The Gilded Age : Unregulated Capitalism During The 19th Century

The gilded age was an age of industrial revolution. With inventions of machines and the major social problems, it was an era of great change for the United States.

In the 19th century, the Gilded age was this period of time when America looked like this massive productive country. What people do not know was that in the inside they were this suffering country that had massive poverty and thousands of people without jobs. America was filled with industrialists which are also called Robber Barons. Robber Barons were these people who basically stole fortunes by having their employees work 12 hour days, 7 days a week and getting paid about 15 cents an hour. Andrew Carnegie was a really wealthy businessman who made steel. Carnegie made millions of dollars but in the end he still paid his workers very little. His employees worked long hard days and at the end of the day they got paid hardly nothing. These workers also worked in bad conditions and some of the workers were kids and they were having them do some of the really hard dangerous work. According to a US history author “They received no health benefits, no vacation, and suffered from periodic layoffs because of downturns in the business cycle( The Gilded age pg. 1) The 19th century during the Gilded age most of the big business men where these guys who had massive amounts of money and yet they pay their workers really low wages with bad conditions.

In the Gilded Age, big business controlled most aspects of everyday life. As the United States was amid a time of economic growth, big business was growing as well-- contributing to that economic growth, all the while, gaining control and dominance across the nation. With such an influencing power, big business cared less to think about anyone else other than themselves. Due to this corrupt possession of power big business possessed, legislation was passed in their favor with the government wrapped around their fingers. The economy, politics and the lives of most Americans were affected negatively when big business reigned supreme.

During the ‘Gilded Age’, businesses and industries bloomed in order to create profit and enable people to gain

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.

During the nineteenth century, there was a time of critical social problems we now know

From 1870 to 1900 era was called the Gilded Age, a time of immense growth in the United States in transportation, especially in railroads, American workers were paid higher wages than their peers in Europe. In this thirty year span the United States saw twelve million immigrants pass through her golden doors, 70% of these immigrants were English, Irish, and German. Crop failures (potato famine in Ireland), job shortages, and religious freedom were the motivations behind many immigrating to America. Newly arrived immigrants faced a harsh reality in America, employers took advantage of them, the men were often paid less than other native born men and the women were paid even less. Immigrants suffered verbal and physical abuse from employers and other employees because they were different. While researching my Italian heritage I learned that Italians, especially southern Italians were not treated well because they were hired as strikebreakers or scabs by mining and railroading companies. They were called derogatory names such as "dagoes or guineas". Newspapers of the time said the southern Italians were "intellectually inferior and having criminal tendencies" (Laura Teddy Turner, Demand Media n.d.) http://www.emmigration.info/us-immigration-tv

Greed during the Gilded Age was not good, but was still very evident in strikes and lockouts, politics, and monopolies. Greed is an intense and selfish desire to be better and have more than others and it can often cause people to get hurt and be put into dangerous situations. During the gilded age, economy was expanding and most people were motivated by wealth and their own greed. While greed may be good for the greedy, it is not good for those who are in the way of the greedy and those who just simply are not greedy.

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.

The market mechanism of the Gilded Age was laissez-faire capitalism, an economic system based solely on the law of supply and demand, driven single-handedly by the motivation of entrepreneurs to generate profit, regulated purely by the ruthless competition between companies and owners. Such an economic environment inevitably resulted in monopoly and encouraged illegal business practices to get ahead due to the lack of government intervention. In this free-market capitalism, large companies were able to lobby the government and hurt, or even prevent other businesses from kickstarting and competing, by controlling the nation’s political outcomes through financing its politicians. These robber barons running these billion-dollar companies extracted the maximum profits from labor by bitterly preventing their employees from organizing unions. Ultimately left with a monopoly, these companies were able to deceive their consumers about their products and were to set skyrocket prices without any competition for customers to turn to for cheaper alternatives.

Greed is what drives everything in society, whether that be thousands of years ago or today. The reason we have advancements in our world is greed. People want to live forever, have a legacy that lives forever, or they want to have the most money. People have a natural desire to have the most stuff, whether that be money or physical good, and they will go to the ends of the earth to get it. And because this is human nature, unfortunately, it isn’t stopping anytime soon.

The article by Thomas Cassidy, points out the instrumental role that greed plays in the modern corporation. Modern Economists have always seen greed as not only a necessary element in the corporate environment, but as also a vital part of the successful evolution of a public company. As the article points out, “Economists from Adam Smith to Milton Friedman have seen greed as an inevitable and, in some ways, desirable feature of capitalism. In a well regulated and well balanced economy, greed helps to keep the system expanding”.

Greed never gets you anywhere in life. You need to be grateful for what you have. Well, the story The “Goose that Laid the Golden Eggs” by Nicky grischotti and “The Eagle and the Jackdaw,” by Sue Reid have the same theme of greed. Both stories show what greed is. Greed will get you nowhere in life if all you want is more.

Greed refers to the intense desire for something, particularly wealth and power. The desire for materialism has acted as a catalyst for greed to become prevalent in society, especially in the United States of America. The presence of greed in the upper-class dates back to as early as the 1820’s when wealthy oil businessmen exploited sailors into working in extremely dangerous conditions for their own self interest (Philbrick). The greed present in the wealthiest families in the nation has established a detrimental division between the wealthy and the poor. The gap is only growing further and further apart, as greed constructs the desire for the rich to become richer resulting in the poor becoming poorer (JBW). As of right now, the United States has the worst income equality out of all the developed countries in the world (Gongloff).

I believe greed is something we all enjoy having like wealth, power, or food and not sharing any of that with others. “We are born brave, trusting, and greedy, and most of us remain greedy.” For some who do not know, greed is known to be one of the seven deadly sins in the book of the bible. As the quote says “most of us remain greedy” which i can believe because having greed can make you an awful person and change your character. Being greedy can cause people to not want to be around you and lost of