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Swampyville's - "The Gilded Age"

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Swampyville's Ask the Politically Correct.

Question:

What was the Gilded Age (The Robber Barons)?

Politically Correct Resolution:

In American history, the Gilded Age refers to the era of rapid economic and population growth in the United States during the post-Civil War and post-Reconstruction eras of the late 19th century. The term "Gilded Age" was coined by Mark Twain and Charles Dudley Warner in their 1873 book, The Gilded Age: A Tale of Today. The name refers to the process of gilding an object with a superficial layer of gold and is meant to make fun of ostentatious display while playing on the term "golden age."

The Gilded Age is most famous for the creation of a modern industrial economy. During the 1870s and 1880s, the U.S. economy grew at the fastest rate in its history, with real wages, wealth, GDP, and capital formation all increasing rapidly. A national transportation and communication network was created, the corporation became the dominant form of business organization, and a managerial revolution transformed business operations. By the beginning of the 20th century, per capita income and industrial production in the United States led the world. The businessmen of the Second Industrial Revolution created industrial towns and cities in the Northeast with new factories, and hired an ethnically diverse industrial working class, many of them new immigrants from Europe. The super-rich industrialists and financiers such as John D. Rockefeller, Andrew W. Mellon, Andrew Carnegie, Henry Flagler, Henry H. Rogers, J.P. Morgan, Cornelius Vanderbilt of the Vanderbilt family, and the prominent Astor family were attacked as "robber barons" by critics, who believed they cheated to get their money and lorded it over the common people. Most of the above group met regularly to make decisions on how to proceed with their monopolies!

During the Gilded Age, the U.S. grew to world economic leadership. For example, American steel production surpassed the combined total of Britain, Germany, and France, and the U.S. led the world in many areas of technology. Railroad mileage tripled between 1860 and 1880, and tripled again by 1920, opening new areas to commercial farming, creating a truly national marketplace and inspiring a boom in coal mining and steel production. The voracious appetite for capital of the great trunk railroads facilitated the consolidation of the nation's (financial market in Wall Street), creating a monopoly for a handful of financiers. By 1900, the process of economic concentration had extended into most branches of industry and a few large corporations, called "trusts", dominated in railroads, steel, oil, sugar, meatpacking, and the manufacture of agriculture machinery. Other major components of this infrastructure were the new methods for fabricating steel, especially, the Bessemer process.(Wikipedia)

List of supposed Robber Barons:

John Jacob Astor (real estate, fur), Andrew Carnegie (steel), Jay Cooke (finance), Charles Crocker (railroads), Daniel Drew (finance), James B. Duke (tobacco), James Fisk (finance), Henry M. Flagler (railroads/Oil), Henry C. Frick (steel), John W. Gates (barbed wire), Jay Gould (railroads), Edward H. Harriman (railroads/ finance), Mark Hopkins (railroads), Andrew W. Mellon (finance/oil), J. P. Morgan (finance, industrial consolidation), Henry B. Plant (railroads), John D. Rockefeller (oil/finance), Charles M. Schwab (steel), John D. Spreckels (sugar), Leland Stanford (railroads), Joseph Seligman (finance), Cornelius Vanderbilt (shipping/ railroads), Charles Tyson Yerkes (railroads/street cars).

Having control of this nation's economy, it was only natural to expand to overseas markets.

With the complete control of this nations economy, these monopolists began to seek ways to control the international markets.

Many descendants of those listed above are continuing what their forefathers started.

"NON TENEAS AURUM TOTUM QUOD SPLENDET UT AURUM" (All that glitters is not gold)

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