Gilded Age Economy

Gilded age 1878-1889 was the age of fast growth of industry and immigrants in America history. The production of steel and iron rose radically than other time. In contrast, the Western resources increased such as silver,lumber, and gold. As well as the transportation also improved. Railroad develop and move goods from resources rich west to east.

The United States saw a major change in the economy and how goods were moved in the country between 1865 and 1945. The ending of the American Civil War allowed American innovators to begin work on new inventions that would change the American economy. The substantial change was the industrialization of America. Development of electricity and new techniques opened job opportunities in industries across America. The United States began to mass produce steel that was able to be used in the construction of major cities, use railroads to expand into the western part of the United States, and the standardization of money, roads, railroads, and laws surrounding quality of life.

The tremendous growth in the American economy between 1790 and 1860 was mainly due to market revolution which began after independence war. By 1850, the United States has become the fastest growing economy in the field of manufacturing, agricultural and mining. As a result of which, it became the global powerhouse of economy. Also, one change led to another thus promoting the overall development and change in the lifestyle of the people. Notable adjustments and improvements were evident in most of the regions.

For over a century, Great Britain had been the largest and most powerful country in the world. That is until the United States won the Civil War and began to grow its industries. After the Civil War, the United States was able to surpass the British in shipping goods and manufacturing them making them a global power and they were well on their way to becoming much more powerful than Great Britain. The United States continued to build new inventions like the steam engine, which is used for steamboats, and the railroads which helped people all over America travel much faster and were less expensive than any other form of transportation at the time. The United States was able to grow its economy with the help of the industrial revolution by offering more jobs to people, which made people migrate to the United States more, which made the United States more money.

Clyde Love February 7, 2023 US History 3 Ms. Gordon Herbert Spencer, the American Economy, and the Gilded Age The Gilded Age was a time where the American economy grew greatly and many new medicines and inventions were made available to far more people. When the age started, some people were able to profit greatly from industrialization. Many of them faced the question of what to do with the mass amount of wealth they had acquired. This was when philanthropy was first introduced.

The Gilded Age was one in which the rich became richer, and the poor became destitute. The middle and lower class were forced into dangerous, labor intensive jobs

The Gilded Age was an age of rapid economic growth. Railroads, factories, and mines were slowly popping up across the country, creating a variety of new opportunities for entrepreneurs and laborers alike. These new inventions and opportunities created “...an unprecedented accumulation of wealth” (GML, 601). But the transition of America from a small farming based nation to a powerful industrial one created a huge rift between social classes. Most people were either filthy rich or dirt poor, with workers being the latter.

During the Gilded Age, income and wealth inequality in the United States reached unprecedented levels. While characterized by rapid industrialization and economic growth, the wealth gap was enormous, with a small fraction of the population elite but many

Both of them break through the institutional barriers, and had a long-term economic growth. After the civil war, the northern industrial and commercial capitalists hold federal regime, the true sense of the unified national capitalist market development, encourage various industrial development and western development measures and the second revolution of science and technology combination. American economy realizes the rare history big economy on long-term growth in 1870 was 75.3% GDP in the UK. In 1913, USA catches up with the key period of England. The total American GDP increased 5.26 times, the British grew by only 2.24 times so America has become the undisputed world economic powers.

The Gilded Age lasted from 1870 to World War 1, “1900s.” The Gilded Age was a period of fast economic development, but also much social struggle. Mark Twain in the late nineteenth century founded the “Gilded” Age, which means covered with gold on the outside, but not really golden on the inside, for example, tin. This period of time was glittering on the surface but corrupt underneath. In other words, the outside looked beautiful, but the inside looked old and trashy.

The Gilded Age was to describe America in the late nineteenth century. The outside of the US seemed glamorous and splendid alongside industrial development and massive economic growth. However, the dark sides were hidden beneath it. In my perspective, I believe we are living in the 2nd Gilded age.

The Gilded age was a period in the late 1800s (1865-1900) that showed tremendous increase of wealth caused by the industrial age. The lifestyle of the rich during this period hid the many problems of the time that eventually brought about the progressive era movement. This was a movement for reform between 1900-1920s. Progressives typically held that the irresponsible actions of the rich were corrupting both public and private life. Forces such as immigration, the Populist Party and industrialization that led to the progressive era also impacted the American government both in its activeness and its democracy.

In a study conducted in 2013 by The Economic Policy Institute, a financial think-tank devoted to analysing the ebbs and flows of the national economy, it was documented that while the average Massachusetts one-percenter grossed an annual household income of $1,692,079, the average ninety-nine percenter grossed a household income of only $56,115 which leaves us with a vast wealth gap of $1,639,964. It also states that the cumulative one-percent takes home nearly a quarter of all the income in the state. This is a perfect example of what it means to be gilded because although Massachusetts prides itself on its economic success, it’s evident that while the ninety-nine percent are becoming poorer, the one-percent are getting richer. This type of income inequality has existed in America for a very long span of time and was one of the main reasons that the first “Gilded Age” was considered “gilded” in the first place, according to the PBS.org’s “Andrew Carnegie: Rags to Riches timeline” Andrew Carnegie, one of the poster boys of the “golden” aspects of the “gilded age” due to his rise from immense poverty to extraordinary wealth, grossed in a grand total of nearly $25,000,000 in 1890 while the average public school teacher earned $256. This just further proves that we’re living in modern gilded age because although we 've improved the state of income inequality since the first gilded age, it’s still a big problem that affects us on a global

Wealth, poverty, technology, decadence, the Gilded Age was a time of change and uprooting of past systems, schools of thought, and standards. It was a time of both hope and doubt for the majority of the population and brought many to be empty handed or exceedingly wealthy. The dynamic between rich and poor was shifting to a gap of wealth never before seen in the young country. The gilded age’s built up wealth disparity faded away over time. Yet today it seems that a resurgence of these features is rearing its ugly head again.

The decade between 1890 and 1900 expressed a crucial time in the United States of America’s history. Many people experienced struggles throughout this time while others prospered. Mark Twain suggested that despite the significant achievements of the United States, Americans experienced poverty. This statement is an accurate description of the lively hood people experienced in their daily lives during the Gilded Age whether it was positive or negative. Many people during this time period focused on the positive outcomes that resulted from the Gilded Age such as new inventions, the gospel of wealth, additions of land to the country, urbanization, and middle-class improvements.