillion dollars, as much as the one hundred and fifty million Americans on the very bottom. The top one percent of the richest American own one fifth of the nation’s total income. Similar to the Gilded Age, people who do business and live in urban centers earn much more money than who do not. The unprecedented technological innovation cause the production easier and faster, which renders the employers benefits. Also, the economy gives huge advantage to those who control lots of money, causing the economic disparity even deeper and promoting the appearance of the “Robber Barons,” unscrupulous businessmen who achieve monopolies in their
McClelland’s article “RIP the Middle Class” was published September 20th 2013 in a salon, which is an online news site that publishes pieces that includes fearless commentary and criticism point of views. McClelland’s Rhetorical statement is that big automotive cities are diminishing which is a result of losing; which as of a result of this causes the middle class to lose. The rhetorical statement that McClelland indulges to the audience is to be persuaded by the aim which is once known as the “blue-collar aristocrats” to the “blue-collared” workers. Whom struggle to pull in a national median title of “middle class.” The time era that this has taken place started in the 1970s, remembered by Americans as the “Decade That Those Forget” which blue-collared workers prospered in the middle class economy.
When Cornelius Vanderbilt died he left his $100 million fortune to his son William Vanderbilt and they both had the same attitude. During the Gilded Age these big business and their owners were thought of as being Robber Barons or Captains of Industry. The poor working conditions that were provided, the corruption they led in government, and their use of child labor shows that they were Robber Barons. Children were used in labor to work a lot and most days of the week. Kids as young as 5 often worked as much as 12 to 14 hours a day for barely any pay.
Reading through RIP, the Middle Class: 1946-2013, it became fairly obvious that the author, Edward McClelland, was presenting a thesis idea that consisted of promoting the middle class through examples of its prime time when middle class thrived. McClelland made the point clearly as he repeatedly provided examples ranging from the glory days of the assembly line industry that had provided high paying jobs for many people, to presidents who attempted to keep business within the United States to promote home grown jobs. He was especially focused on the point that the middle class was shrinking due to a large discrepancy between the wealthy and the rest of society as capitalism achieves its goal of padding the wealthiest and keeping the middle
The Civil War not only abolished slavery, but also threw the significant challenge of rebuilding a war-torn nation. Although initiated with the best hopes and intentions, the ‘Reconstruction’ of the USA had collapsed miserably for it had failed to establish a nation with equal rights for all. As a consequence, class discrimination and racial injustice had engulfed the American society. Besides having similarities and differences, the struggles for racial justice in the late 19th century and the struggles for economic justice in the Gilded Age are not only reminders of the failed ideology of the reconstruction, but are also evidence which shows us that the upper class of the society in that era were reluctant about the upward mobility of the poor.
An interesting article was published on CNBC’s online news outlet, titled “Two-Percent Growth is a Loser for the Angry Middle Class.” The article talks about the fact that the economy is growing at about two percent and that a recession is not forthcoming, but that middle class wages are continuing to flat-line. The article details many economic issues, such as middle class wages not changing, the low GDP when compared to past years, and what should be done to fix this issue in the United States. GDP and Real GDP are discussed as well, along with the importance of GDP in the economy.
Could the rich control on how inequality affect the American economy? While, many Americans are facing unemployment; the rich are getting wealthier. The management of successful companies are taking avenge of the working class to apply less labor to achieve high profit for themselves. In Up Against Wal-Mart, Karen Olsson explores on how Wal-Mart are being unfair to their employees. The upper management are under paying and asking their employees to work extra hours with not paying them for those hours.
1920s Organized Crime This exhibit is focused on the “Roaring 20’s”, and what made the 1920s roar. The Roaring Twenties roared because of the vast amounts of spending, the crime, and people just having fun. Willie Sutton was an extravagant bank robber during the 1920s. Sutton was born on June 30, 1901 in Brooklyn, New York.
Atlantic Media Company, 18 May 2012. Web. 27 Apr. 2016. "The American Middle Class Is Losing Ground. "
More than three billion people, nearly half of the world’s population, has an income of less than $2.50 a day. In addition, more than 1.3 billion live in extreme poverty their income is $1.25 a day. Additionally, this mind-blowing statistic stress the fact that consumer behavior may be the main reason behind poverty. The first use of consumerism term is in 1944 mutual movement in the USA in 1930s.
