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How Did A Big Business Affect The Economy During The Gilded Age

902 Words4 Pages

Throughout American History, business has been the vital foundation of economy and political stance. Most Prominently during the Gilded Age, when the economy grew at a fast pace due to large businesses who controlled most things. Furthermore, significant companies such as oil, railroad, and steel businesses were responsible for giving a path to a greater economical standpoint in the United States. Companies during this era whom had major importance, had the ability to control the economy with one command because they controlled a spot in politics and also had major controlling over the people that worked for them. Many Americans had to depend on these big businesses for a job and also for either transportation or the products that the businesses …show more content…

The Historical statistics of the United states (Document A) from 1870-1899 shows the decline in food prices, cost of living, fuel and lighting prices,this is due to the mass production of products. Products that are being mass produced, for example, is kerosene which allows for the declined lighting prices. The decline in lighting is a positive impact to the American, it allows many people to work beyond the sunset and thereby affecting the economy because workers don't have wait for daylight in order to work. Although the decline of prices was best for many people, in other hand, it was not great for farmers since food prices declined. When food prices declined so did the revenue that these farmers were gaining from agriculture, many were angry for this and eventually led to the farmers alliance which had a goal to end agricultural …show more content…

In Samuel Gompers annual address to congress (Document G) he explains the ways people are treated by “the producers of wealth.” In Gompers address he states “ usually known under the euphonious title of “Property….” Similar to slavery, workers are being considered property and being put under strenuous hours of hard work. But differently to slavery, people are receiving wages but they are inadequate wages. American workers thus demand the “ adequate wages.” Big Businesses had the power and ability to do anything on their behalf and be able to change the

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