How Did The Gilded Age Affect The Economy

Rose Hernandez

Professor Flowers

History 106

25 September 2016

The Economy of the Gilded Age Mark Twain named the time period of social corruption disguised in gold in the United States as the “Gilded Age.” During this time period, immigration was high in the North and West, increasing the numbers of those who lived in the United States. Many of those who immigrated started businesses of their own and some of their companies came out on top. As more people lived in the United States, more people worked, which helped boost the economy. There was abundance of jobs, from working in factories, farms, and railroads. But unfortunately, those who worked during the Gilded Age were mainly lower class workers who rarely got paid, were over worked, and

There was an idea that if one worked hard enough, one can go far and earn respect for what he made. With this idea, many immigrants started businesses with hopes to bring capital in. There were some who became farmers and worked with the railroads to transport and sell their goods, factories manufactured various goods from textiles to steel, and the railroads worked with different businesses to bring their products to different parts of the United States for a fair price. The railroads were the main root to the success to business that operated in the States. These kinds of businesses had many employees who worked day and night to produce what they can. Some of those who worked hard found success, such as Andrew Carnegie and John D. Rockefeller. Carnegie was an immigrant who worked at a textile factory and worked hard to build a company that produced steel. Rockefeller worked as a clerk and made his way on top by owning the oil industry. Both men worked lower class jobs and ended up being well renowned for the amount of work they had to do to come out on top. “Especially in a new country where many tasks are waiting, where resources are strained to the utmost all the time, the judgment, courage, and perseverance required to organize new enterprises(sic) and carry them to success are sometimes heroic”

As seen in the 1882 political cartoon, an Octopus with the words “Corporate Greed. All for Ourselves. Nothing for the Public,” while hoarding crates underneath it with names of railroads depicts what railroads were doing to businesses. Railroads were setting high rates and over charging that made it hard for entrepreneurs to make money. The cartoon also depicted the mind sets rich business men had. Wealthy businessmen believed their wealth shouldn’t be shared with their workers, but believed in over working their employers, which lead to high labor and poor mistreatment. Carnegie made sure his factories were functioning 24/7. Rockefeller treated his workers the same as Carnegie. “… He bitterly fought his employees’ efforts to organize unions” (Foner). Many lower class laborers were rarely to barely paid, worked in unsafe conditions, had no health care, and rarely got leisure time. The mistreatment of the employees led to fighting for eight-hour shifts, days off, and health care. All this economical corruption led to unions being formed, strikes, and labor laws later into the