Rose Hernandez Professor Flowers History 106 25 September 2016 The Economy of the Gilded Age Mark Twain named the time period of social corruption disguised in gold in the United States as the “Gilded Age.” During this time period, immigration was high in the North and West, increasing the numbers of those who lived in the United States. Many of those who immigrated started businesses of their own and some of their companies came out on top. As more people lived in the United States, more people worked, which helped boost the economy. There was abundance of jobs, from working in factories, farms, and railroads. But unfortunately, those who worked during the Gilded Age were mainly lower class workers who rarely got paid, were over worked, and …show more content…
There was an idea that if one worked hard enough, one can go far and earn respect for what he made. With this idea, many immigrants started businesses with hopes to bring capital in. There were some who became farmers and worked with the railroads to transport and sell their goods, factories manufactured various goods from textiles to steel, and the railroads worked with different businesses to bring their products to different parts of the United States for a fair price. The railroads were the main root to the success to business that operated in the States. These kinds of businesses had many employees who worked day and night to produce what they can. Some of those who worked hard found success, such as Andrew Carnegie and John D. Rockefeller. Carnegie was an immigrant who worked at a textile factory and worked hard to build a company that produced steel. Rockefeller worked as a clerk and made his way on top by owning the oil industry. Both men worked lower class jobs and ended up being well renowned for the amount of work they had to do to come out on top. “Especially in a new country where many tasks are waiting, where resources are strained to the utmost all the time, the judgment, courage, and perseverance required to organize new enterprises(sic) and carry them to success are sometimes heroic” …show more content…
As seen in the 1882 political cartoon, an Octopus with the words “Corporate Greed. All for Ourselves. Nothing for the Public,” while hoarding crates underneath it with names of railroads depicts what railroads were doing to businesses. Railroads were setting high rates and over charging that made it hard for entrepreneurs to make money. The cartoon also depicted the mind sets rich business men had. Wealthy businessmen believed their wealth shouldn’t be shared with their workers, but believed in over working their employers, which lead to high labor and poor mistreatment. Carnegie made sure his factories were functioning 24/7. Rockefeller treated his workers the same as Carnegie. “… He bitterly fought his employees’ efforts to organize unions” (Foner). Many lower class laborers were rarely to barely paid, worked in unsafe conditions, had no health care, and rarely got leisure time. The mistreatment of the employees led to fighting for eight-hour shifts, days off, and health care. All this economical corruption led to unions being formed, strikes, and labor laws later into the
From 1875-1900, America was beginning to rise up from the increase in industrialization. However, dubbed “the gilded age” by Mark Twain, the thriving promise of a better , wealthier life in America was not as it seemed. When labor unions rose to change the harsh working conditions placed on workers, it seemed to be that they found little to no success. This was brought on by the little change that they made, the suffering and hardships they brought on themselves and others, and the little support they received from those around them. Although labor unions were able to change some conditions, most of those changes were minimal.
One of industrialists main focus was maximizing profit, so consequently, industrialists put a workers’ welfare disregard. For example, Andrew Carnegie neglected
During the latter half of the nineteenth century, the American Industrial Revolution sprung up. The steel industry began America’s climb to a global leader in industry. More people were drawn to the booming economy rather than to politics. The American industrial revolution was in full gear, and most men had a hunger for wealth rather than for Congress or presidency. During this time, the railroad became a massive industry, not just for transportation, but also for production building of the railroads.
Morgan, Rockefeller, and Carnegie all had their times when they acted like robber barons but the things they did as Captains of Industry over power what they did wrong which shows they did more good than bad. For example Carnegie donated more than $350 million to further public education, and build over 2,500 libraries. He did have times when he had his workers work long hours with little pay but his good, overpowered his bad. Another example was made by Rockefeller, in 1913, The Rockefeller Foundation was officially established and Rockefeller transferred $235,000,000 to it by 1929. He donated his money and proved he was a captain of industry.
When business owners didn’t appreciate what the government was doing, they retaliated by creating political machines. Political machines were groups of Big Business owners that would come together in attempt to overthrow the
The Gilded Age served as a critical role in shaping the American economy throughout the 18th and 19th centuries. Cities became flooded with immigrants and workers which created a pool of cheap labor. Railroads expanded, connecting the nation’s major cities and generating a nationwide marketplace. During this time, much of the rapid growth that occurred was led by inventions that were created. There was also a few who used this change to their advantage and created business empires.
There had to be a way to keep the industry growing, with the needs for education, as well as materials for farming and for the use of new inventions in technology. The captains of industry were very capable in providing for these needs. In Document C, Wealth, Andrew Carnegie describes what the man of wealth was responsible for: “To produce the most beneficial results for the community- Bringing to their service his superior wisdom, experience, and ability to administer, doing for them better than they would or could do for themselves.” The conditions of the lower class at the time gave these men a leading role for priorities, which they were successful with.
The Gilded Age really means that the U.S. was covered with gold, or otherwise as known as wealth. Many people were really, really rich. They had tons of money with them, but the problem is that people seem to look nice and wealthy to other people, but they are more or less corrupted. One of wealthy people’s corruption is selfishness. If one gets too wealthy, all they would think about is money.
A well-known writer, Mark Twain, used the term “Gilded Age” to symbolize the corruption of the American society despite its glittering surface of wealth following the American Civil War. Many industrial leaders following the war were criticized as “Robber Barons” -- the idea of becoming rich through unethical business practices -- or “industrial statesmen” for their economic influence in America. Their tactics of becoming wealthy and prosperous were often criticized as dictating the rich and the poor and destroying competitions, but the philanthropic contributions of these “industrial statesmen” toward the American economy and society are tremendous in creating America as a domination of power. According to many people, these “industrial
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.
Barons such as Andrew Carnegie, J.P Morgan, and John Rockefeller dominated the country through the enormous wealth that they amassed. The power that these individuals wielded was unfathomable. They even bought the presidency. It was through their combined might that William McKinley was elected. This pushed their power and wealth to even greater heights.
Following the first transcontinental railroad in 1869, the United States had an era of economic development in which the country rapidly transformed into an industrial nation by 1900. This era is referred to as the Gilded Age and during this time America had a significant increase in immigration, urbanization and most significantly industrialization and segregation. With this shift to industrialization, the country was in desperate need for vast numbers of workers to build and maintain these new industrial businesses, such as the newly formed transcontinental railroad, who could be paid a very low wage. Professional historians, James Henretta and David Brody, explain that women, immigrants and mainly children were used in these factories since they were willing to work and could be paid less (Henretta, Brody 505,506). As this economic boom progressed and the country had created an effective business model, the devastating conditions grew worse.
John D. Rockefeller and Andrew Carnegie were abundantly similar when it came to traits that made them sucessful in business endeavors. They both rose from extreme povery and disadvantage as children. Limitations did not exist when it came to their inner core of ruthlessness exhibited at times against their competitors and even their employees. They took complete control of every detail of their business and ran it with a prerogative to control a large part of the American economy.
Andrew Carnegie Andrew Carnegie’s was one of the most successful businessmen during America’s Age of Industrialization in the 1880’s. After the Civil War, he saw a future in having a career in the iron industry, and later on, decided to invest in the steel industry (PBS). Though Carnegie is most known for his contribution in the steel industry, he took part in a few other businesses as well. However, the Gilded Age is an era full of poverty and corruption hidden underneath the prosperous, wealthy nation, and the working conditions within Carnegie Steel Company were not much better than those in other factories (Resetar).
Robber barons, specifically Andrew Carnegie, an industrialist and John D. Rockefeller, a philanthropist, were the chosen, elite members of society according to the doctrine of Social Darwinism. Darwinism is when evolution occurs and the strongest organisms of an ecosystem survive and reproduce to outnumber the weaker, less fit organisms of an ecosystem. Similarly Social Darwinism follows the same concept, but in a capitalist sense of thought. Those who were able to exploit the Gilded Age’s laissez faire economy to their own benefit, like the robber barons Andrew Carnegie of Carnegie Steel and J. D. Rockefeller of Standard Oil, were the fittest members of society because they were able to survive in the grueling and ruthless free economy. By usurping all of the fresh yet unfit immigrants that were flowing into the States due to the rise of urbanization, these two men integrated these easily-manipulated people into their factories to augment their profits.