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In: Economics

From Ch. 17 (“Global Webs of Capitalism & Workplace”) What was new about the new industrial...

From Ch. 17 (“Global Webs of Capitalism & Workplace”) What was new about the new industrial order of the Gilded Age, and what factors made this new order possible?

Solutions

Expert Solution

Time between the 1870 to 1900 termed as Gilded age in U.S or it is called the The Industrial Age after civil war. Mainly focus on the industrial growth, political participation, immigration from Europe to America, and social reform.

Factors that determine or made it possible are as fellow.

1- Rapid Economic growth creates vast wealth during this age- Railroads, manufacturing sector, Mining and finance were the mainly contributors.

2- Political ineffectiveness and corruption at large level- Politics during this time not only experienced corruption but participation also increases. The ” political machine,” in which constituents supported a candidate in exchange for anticipated patronage, reached new heights.

3- Social reform and woman contribution- Gilded Age also was characterized by social reform, such as women’s suffrage, workplace improvements, prohibition, and civil service changes. woman actively started in politics and perform an important role in economy both as a consumer and worker.

4- Technologies and product development- Technology improvement which uplift the workers working conditions and improvement in product and process started creating value for money of the product.


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