Effects Of The Gilded Age On The Economy

After the end of the era of reconstruction following the civil war, the gilded age began. The gilded age was characterized by it’s rapid economic growth, however it was also defined by the political corruption and social inequallity that arrose from that growth. As companies grew at an unpresedented rate, they took a central role in shaping the political landscape and economy during the gilded age. The growth of big businesses during the gilded age changed the economy to be more focussed on industry even at the expense of the working class, contributed to most of the corruption in the government, and led to many inluential protests and movements well into the progressive era.
The gilded age saw the growing prominence of big business in American

Some skilled fields of work commanded high wages and high control over their working conditions. Jobs that required technical skill and knowledge held a level of autonomy in their work; it was dubbed the miner’s freedom. Those with the miner’s freedom held an almost managerial position over themselves, giving them power over what they do in their jobs. On the other side of the coin, the growing unskilled labor force was not given such freedoms over their work lives. They were subjected to longer workdays and lower pay in working conditions that were often fatally dangerous. During the period of the gilded age, the U.S led the industial world in workplace deaths by a large margin due to poor sanitation, and low factory safety.Another result of this shift in the economy towards being centered around big businesses was the growing wealth gap; the rich got exponentially richer and the poor became more destitute than ever. Those who worked for these

The reason for companies wanting to dip their toes into the waters of politics was that if they could control the ability to write and pass new laws, they would be able to expand their capital and grow their business through new laws and legislature. One example of the overwhelming governmental power that a corporation can hold is that of the “third house” of the Pennsylvannian government, which was comprised of railroad representatives in Pennsylvania. It was said that these non-elected railroad heads commanded just as much power as the genuinely elected officials. Another way that companies would gain power in the political sector was by holding their own elections that they had rigged in their own favor. Another form of corruption in the government at this time was not actually orchestrated by companies from the outside, but perpetrated by law makers on the inside. Law makers would pass laws that would personally benefit them and the companies that they held stock in or had a personal connection