The Impact Of Big Business In The Gilded Age

After the Civil war, large businesses ruled America. Prior to the industrial revolution, the government upheld a hands-off approach towards business. Under the laissez-faire principle, free, unregulated markets led to competition, yet this system suffered under the wrath of growing corporations. The impact of big business on the economy and politics was immense during 1870 to 1899. Corporations were growing significantly in number and size, which had a domineering affect on American economy and defined American life.

Greed can be a powerful motivating force, evident through the positive impact it had on Industrialization in America during the Gilded Age. During this time new inventions became plentiful, but where there were new inventions there also had to be new businesses to back these inventions up and allow them to be successful. Wealthy business owners were able to help in this regard. They already had the capacity to help facilitate the creation of these new inventions, but it did not stop there. This is where greed came in. Greed is the intense and selfish desire for wealth, and it was this that empowered the rich during this time to expand upon their already successful businesses to become even more rich and powerful than they were before. This led to a surge of businesses in the country, and it was all due to greed. It was this desire for more that led to an increase in productivity in the country that helped with the spread of technology throughout it which made it more enticing for immigrants coming to America.

The late 19th century and early 20th century, dubbed the Gilded Age by writer Mark Twain, was a time of great growth and change in every aspect of the United States, and even more so for big business. It was this age that gave birth to many of the important modern business practices we take for granted today, and those in charge of business at the time were considered revolutionaries, whether it was for the good of the people or the good of themselves.

The Gilded Age is an intricate novel written by Mark Twain and Charles Dudley Warner. The story takes place in the United States circa 1800’s. It moves throughout the U.S focusing on certain characters where the theme is displayed until all of the stories blend together to make a bigger picture.

The Gilded age was the period in U.S. history where politics had caused a halt in social advancement. The Robber Barons had become so rich and powerful that the country had plunged into an era of corruption. As illustrated in Joseph Keppler’s , “The Bosses of the Senate,” the monopolies of the rich had garnered immense influence in the government, effectively removing the people

America’s industrial growth during the period from 1870 to 1900 was greatly impacted by growth of large corporations that affected the economics and politics of our nation. As corporations began to grow, so did their power and influence. Their numbers grew to be so significant that they were known to be one of the major forces within the United States, with both a great amount of power and the ability to control much within the United States. Their power and influence expanded and impacted the economic and political aspects of our nation. These corporations dominated American business and defined the American culture. The Gilded Age, a term coined by Mark

As the age of Reconstruction ended, the Gilded Age of big businesses began in the United States and with it came new jobs and goods for Americans. When new corporations became more successful, it made an immense impact on the economy, the political system and the lives of citizens. Economically, the cost of food and living went down significantly as well as a surplus of jobs. Political leaders were corrupted by big business as their decisions and laws were influenced by the wealthy class’ bribes and stealing from the common man. Though mass production allowed goods to be made quicker and in greater quantity, the workers’ horrible working conditions and remarkably long hours caused the creation of unions and strikes. Despite the great effect big business had on the economy in the Gilded Age through the decline in the cost of food and fuel, the daily lives of average working-class citizens were negatively impacted by long hours, horrid working conditions leading to unions and a corrupted political system.

The end of the Civil War marked a new integration of industry into American society. Following the war, high tariffs were put in place to compensate for the national debt that were created. The increase in tariffs also promoted domestic industries which became more critical in America. A major shift can be seen during this time, known as the Gilded Age, toward a more industrialized society rather than an agricultural one. One major influence toward this industrialized society was the building of the transcontinental railroad which ran from East to West coast. Finished in 1869, the Railroad allowed for more transport which also benefited the rising of big businesses. Regional companies could become national companies and thus changed the way people looked at industrialization. This industrialization affected the working class the most which consisted of the industrial workers and farmers. One would think that the “Gilded Age” would mean prosperity would be felt throughout the economy but the elite 1% of the population had more money than the rest of the population combined. This did not sit well with the working class, especially the industrial workers, who were the ones making the profit for the elites. However, each the farmers and industrial workers had their own way in which they responded to the industrialization of the Gilded Age.

The Gilded Age, was the time period, following that of Reconstruction, marking the rise of big business, capitalist expansion, and further industrialization. As a result of the policy laissez-faire implemented by the government toward business and the economy itself , growth of corporation was more prominent than ever before. Given truth to its name the Gilded Age, seemed to be a time of societal and economic enrichment, but the truth was that under the surface political, social and economic issues boiled. Consisting of political corruption, shady business and tight political races the Gilded Age was a time of quiet havoc. The growth of corporation in all ways led big business to impact the economy, politics and receive various responses from

The Gilded Age was a very special time for our nation that took place from the 1870s to around 1900. During this time, economic growth was at a rapid increase, politics were corrupted yet had high turnouts, and urbanization flourished. Every aspect of the life of an American changed drastically throughout this time of the Gilded Age. The entire era was focused on the enormous changes that each aspect of America was going through. As this is brought to attention, if we are to look into the way that America is in our time of today, we can find that there are many similarities to that of the original Gilded Age. The United States of America have currently found themselves to be experiencing the second era of the Gilded Age throughout the areas of economic, politic and social transformation.

During the Gilded Age America experienced the “Second Industrial Revolution”. Between the end of the Civil War and the early twentieth century, the United States underwent one of the most rapid and profound economic revolutions any country has ever experienced. There were numerous causes for this explosive economic growth. The country enjoyed abundant natural resources, a growing supply of labor, an expanding market for manufactured goods, and the availability of capital for investment. The uprising of big businesses, railroads, and factory transformed America from being based on small farm work into an industrial powerhouse. During the Second Industrial Revolution the role of “big business” in federal and state governments was a monumental turning point in the history of this country, setting a foundation which has come to play a big role in government policy today. In a time period where the American Government did not have a real system in place for becoming an elected official, a great portion of the government was “corrupted” by people put in place by owners of big businesses and in turn they agreed to pass laws or do other favors for their benefit. Moguls such as John D. Rockefeller, and Andrew Carnegie played major roles big business. The rapid expansion of factory production, mining, and railroad construction in all parts of the country except the South signaled the transition from Lincoln’s America—a world centered on the small farm and artisan workshop—to a

One factor during the Gilded Age that changed American business and labor practices was the abundance of supplies. The United States had all the raw materials it could ever ask for like: coal, oil, iron ore, copper, lead, and timber. Why was this important to the U.S? This kept the U.S. from having to purchase these things from foreign countries. The United States also had an abundance of labor supply between 1865 and 1900. This gave U.S. factories a steady supply of cheap labor, there was always more workers

We are living on the verge of the second part of the Gilded Age right now. The Gilded age is considered years 1870-1890. While the 21st century, today, is reliving the late 19th century. This age consisted of people seeking a new beginning and moving to the United States because they believed that America was the place to be for a new and better beginning. Many people would reference America's streets were "paved with gold,” little did they know the road they would have to travel to actually believe such a thing to be true. The United States has faced many different changes some for the greater good and some for the worse. The 21st century is repeating the Gilded age not only socially, but also culturally, economically, and politically.

The first recession in American history triggered by the effects of capitalism, was The Panic of 1873. This crash was caused by some of the same reasons why our market continues to fail to this day. Issues such as the formation of financial bubbles, an imbalance in the regulation of currency and low interest rates all contribute to market failures such as these. In 1873, there was a severe problem with the control that the government had over money. Many people, including Jay Cooke and his investment firm, continued investing their money in railroad construction, gold, silver, stocks, and bonds, with the intention of the return being higher than the risk. Because of this, many factories and businesses had to shut down and unemployment skyrocketed.

Inflicted by rich, corporate owners, the Gilded Age was marred by extreme abuse experienced by workers. Before laws were passed to ensure safety in the workplace, people were exploited and lacked what we now believe are basic human rights. In the Free Enterprise System, the wealthy, essentially, run the government because of how much money they make. These people, such as Andrew Carnegie and William M. “Boss” Tweed, determined how much money their workers would be paid and what horrid working conditions they would be placed under. The people had no way of protesting, and if they did, they would be replaced and out of a job. Dangers in factories and other places of work in those times resulted in over 25,000 deaths per year, at the time. Furthermore, employers were rarely held responsible in these situations (courts were not sympathetic towards laborers), allowing them to continue putting people at risk.