The Gilded Age

4082 WordsOct 8, 199917 Pages
A successful economy is perhaps the most key ingredient leading to a successful nation. An economy is a delicate balance of many different conflicting and coexisting elements. Naturally, an economy's success can often be measured by the amount of wealth is contains, not to mention the effectiveness or ineffectiveness of its distribution of the wealth. Effective distribution of wealth is no easy feat. Wealthy and poor people will always need to coexist- this is an inescapable truth. The government's job in many cases becomes that of a referee. Naturally, perfect peace and harmony between to totally different classes would be a utopia, and probably will never be completely achieved. A government must, therefore, regulate economy so that one…show more content…
In order to attain optimal circumstances for increased capitalism heads of corporations naturally needed to outdo each other. In many cases the price of lowering prices and speeding up production came in the form of pay cuts and layoffs. The individual needed to serve the means of the corporation. Simply because some workers had poor working conditions does not mean that the US economy was in the gutter. Statistics show that the American economy on the whole flourished during the Guilded and Industrial Age (91). "In the fifty years between the eight consensus and the twelfth consensus, taken in 1860 and 1910 respectively, the country's population soared from 31.5 million to 92.4 million, an increase of almost three times. During these same years the GNP, representing the dollar value of all the goods and services produced each year, leaped from about $7 billion to over $35 billion. This meant an average increase of in output from $150 to about $380 for every adult and child in the nation"(Burner411). These statistics point to economic gains of colossal proportions. Goods produced made up for job layoffs as the US economy became, like a machine, more industrialized each day. All of the key components were in place to have a thriving economy. Investment bankers also stepped in and became powerful. J.P. Morgan is a prime example of not only economic success, but also how the rich gave back to society. Although the rich of the

More about The Gilded Age

Open Document