How Did The Gilded Age Affect The Economy

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The gilded age was an era in the united states of rapid growth during the late 19 century. Were Americans were making more money and the economy was increasing at such a fast degree, but also much social conflict was involved as well. With higher wages means higher demand for work, and that people from all over come to America. The gilded age was a time were the American people were being blinded by the businessmen and the wealthy. Businessmen like Andrew Carnegie controlled much of the enormous expansion of the American steel industry, and Leaving small business very vulnerable. “While the rich wore diamonds, many wore rags. In 1890, 11 million of the nation's 12 million families earned less than $1200 per year” ( pbs) Leaving a large gap between the rich and the poor. So even though the gilded age meant economic growth, but outside society may seem great , underneath there is poverty, crime, corruption, other issues between the rich and poor. The term Gilded Age has a meaning …show more content…
Carnegie ran most of the steel industry which was one of the U.S main source of traveling and income. With the railroads being one of the most essential use in America. Also with railroads being built all over America, the railroads needed to be built to travel all of its goods from all over the United States. So with Carnegie controlling all of the railroad controlling the railroads he was able to charge his workers whatever he wanted and higher who ever he wanted. Many factories that help create all those products were done by children and the conditions were brutal and low pay. The workers were treated like slaves. The businessmen were pretty much calling the shots for Capitol Hill, and with all of their power they have in the government they could maneuver around the laws. Thats why it was called Gilded, gilding something means covering it up with gold. It looked nice on the outside but it was ugly and crude on the

How Did The Gilded Age Affect The Economy

The Gilded Age, a term coined by Mark Twain and Charles Dudley Warner refers to the years after the Civil War. During the Gilded Age, the American economy grew at an extraordinary rate and as a result led to a generation of unprecedented levels of wealth. There was the development of railroads and later on telephone lines which created new opportunities and cheaper consumer goods (Arnesen et al., 2006). During these years, the United States became increasingly divided as a result of the emergence…

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How Did The Gilded Age Affect The Economy

After the Civil War, the South needed to change its views on labor and property as the North initiated Reconstruction and the spread of industrial growth. During The Gilded Age, new business activity centered on cities, therefore, people moved from rural areas in the South to cities in the North. Machines replaced hand labor for manufacturing, a new network of railroads distributed goods nationwide, and as inventors developed new products, businesses made the products in large quantities. Although…

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