The Gilded Age

Question 1

What was the Gilded Age?

Answer 1

The Gilded Age was an era in the United States that roughly spanned from the 1870s to the early 1900s and would simply be characterized by rapid economic growth, industrialization, technological advancement along with stark social and economic inequalities.

• The nation’s total wealth was $16 billion; by 1900 it was $88 billion.
• The Manufacturing sector of the economy generated $3 billion, a figure that rose to $13 billion by 1900.
• It would also mean that by 1900, 40% of the American population were city dwellers being a total of 30 million people.

Question 2

What was Laissez-Faire ideology?

Answer 2

Laissez-faire ideology opposed government interference in the economy. Economic development was facilitated by a supportive culture which placed confidence in industrialist and businessmen to refused to permit government interference in their efforts.

Question 3

What are Robber-barons?

Answer 3

Robber-barons were wealthy and powerful industrialists and businessmen who emerged during the Gilded Age in the United States.

The term “robber baron” carries the negative connotation for individuals who amassed their fortunes through unethical or exploitative means.