The Gilded Age By the late 1800s, he United States economy had finally become industrialized and was soon to become monopolized. Railroads were becoming the most important factor of American economy, and local businesses were being put out of work. This time period was commonly known as “The Gilded Age”. Meaning on the outside our economy looked marvelous, but beneath that golden skin, corruption and injustice plagued our society and made the rich even richer. America’s “Second Industrial Revolution” was a growth spurt of the economy that would prove to weed out the weak and create the original business moguls whose wealth still resides today.
How did some people during the Gilded Age manage to be wealthy and successful while others struggled to survive and provide their families with the basic needs? The Gilded Age took place during the 19th century and was time of prosperity for the wealthy and a time of severe poverty for the poor. During the Gilded age, some people, in this case the rich, really did benefit from the industrial economy that was created. While the rich benefited, the poor were making less than what they should have and were struggling to keep a decent life. The lifestyle of these two groups of people are significantly different, but also have some aspects in which they are similar.
Carnegie, who was a believer of Social darwinism, which was a belief held by many that stated that the rich were rich and the poor were poor due to natural selection in society. This was the basis of many people who promoted a laissez faire style of economy. He believed if you worked hard, you could be successful. He believed that a man of wealth should set modest examples and help those in need (DOC E) Carnegie donated more than 150 billion of dollars for libraries, colleges and concert halls. The high population density of the early twentieth century put pressure on fragile infrastructures and demanded insight from urban planners and politicians.
Krugman writes, “the rich weren’t just getting richer; they were becoming a financial foreigner, creating their own country within a country, their own society within a society, and their economy within an economy.” 563. CEOs or people with an abundance amount of money can give money to politicians create laws or stop enforcing the laws to benefits the rich. Politicians who the Middle-Class and Lower-Class vote for favors the one that could help them and that’s the High-Class. Economic inequality is hurt the middle-class and the lower-class who already had a rough time getting a life. When the High-Class is becoming richer the Middle-Class and Lower-class become poorer it creates social Inequality.
A decline in transport costs helped create a rapid expansion of global trade and economic growth. The rise of new industries and factories led to the generation of more jobs in the manufacturing sector. When the mass production of the Industrial Revolution flooded the market with affordable consumer goods, these manufactured goods greatly improved the living conditions of the citizens of these industrialized countries. The middle class population could afford the goods anyway, the prices lowered even more, they now had different options to choose from, they could enjoy the comfort and convenience of the new products being made. The standard of living rose, the cost of living decreased, the population experienced a large
The American dream was first used by James Truslow Adams in his book ‘The Epic of America ’which was written in 1931. He states: “The American Dream is that dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement.”Today,I want to discuss the American dream in parts. Why the American dream can cause such huge influence in America?You know,centuries ago America was experiencing huge turbulence,which called The economic crisis.People became homeless and the capitalists mastered the money.they did have the ability to help the weak to get through the difficult time,but they didn ‘t.So more and more people began to think about a happier life that,in this world,there is no violence,no hunger and no exploitation.People in this world can help other people normally and they convinced that if everybody can fight with their own hands,each personcan have a brighter future(My Inner monologue:things already became so worse,why not imagine something beautiful?) And that’s the reason why when a leader stand out and pronounce the dream,mostly American people get inspiration. I think the most important thing that the American dream has taught us is to hold a positive attitude towards life.
Mass production became a big theme during this time, which allowed prices to lower on several goods. Trade with other countries, also helped these businesses. For Britain where the Industrial Revolution seemed to hit first, trade really benefited them. Since they had the largest ship fleet, they could trade with the Americas very easily and in high quantity. Those countries relied on Britain for trade as well as others in
With the failure of capitalism, the communist parties (the Social Democratic Party and the Communist Party) began to grow. They greatly appealed the lower class, who wanted a socialist state where there were no classes and everyone was idealistically equal. People also saw that the effect of the Great Depression was basically nonexistent in the Soviet Union which was governed under a Communist Party. These two parties combined would have a larger supporters than the Nazis, due to the large majority of the lower working class, however they were rivals to each other. The Nazi party, which was also a rapidly growing party, appealed to many of the public as people began to have a better image of Hitler and his party.
The Industrial Revolution made distinctive positions of the upper and lower class. Factory workers did not earn enough money to increase their social standing in society. On the other hand, factory owners became wealthy and rose to the top of the social class. Even though the upper and lower class were effected, the middle class experienced the biggest effect. The middle class grew bigger than ever due to capitalism and economic growth from the new increase in factory worker and the need of specialized workers.
The nations had a race to get as many colonies as they could. Most people believed that the more colonies a country had, the better of that country would be. Most people also believed this time period was the chance to secure greatness for their country within the future. Great Britain is a prime example of this case, the country had enjoyed an excellent economy and increase in military power due to their head start in imperialism. This is not the only ideal that was widespread during this time, the mindset of social-darwinism also had a great influence on the people.
As our country reached the late 1800’s, Americans found themselves face to face with era known as the ‘Gilded Age’. Companies were created and grew rapidly during this time period. Some of the most famous entrepreneurs were John D. Rockefeller and Andrew Carnegie, who seemed to be the perfect models for the ‘rags to riches’ story. Many people debate which entrepreneur was a better role-model. Due to his low prices, the high demand for his products, and the way he sought to eliminate any possible competition, John D. Rockefeller is clearly the better role-model for today’s entrepreneurs.
As industry exponentially grew after the Civil War, the need for labor and materials to power newly-created manufacturing giants caused new social classes to form: the rich corporation owners and the poor laborers. Unfathomably rich Robber Barons, or plutocratic American Capitalists, dominated the economy and industry and profited from the slave-like work of millions of poor laborers during this time period. Moreover, the poor working class and the rich further divided by distribution of wealth. Therefore, exploitation of capitalism widened the gap between the rich and poor classes of America, and both newly-formed classes developed reasons for the change. During the period of industrialization, between 1865 and the early 1900’s, corporate
People who were once ridiculed for their poverty were now fairly prosperous owning their own land but still found themselves inactive members of politics. They began to realize that the government was mostly controlled by the wealthy and mostly benefitted them. The 1824 presidential election results proved their sentiments even more because even though the War Hero of the West Andrew Jackson had the most electoral votes, the wealthy New Englander John Quincy Adams became President. When the next election came, the
Another example of Jacksonian Democracy giving a helpful hand to the common folk was with the tariff. The tariff gave the small industries in America to have a chance to rise. When the industries raised so did the workforce, which helped support the common white male. Countries in the south disliked this tariff because it forced them to buy domestic materials at a higher price, but this
In America, many workers in the “Progressive Era” were experiencing more challenges than opportunities and were labor leaders came in with corresponding rights and wages. The wealthy elite having control of basically everything flourished during this time with their efficient modes of performance. Workers under the control of the wealthy elite were defeated with the lost of actual intelligence and unethical conditions. For labor leaders they persuade prosperous Americans by distrusting employers and to negotiate with them - the politicians - to pass their dominant values. With the workers ' frustration of their jobs, it only seems logical that labor unions would have been born.