Scholars Being Justified in Using the Term Golden Age to Describe the Economic History of Western Europe During 1950-1973 ‘Nothing in the history of Western Europe resembles its experience between 1945 and 1968.’ Milward, European rescue, pg. 21 In the quarter of a century that followed the Second World War, the achievements of the European economy were so impressive that the period was often referred to as the ‘Golden Age’. Since 1913 Europe had experienced two world wars plus the great depression and trade wars of the 1930’s, the economy had been stunted and growth was well below trend. In the early post-war years between 1945 and 1947 recovery was frustrated by shortages of food, labour, raw …show more content…
The rising level of employment and productivty, by generating income and demand, was constantly renewing the need for more capacity and higher investment, and so in turn maintaining the pressure on resources. But was this process one that could go on indefinitely? Was it not to be expected that economic growth would slow down once needs of post war reconstruction where over? Many economists undoubtedly did expect growth to slow down up until the middle of the 1960s, but changed their mind when rapid growth continued or even accelerated. The end of the ‘Golden Age’ never the less came suddenly in 1974-1975 after the first oil shock. In this sense the breaking point was brought about in 1973, not just by the quadrupling of the price in oil but also by the world economic boom which preceded it and drove prices up in all industrial countries across the world. The question economists wanted to know was no more, how long? But rather, why? Ever since it became clear the forecasting of the post war economy, based on previous trends, did not reflect the reality presented by the ‘Golden Age’, economists started their search for reasons why? Work by such writers as Maddison gave an explanation of the ‘Golden Age’ through an approach known as “growth accounting”. Observing a huge increase in the ratio of investment to GDP and incorporating technical progress,
During the 14th to 17th century, a new golden age emerged. This age was characterized the Renaissance. Led by northern Italian cities, the Renaissance was fundamentally by economic growth, as Europeans sought to achieve higher standards of intellect. The Renaissance marked the beginning of Modern history. It subsequently revived their socio cultural achievements, developing ideas of individualism, humanism, and secularism for a distinct period in modern European history.
The Gilded Age is a time period in American history between 1870-1900. During this time period there was a boom in the United States economy and population. Unfortunately, during this time period there was a lot of financial corruption and inequality which caused the rich to become very wealthy. Interestingly enough there were a variety of distinguished authors, from William Graham Sumner, Henry Demarest Lloyd, Andrew Carnegie, and Henry George knew economic inequality was a major problem and something needed to be done.
The Gilded Age was a time where new prosperities and opportunities were forming after the end of the bloody American Civil War. The United States was able to rebuild itself after philanthropists started to help change the country into something superior and steered it away from the dreariness of the last few years. The ultra wealthy entrepreneurs of the time primarily were John D. Rockefeller, Andrew Carnegie, and J. Pierpont Morgan. These men were given the name “captain of industries” coined by Thomas Carlyle in his book, Past and Present, to describe compassionate and important men who made significant impacts on the nation and people of America. The wealthy industrialists of the late 19th century were “captain of industries” because they created new enterprises, they provided jobs for countless citizens, and donated to charitable causes.
The Gilded Age is defined as the time between the Civil War and World War I, during which the United States population grew quickly and the economy prospered greatly. However, it is also known to be cluttered with political corruption and corporate financial misleadings, in which the rich grew very wealthy and the poor were basically peasants. The economic growth of the nation was highly influenced by the availability of land and technological innovations promised through multiple acts passed throughout the time period, and, as a result, there were many negative changes in the social standing of minorities.
The American Society could currently be in what is considered a Golden Age with all of the advancements that are being made daily. America is the number one leader in advancements in the modern day. America has been making useful advancements since around the 40s, but in the past decade, americans have been creating so many different things that help out our society, many other countries have been struggling to keep up. America has made many educational, artistic, economic, political, medical, social, humanitarian, and technological advancements in the past decade.
The Gilded Age was a time in American history, from the 1870s to the 1890s, which ostensibly characterized the country based on its economic and technological advancements. However this era’s development served as a mere facade for the corruption and classism which occurred during the time. From economic manipulation to immorality in politics, the Gilded Age is best characterized by the unscrupulous nature of individuals who sought to attain superficial success.
Spain’s perceived “Golden Age” is a broad classification unconfined to a specific era. The Golden Age has long been affiliated with the growth of a uniquely Spanish identity that arose with the flourishing of arts, architecture and literature expanding notably in the years of Phillip II, and flourishing in the 17th century – the same century traditionalist historians identify as the decline of Spain. To consider the golden age of Spain on a purely art and literature basis however misses the point, the Golden Age in all contexts appeared from the development of the Spanish Empire. On the European stage Spain appeared at the height of its “Golden Age” during the reign of Phillip II, Spain was the centre piece of the world’s greatest power
The term Dark Ages relatively defines as when a civilization faces starvation, war, disease, internal struggles, less innovative people, and unvalued education. This term was coined by a famous Petrarch-Italian scholar named Thomas Aquinas,when he compared the dark age to the classical period which was in a Golden age. The term Golden age occurs when a civilization has new inventions, efficiency, education, high literacy, a big population, good health, impressive architecture, peace, surplus of food, and enforced laws. The time period of Medieval Europe was 500 AD-1500 AD with the events of the black death epidemic, the crusades, harsh government, and a small amount of people going to school to get an education. The lapsed events clearly
Teniola Olafuyi The Gilded and Progressive eras are two historical eras constantly debated overtime. Historians argue that the Gilded and Progressive era should be categorized as a “Long Progressive Era”. Both eras has a long period of reform in social and political problems caused by industrialization. However, historians argue that there is less regulation of the government in the Gilded Age because the rise of monopolies and less rights for workers.
Coined by Mark Twain, the term “Gilded Age” refers to the time period from the 1870’s to about the 1900’s in the United States. Gilded Age represents “fools gold”, which is deceitful in that it looks like real gold from the outside but is actually cheap material on the inside. This represents America because during the time, it was thriving due to industrialization however, was crumbling with corruption and scandal underneath.
In American history during the period from 1865 to 1900 United state became the leading industrial nation in the world. This period is referred as ‘The Gilded age’ in American history. This term was coined by writer Mark Twain in the novel of ‘The Gilded age: Tale of today’ in 1873. The Gilded age satirized an era of serious problem masked by a thin gold gilding.
Throughout the history of the United States, the Gilded Age is regarded as a period that spanned the last three decades of the 19th century. This period starts from the Civil War came to an end in the 1865 up to 1900. The term Gilded Age was formulated by writers Charles Warner and Mark Twain in The Gilded Age: A Tale of Toady in 1873. They did this since they believed it to be an era that would be characterized by a variety of severe social problems that were camouflaged by a minute gold gilding.
This theory was meant to bring America back into the golden area of the 50’s. Reagan believed that with less taxes the middle class would be motivated to work harder because they would be getting paid more money. In addition this surplus in currency would allow the middle class to live life similar to the golden era re-investing it back in the economy boosting growth.
When a civilization goes through a golden age, they are remembered for their marvelous achievements and extravagance. A golden age occurs when a society goes through a time of peace and harmony. Along with this, the society experiences economic prosperity, political stability, and a series of cultural achievements. The Byzantine Empire, which lasted from 330 A.D. to the mid 1400s, is an excellent example of a golden age. The Byzantine Empire became wealthy by being an economic center of the world, connecting Asia and Europe. Under Emperor Justinian, the capital of Constantinople became a center of wealth, which helped usher in a golden age. The Byzantine Empire was a golden age because it had many architectural achievements as well as political achievements that have had lasting impacts on today’s societies.
Both books look at the Gilded Age in different perspectives as to how it affected the USA. A People's History of the United States talks about how the people rebelled for their rights as working citizens, showing a in-depth view in how the American people lived during this time. A Patriot’s History of the United States takes a broad approach, just stating the facts and telling from a political view in what was happening in the government. Even though both books talk from different perspectives, these authors hit some touchy details that they share similar or different views on. In this case, A Patriot’s History of the United States does a better job at dealing with these topics because even though broad, the author shows the logic behind the decisions made. Even though these two novels have different perspectives of what was going on during the Gilded Age, they both talk about the effectiveness of the unions, the conditions in which the workers were in, and the struggles of the daily people trying to survive.