Gilded Age In The Late 19th Century

In the late 19th century, Mark Twain coined the name “Gilded Age”, meaning the period in which this era was taking place was a point in time where greed, cunning intelligence, speculators, scandalous politics, and shady business would arrive in the United States causing an era of corruption. This was the duration where the United States government was referred to as the “Third Party System” where the 19th century saw the advent of economy, mass immigration, and class division all within the seams of the country. A modern American economy arose along with big businesses that were controlled by a small number of giant corporations. Carnegie believed that there should be no restrictions on how a man makes his money or how much he makes,

There was an unpredicted rise in new industrial and agricultural technology that would increase productivity. In the factory, the invention of the Bessemer blast furnace and

Siemens-Martin open hearth process would decrease the amount of hard labor and transform the way steel was made. While in America’s offices’s, business communication would be revolutionized with typewriters, following the use of calculators. As a result of the growing industries came an influx of new cities being developed. This expanding infrastructure started sewing back a growing number of laborers and new goods to increase supply of capital.

Individual saving increased, giving importance to commercial banks, insurance companies, etc.

New forms of business were planned to boosted economic growth, and while occasionally faced with over production, capitalists experimented with new forms of organization thus forming pools that would hold over capacities. Resulting, the adoption of a “gentleman’s agreement” which was to give informal partners an opportunity to even out the market. The unprecedented economic growth of the Gilded Age can be accredit to fundamental ingredients for a

The idea that the families of the deceased wanting to keep the earnings within themselves was such a selfish act. The rich who were in favor of the idea of their wealth staying within themselves were though of as self indulging people who lived selfish lives.

This would take efforts from the government to ensure that the money taken would be solely used to better peoples lives and not abused. Taking into consideration that it is the rich that control a large portion of the big businesses, that maybe it wouldn't be in Carnegie’s best interest to sway the wealthy community to a side that they did not agree with. To put into perspective what it might have been like to have a modern day example of Carnegie’s Gospel of Wealth, we can observe someone like Bill Gates. This is someone who built up a fortune then came back to establish foundations giving back some of its wealth to over come poverty or spread throughout the health and education systems. Participating in what Carnegie’s vision suggested, there are people living today who want to be apart of the revolt to help bring low income areas help that they need. Social Darwinists, like William Sumner contest that the turbulence of the