Gilded Age Economy

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The 21st century is another Gilded Age because America has reached yet another peak of inequality. We are living in a world were we have to depend on every paycheck of our wages and any source of income in the middle and lower class. The gilded age had a lot of corruptions. The concerning part is that the economy has shown little growth over the decades meaning in between the end of the Civil War and the turn of the twentieth century, new technologies, cheap immigrant labor, maturing methods of industrialization, and a mechanized, streamlined transportation system of railroads and steam-powered ships proved a formula for astoundingly rapid growth in the business sector. The Gilded Age was one of the downfall year in America history, while …show more content…

Technology changes, such as the Bessemer converter in steelmaking; the telegraph, and telephones. Technologies enabling manufacturers to produce goods and services at in down-breaking scale, in the boom-and-bust cycle of the economy. The economic growth was quickly rapidly because railroads started been created for transportation, but the Credit Mobilier, the construction company that did the road building for the Union Pacific Railroad; were overcharging the public for construction costs, and siphoning off profits. Therefore the economy nearly doubled in size.
The captains of industry were: Andrew Carnegie of steel, John Rockefeller of standard oil, and J.P. Morgan, the banker who takes over many industries. They built monopolies to new businesses practices combined to fuel this economic growth affairs. However, their plan wasn’t always fair, but few regulating business conduct at that time. Immigrants would want violence involved within the three bosses; because, of survive in American industry. Unskilled workers didn’t share in economic gains, instead enduring great poverty. Finally, new form of business organization were devised to support economic

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