One of the first people to define the era that is now called the ‘Gilded Age’ was Mark Twain. He described the time period as ‘glittering on the surface, but corrupt underneath.’ Sadly, this statement was quite accurate, for the Gilded Age was sparked by the Second Industrial Revolution, which was a time of innovation but also corruption. Although many aspects of the country were being revolutionized during the Gilded Age, and some people benefited from the changes, these changes also brought about new problems for many other people. In the late 19th century, technology, inventions, sources of energy, railroads, and the market were all being revolutionized, which is why the era is also appropriately titled the Second Industrial Revolution. …show more content…
These businesses applied the concepts of horizontal combination and vertical integration. John D. Rockefeller was one who used horizontal combination to his benefit. His goal was to monopolize on the oil market by allying with every other company in the oil industry to form one single firm, and he almost did just so, controlling 90% of the nation’s oil with his Standard Oil Company. Steel production increased because of Andrew Carnegie, and his use of vertical integration. By purchasing railroad companies and iron mines, Carnegie had control over the whole production of steel, from the raw materials to the finished product. His control of the entire manufacturing process increased efficiency and decreased prices. Beneath the positive effects, Rockefeller and Carnegie’s business practices were loopholes to creating monopolies, so eventually, the federal government passed antitrust laws, which, in reality, hurt all …show more content…
Charles Darwin created natural selection laws, such as “survival of the fittest”, so when it came to Social Darwinism, the laws Darwin made were applied to humans and society. This new idea was supported by both science and Christianity, at the time. Carnegie caught on to the concept and wrote a book called ‘The Gospel of Wealth,’ stating that the wealthy men had a responsibility to use their wealth for the greater good of society. Although it appears Carnegie used Social Darwinism for good, many wealthy people used it justify class divisions and to assert their moral superiority over the rest of society, including the extremely poor in urban settings. In effect, racism, nativism, and the discouragement of unions increased in
Nevertheless, these were not legal mergers and Rockefeller used this to gain control of the oil industry of America. Once he controlled the market, prices rose far above original levels. Critics
John D. Rockefeller created the business called The Standard Oil Company. He could borrow money and buy out some of his partners. The Standard Oil Company did everything on their own from building barrels to employing scientists to help test their oil. However, as years passed he started being accused of certain things. He crushed out any competition he had, was getting rich on rebates from
Rockefeller obtained a monopoly over the oil industry by purchasing competitor refineries and expanding companies for distributing and mass-producing his products all across the globe. Also, Andrew Carnegie made his fortune in his early 30’s by entering and dominating the steel business. He created the Carnegie Steel company, which
The entrepreneurs and businessmen of these corporations became very powerful and made a large profit for themselves. An example of an extremely powerful businessman was Andrew Carnegie. He created his own iron manufacturer and then sold his network to railroad businesses. Carnegie refined iron into steel, which advanced the ability to build stronger and taller buildings such as skyscrapers. “Technological and business efficiencies allowed Americans firms to grow, invest in new equipment, and earn profits even as prices for their products fell.
In a time after the Civil War, when a transcontinental railroad was created connecting the East and West, people began to move and settle across the country, creating new urban cities and manufacturing hubs. It was because of the railroad that the Second Industrial Revolution and the Gilded Age took place which rapidly increased the manufacturing of products through the new machines in factories and the spread of ideas by the telegraph and railroad. It was in this context that many farmers, as well, began to move West and experience a loss in the prices of their crops. It is also in this context that many workers were forced to work long, laborious hours with little pay. Farmers responded to industrialization in the Gilded Age by forming organizations such as the Granger movement and the Farmers Alliance as well as creating the Populist Party.
Some men such as Andrew Carnegie and John D. Rockefeller took total control of their respective market and created an enormous
Industries developed new methods to increase efficiency levels—as well as profits. Andrew Carnegie, owner of the Carnegie Steel Company, pioneered the use of vertical integration. Under this system, Carnegie bought out companies that provided raw materials and services that he needed. Iron, for example, is a main component of steel.
The 2nd Industrial Revolution had a substantial impact on the world, especially with all the groundbreaking innovations that came out of this period. The technological advances of this time period are so significant that they usually dominate discussions on the importance of the 2nd Industrial Revolution and its consequences. However, despite all that was done for technology, the 2nd Industrial Revolution played a crucial role both socially and politically. The improvement of the public health system and the spread of urbanization, which led to a rise in the working class; as well as a new political party formation, are just a few examples of the social and political impact the 2nd Industrial revolution had on European society.
As soon as the Civil War ended, America started to emerge as an industrial nation. It had become known as the Second Industrial Revolution which began in the mid-nineteenth century. This Second Industrial Revolution will lead to new technologies and new inventions. Industry revolutionized America because it helped inventors create technologies and inventions which will affect farmers, industrial workers, and women.
Even further, these robber barons would often ruthlessly eradicate competition by buying out other companies to establish monopolies through the horizontal and vertical integration of production and product.
The Second Industrial Revolution in America, though beneficial to the growth of our nation, was built by the blood and sweat of overworked coal miners between the late 1890s and the turn of the century. Coal became an essential part of life for the average family, for it fueled the industry which people worked (i.e. factories and mills), and gave warmth and a cooking stove to their homes. One would think that those working in the dangerous mines—for such a public necessity—would be compensated fairly for their work, unfortunately the opposite was occurring. Large, privately owned, coal operators, such as those in Kanawha County, West Virginia, allowed greed to override their common decency, as they took advantage of the uneducated, and desperate workers. After many attempts of an amicable resolution to unwavering private operators, a tipping point shifted the balance for the coal miners, and a strike was inevitable.
Throughout all of human history, advances in technology have sparked changes in society. From the stone tools of the early humans to today’s smartphones, technology has influenced history and helped shape the world to its current form. One historical period that featured significant advances in technology was the Industrial Revolution, which occurred in the 18th and 19th centuries (“Industrial Revolution” 615). During this period, much of Europe and the United States began to shift away from agriculture towards manufacturing, disrupting the existing economy and society and setting the stage for the modern world. Three technological advances of the Industrial Revolution that profoundly transformed American society were the cotton gin, which
The Industrial Revolution, which occurred in the eighteenth and nineteenth centuries, transformed America from a rural society based around agriculture to an urban and industrial one. Innovations such as the Bessemer process for the mass production of steel, inventions such as the telegraph and telephone, and the development of transportation systems all contributed to this significant shift. The Industrial Revolution marked a turning point in American social attitudes to a significant extent in that nativism and animosity against immigrants markedly increased, and by the end of the Gilded Age, women had emerged into larger societal roles. Firstly, as a result of the American Industrial Revolution, women were given more significant roles in
Lastly, industrialization created unpredictability in markets which made businesses want to control the whole market themselves. In turn, this allowed for few businesses to control capital in an entire industry. During the time of Rockefeller, sometimes his oil was worth $20 for a barrel or 20 cents (46). One way to make the oil market predictable was to take out the competitors. In the case of Rockefeller, he did.
Andrew Carnegie controlled the railroad system. The development and expansion of the railroad system made transportation easier and created a huge success for goods to be traded within America and internationally. John D. Rockefeller was the creator of vertical integration.