The economy of the United States became strong rapidly after the Civil War. Before the Civil War and immediately thereafter, businesses in the U.S were not large and a small market was targeted. The incapacity of the businesses to expand was attributed to the fact that there was little capital to fund expansion. Furthermore, technology was not yet at its best and thus the volume of production was much lower given the fact that human labor was heavily relied on. As a result, there was need to establish a bigger market for businesses and widen the scope of operation. In the period between 1870 and 1900, commonly referred to as the Gilded Age, there were remarkable advances in technology. “Technology as a supplement to the slower human labor …show more content…
This sparked the idea of moving from isolationism to imperialism. The United States during the Gilded Age was restricted to isolationism, where the affairs of foreign countries were not looked into. However, a group of people thought that it was wise to switch to imperialism that would “allow the country to economically compete with the rest of Europe and also be able to acquire more territories from which resources could be sourced.” (McCullough, 2015). Imperialism was therefore much more of a response to the stable economy and the thriving businesses that had since been established in the United States. Although imperialism became more effective later on, the idea was developed during the Gilded Age. In conclusion, the development of businesses and stabilization of the economy during the Gilded Age was rapid and by far the best in the history of the United States. This period marked the growth of industries and advance of small businesses to large enterprises. Politically, there was little involvement in national politics and leaders were not specifically involved in service to citizens. The remarkable growth however has since proved to be an important period in the history of the U.S. since it stirred the idea of imperialism, a foreign policy that enabled the country to establish itself as a global super
After the Civil War, business and corporations have expanded significantly throughout the United States. During this time period, known as the Gilded Age, many aspects of the United States were influenced by these large corporations. The Gilded Age was given that name after Mark Twain referenced it in one of his works. In the post Civil War period, big businesses governed by corrupt acts and held power of both the political system and the economy.
In the words of Thomas Jefferson, “A wise and frugal Government, which shall restrain men from injuring one another, which shall leave them otherwise free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned. This is the sum of good government, and this is necessary to close the circlue of our felicities.” (Jefferson, 1801) This idea echoed far beyond it’s time and into the minds and hearts of the Populist’s, and became the center and the driving force of the Progressive era. During the gilded age railroads were being built, Industrialization was rising, the population of United States was increasing dramatically; and corporate businesses were becoming extremely powerful. The gilded age was known for its corruption and business domination, it wasn’t until the Populist movement when people started to fight back and also not until the Progressive movement when people started changing the government system.
Imperialism is a policy by which a country gains power over the world or other countries. It begun in 1865 and it caused US to expand. America had “Thirst for New Market”. The business in The United States was developing rapidly so it needed more supplies (trade) from other countries. The United States used different methods such as Jingoism/Racism, Economic Expansion and American superiority over Europe, but however, economic expansion contributed most for the US Imperialism. This meant more money and power compare to other countries.
The Gilded Age was a time in American history that came to be known as a major turning point for the country, as it marked the decline of an economy based on agriculture, and brought forth the rise of an economy based on business and industry. Following the Civil War and Reconstruction, it was a great time for change, especially for the economy. The economy improved, and at the same time, it granted more opportunities for inventors and businessmen to come out and share their talent with the the world. As America began to industrialize and make new advancements in technology, it also began to encourage the growth of the middle class and promoted the importance of social mobility and competition between businesses. The Gilded Age was a time when
Since the government used laissez-faire in the late 1800s for the big businesses to grow, corporations like Carnegie’s Standard Steel Company or Rockefeller’s Standard Oil Company could expand without limits.... ... middle of paper ... ... Lastly, the laws for the regulation of businesses were enforced until President Theodore Roosevelt had also contributed by suing companies that violated the Sherman Anti-Trust Act. The Gilded Age was known as the Second Industrial Revolution because there was change in the economy, politics, and society.
The exact period of time in which the Gilded Age occurred is ever-debatable, but most historians can at least agree that it started within the 20 years after the Civil War ended and lasted until the early 1920s. (West) The Gilded Age itself was characterized by the beginnings of corporations and corrupt political machines. Policies such as the General Incorporation Laws allowed business to grow larger more easily, and with less red tape involved. New technology allowed faster and more efficient production, but this explosive growth of industry called for not only more resources, but new business practices and leaders as well. (Moritz 10-12)
The Gilded Age gets its name from a book by Mark Twain called The Gilded Age: a Tale of Today. It was written in 1873, and unfortunately was not that successful. While the Gilded Age conjures up visions of ostentatious displays of wealth and decorative parties, the over all topic was politics. The book gives an extremely negative assessment of the state of American democracy at that time. Which does not come as a huge surprise coming from Twain, who famously said "It could probably be shown by facts and figures that there is no distinctly native American criminal class except Congress.” So when faced with sweeping changes in the American economy after the Civil War, the American political system both nationally and locally dealt with these problems in the best way possible, by inevitably and incredibly becoming corrupt.
Expansive growth was the moniker that expressly defined the Gilded Age. Industry in all sectors, witnessed massive growth leading to the creation of an American economy. Due to the rapidly changing nature of industrialization, important men of both the public and private sectors attempted to institute their own controls over it. However, this transforming landscape integrated both economic and political changes, but also cultural and social interactions. In turn, those who controlled the flow of business would also steadily impact the American social scene by extension.
From the period between the 1870’s through the 1890’s, it became an era known as the Gilded Age. The term was characterized by a famous American Literature author named Mark Twain. The writer tried to point out that the term means that while on the outside society may seem perfect and in order, underneath there is poverty, crime, corruption, and many other issues between American society’s rich and poor. This era’s gild is thicker than the cheaper material it’s covering. This can be shown through the countless numbers of achievements and advances America has made during the period of reconstruction and expansion, industrialization, and foreign affairs.
Transportation advances began a unification process across the country, both economically and culturally (Roark, 262). The United States finally started to take advantage of the natural resources of the land to benefit the economy. By having water powered equipment, the growth of factories mushroomed, but at the same time, caused a great issue with working conditions and the employment of women. Financing new ventures became an important facet during the market revolution. America’s money supply grew considerably, which led to increased investment opportunities.
Politicians during this time period worried more about ensuring their own financial success, securing votes by any means, granting jobs or favors in return for votes, and remaining popular. They were not concerned with social issues, but supported or crushed these issues in accordance with the decision that would benefit them personally. If politicians were judged to be good personally, they were automatically viewed as good politically. Changes were made for personal benefit, not the good of the community. Read political ideologies were not central to this time period. Use specific people mentioned in Chapter 19 to validate or invalidate this statement.
In the late 1800's, American society began to burst with cultural activity. After the Civil War and the Reconstruction, Americans were eager to return to their normal lifestyles. The period that followed, however, was quite different from what the country was used to. During the war, many pushed hard for a rise in industry, leading to an explosive industrial revolution far beyond what people had expected. America's business and economy had boomed, and, as the new century approached, many had a new outlook on life. They were eager to escape the dull regiments of both the past Victorian era and the new urban lifestyle. This was easy for the upper and middle classes, both of which were growing due to the rapid increase in industry. It was great news for entrepreneurs and business people of the time, because there was money to be made in this desire for amusement. Of course, this was not the whole story of the new Gilded Age, but it was definitely an era of growing leisure time and the business that came along with it.
Economic growth during the Gilded Age had a big impact on society from having corrupt politicians to the working class being renamed as the “other half” of the population. There was much growth during the Gilded Age that had re-invented the image of the working class. The politicians were corrupt and took bribes and the working class people were mostly immigrant families working long hours. The businessmen, who were upper class people, preached that success can be achieved through hard work.
After reading, multiple documents on topic such as “Populism” “Strikes” and “Chinese Exclusion Act“ it is lucid that the Gilded Age was an era where it could be said “ All that glitters is not gold.” The Gilded Age was an era in the late 19th century, also a time in which America’s farming society transitioned to an urban society, which then industrialized industries took over. “Autobiography of a Chinese Immigrant” by L. Chew and “Emma Goldman Autobiography” by Goldman all explain the idea and development behind the Gilded Age.Basically, during the Gilded Age, is when America began make changes economically and transitioned America into an “economic powerhouse.” The quote, “all that glitters is not gold” could easily be used to describe the
The Gilded Age was a time period of rampant development in the American Economy with a policy that minimized the intervention of the government in economic matters. In the late 1800’s starting with railroads, small businesses evolved to the point where the nation’s economy was monopolized by wealthy industrialists and financiers.1 With all this control in the hands of few wealthy individuals critics began to point out several inequalities among Americans.