Term 2 Blog Assignment #1: Are we living in another Gilded Age?
The Gilded Age (1865-1900) was the period of rapid economic growth and industrialization in the immediate aftermath of the Civil War. For the first time corporations (not politicians) established themselves as the engines of economic growth and the United States became the most powerful industrial nation in the world. During this time, new technologies, abundant resources and the eager, cheap industrial workforce brought tremendous wealth to individuals like Andrew Carnegie (steel) and John Rockefeller (oil). Meanwhile, the working class suffered harsh working conditions and lived in extreme poverty in overpopulated industrial cities. Social Darwinism emerged as a theory to explain and justify the reasons why the rich got richer and the poor grew poorer, but unions and social reformers called on the government to become more actively involved in preserving worker’s rights.
The Gilded Age (1865-1900) was the period of rapid economic growth and industrialization in the immediate aftermath of the Civil War. For the first time corporations (not politicians) established themselves as the engines of economic growth and the United States became the most powerful industrial nation in the world. During this time, new technologies, abundant resources and the eager, cheap industrial workforce brought tremendous wealth to individuals like Andrew Carnegie (steel) and John Rockefeller (oil). Meanwhile, the working class suffered harsh working conditions and lived in extreme poverty in overpopulated industrial cities. Social Darwinism emerged as a theory to explain and justify the reasons why the rich got richer and the poor grew poorer, but unions and social reformers called on the government to become more actively involved in preserving worker’s rights.
Progressive economist Marty Jerzer commented recently on the similarities between the US in the Gilded Age and in modern times:
"Abraham Lincoln predicted the Gilded Age and would not be surprised to see how money continues to corrupt our political system. Noting that the North had become an industrial power during the Civil War, he said, "I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. As a result of the war, corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed." We live in a new Gilded Age with bought politicians and greedy corporate managers. We no longer have a government by and for the people… we don’t even have honest debate… Honest Abe called it right. The corporate elite has been enriching itself at the expense of the rest of us for a good portion of the past 135 years.”(http://www.commondreams.org/views02/0208-02.htm)
1) Consider these comments and the comments of Democratic Presidential Candidate Barak Obama in the interview posted here: http://www.msnbc.msn.com/id/20826221/
2) Compose a summary of the interview with Barak Obama and respond to the following questions:
A)Are we living in a new Gilded Age? (provide evidence to support your answer)
B) Do you think corporations have too much power in modern society?
C) How and when should the government regulate the US economy?Your post should be at least 200 words and include a response to at least one classmate.
If you need further information on the Gilded Age as a historical period in order to thoughtfully respond to these questions, use your text and/or the resources at this site: http://lms.jefferson.k12.ky.us/WebQuests/GildedAge.htm
17 comments:
Klover McGrann
Summary of Barack Obama’s interview
The interview between Barack Obama and Brian Williams details the enormous struggles of today’s society. The vast economic conflict for the lower class citizens. “You also have 2.5 million people who may lose their homes. And there are some structural issues that I think we have to deal with, to make sure that everybody is seeing a growing economy but also, everybody is prospering at the same time.”
Are we living in a second Gilded Age?
We are living in the second great Gilded Age, a time of astonishing personal wealth. Like the first gilded age, new technologies are being formed, and new businesses are beginning to rise. The economy is increasing just as it did during 1865-1900. Economy has soared since 9/11. However, just recently it is beginning to slow down.
Technology is rapidly advancing today vas well. It is not so much industrial work, but the computerization of everything. Third world countries are beginning to emerge as producers of tangible goods. They are now experiencing industrialization much like the one we faced over 100 years ago. I read recently that in 2010, home computers will be smarter than the average man. Another article stated that today’s home computers are more advanced than those in the first spaceship.
However, much like the gilded age, there is a large struggles between social classes. As Barack Obama states, “and out in the hinterlands, people are struggling to fill up the gas tank or save for their child's college education or pay for their own retirement.” Even though the economy has improved and has become smarter, people do not have access to simple luxuries due to their social class.
Do you think corporations have too much power in modern society?
Absolutely not. Since we live in a Capitalist society, we want out businesses to do well. A Capitalist society refers to an economic and social system in which the means of production are primarily privately owned and operated, and in which investments, distribution, income, production and pricing of goods and services are determined through the operation of a market economy.
Teresa Konopka
AP US
Extra Credit
2/2/08
It can be argued that the twenty-first century is a gilded age. With new and pricey merchandise popping up, the middle classes are spending sometimes $200 on iPods and video games. Meanwhile, large corporations are raking in the dough.
Even Barak Obama seems to think that modern America is very materialistic and in a gilded age. In an interview, he speaks of how the rich get richer and the poor get poorer. Obviously, corporations have too much power in modern society. Still, it is the people that give the power over to corporations. Many Americans are not at all parsimonious and frugal. They instead covet new items released by well-known manufacturers. In reality, pricey goods usually only cost a little bit of money to make. Later, the price is skyrocketed to make a high profit. Some handbags, for instance, only cost about $10 to make and are sold for hundreds more. In foreign factories, laborers get paid very low wages and monopolizing corporations collect the dividend.
When it comes to regulating the economy, the US government should do a better job of distributing wealth. In order to do so, more policies would have to be passed. With Congress’ help, more money could be put into the welfare system and social security. However, as Barak Obama mentioned, this task is often difficult. Hopefully, one day, the president of the United States will lead the people out of the reverberating gilded age.
Response:
Even though I disagree with Klover that corporations do not have too much power, she did support her argument very well. She pointed out that most capitalistic societies have privately instead of jointly owned businesses. She also mentioned how Americans should want fellow corporations to prosper.
The interview between Barack Obama and Brian Williams shows us the struggles that Americans are facing daily. People who get paid large amounts of money dont care about others. They seem to get more breaks than as the interview says "their secretary does". People are struggling to get bills paid and get their morgage under control and paid. Many are worried about their kids going to college. As one goes through life things get more and more expensive and difficult. I agree with Klover when she says that we are living in the second Gilded Age. The richer are only getting richer and the poorer are getting poorer. Technologies are formed and businesses are created and they rise. The working class usually suffer harsh working conditions and it only seems to get harder for them to live. While the rich and taking in large amounts of money and lives comes at them easy. Most of them dont feel for others, like their secretaries who struggle. So yes i do believe that we are living in the second Gilded Age. Corporations do not have too much power in a way. They are only doing what they have to do in order for their businesses to sprout and do well. The government needs to do something about the economy now. As I said many times, its not fair to see others sprouting and one struggling. Many people have jobs that they earn too much money for what they do.Then in the society we have those who do the hardworking jobs and earn so much less than the others.
T-Rez
After reading How The Other Half Lives by Jacob A. Riis, my perspective on the current economical situation has swayed. In agreement with Teresa, it CAN be argued that the twenty-first century is a gilded age. With merchandise and product increasing in price, the economy and its needs are rising as well.
With some families living from paycheck to paycheck, some in extreme poverty, and a fairly large portion living high above the poverty line, the demand for equal economic rights is being debated. The Gilded Age, 1865-1900, was the time of swift economic growth and industrialization in the repercussion of the Civil War. Although I do not believe that corporations have too much power in our current economical world, I do believe they obtain more than they have earned.
The government should regulate the US economy by recognizing acts such as the Federal Estate Tax and whom they are directly affecting economically and should personalize payments made by citizens depending upon their annual income and financial positions and equally distribute the wealth across the nations diverse classes. Easier said than done, Barak Obama said that a mission such as this is not simply undertaken.
We as a nation should elect a President that has a view of equal economic opportunities and that has a vision for our future of a possible reoccurrence of financial distress on the country and potentially the world.
- Ann Morin Youssef
Ian Murphy
History
Block A
The Gilded Age was a period of great economic achievement that took place immediately after the Civil War due to our desire to rebuild. At this time, the United States reached the pinnacle of industrialization, becoming the most powerful nation in the world in regard to manufacture. It can be argued that the 21st Century, the time we live in, could very well be a second Gilded Age for the United States. An interview with presidential candidate Barack Obama specifies the financial struggles and conflicts all standard Americans face in their day-to-day lives. It appears that while we continue to struggle to make a profitable living, we are flourishing economically as we speak. In other words, I agree with Klover that we very well may be living in another Gilded Age. However, I believe that some corporations may be gaining power a little too quickly. We seem to be developing so rapidly that fewer areas in which we can prosper are beginning to emerge; it probably won’t be very long before this age ends at this rate. Instead of enjoying what we may have left while it lasts, the government should mete out the country’s wealth more evenly among citizens and businesses. We may not live in a Gilded Age forever, but we are much better off not leading ourselves into another Great Depression.
After reading the interview including Barrack Obama I have realized that the rich have all the advantages. Just because of their money they are automatically excluded from hardships. As many of the other bloggers have stated, the poor continue to become poorer as the rich become richer. Like the debate we had in class, the tax at death was a factor. The rich would not mind as much as the poor. The poor work their whole lives holding on to their assets to just have most of it taken away at death. The family now has to work hard again to merely gain all the assets lost at death. I however do not agree that we are living in a new gilded age. Because of the tax decreasing and soon to be gone, the age will not be similar to the one like the gilded.
This interview between obama and brian williams sheds light on the slowly disintegrating american economy as well as the current decline in financial status many americans are facing today, the economy is growing rapidly yet this growing economy is a result of an over striving society or as marty jezer puts it “a culture that appears to have encouraged pushing the limits.” This determination has boosted the economy however it has driven the lower class citizens into poverty and it consistently profits the rich.
no doubt the current situation of america indicates that we are living in the second gilded age. though scientific and technological developments have accelereated this country to the top of the worlds economical and industrial roster, the country itself is imploding from within as peoples personal businesses are being undermined and they are crushed by the commercial giantson the top.An example of this would be the conditions of some citizens who are living hand to mouth whereas the wealthy people are leading less bothered lives. This advancement has hollowed our politicians and filled them with the greed and insatiability for more power. people in less developed areas as obama stated are still squanderring and squabling for more basic need such as food and education, while others are worried about running water and gas. This increasing problem of personal wealth has caused our political leaders to be bought and it has caused a conflict between the social classes, much like the guilded age.
i believe that that corporations have secretly snatched power little by little from the country, and this increase in power has cuased a disbalance in the run of the country, these companies have manipulated our congress with thier wealth and have averted thier ficus from the countries basic problems to wards expanding the countrys wealth and thier own. i would disagree with klover that even though our country encourages a capitalists society, this society has overstepped thier boundaries and have the power so that no one can point it out. even though help the country in terms of capital, they don not do so well in the area of nationaltism and patriotism.
::The Summary Of Barack Obama's Interview::
The Discussion between Barack Obama and Brian Williams depicts a clear message of todays struggles society faces in the present and what could happen in the near future. The main problem is the "social safety Net" that Obama describes that if the social security system is not helping the elderly and citizens that cannot depend on, this country will begin to go down a slippery slope.
::Are we living in a second Gilded Age?::
Yes, yes we are! Like the first Gilded Age, our country was drastically introduced to some major technologies like printing presses. This began the "industrialization" of America. The Economy went up drastically in the late 1800's. However, as it did then, it slowed down. Our present economy went up a lot since the terrorist attack on 9/11 and has continued to rise, until this year. This year, it has began to slow down and began to "level out". We are facing a second Gilded Age in the sense that technology is taking over many jobs in a good and bad way. Technology is being used to perform tasks that might be too dangerous for humans to perform. However, there are some jobs, such as car manufacturing, are being taken over by computers and mass machinery which are taking many jobs away from hard working people. We are being introduced to many drastic changes in technology such as servers being placed in household families to control our home computers.
However, there are some issued that need to be attended to before any problems arise in our economy. Even though The US's economy has now become more adavanced, more though out, and much smarter than it was in the late 1800's, many people do not have the priority to have the simple qualities in life that they should have, just because they are not able to arise in our economy to help make their lives a better place.
::Do you think corporations have too much power in modern society?::
To be honest, there isnt really a solid answer for this question. No, because we do reside in a capitalist society, and yes because there are so many MAJOR corporations that have so many branches in that major corporations that eventually that money is ending up in the same place and that not a very good circulation of our country's economic funding.
According to the interview between Barack Obama and Brian Williams, we are living in a Guilded Age. In an interview, Barack Obama speaks of how the rich continue to get richer and the poor continue to get poorer. Barack stated "Now, I think that most Americans don't resent people for getting rich. They want to get rich themselves. And they believe in the free market system. But they worry that the system may be rigged. And that given the combination of technology and globalization, that more and more people are not able to compete and potentially over the long term, which their children may be a little bit worse off than they were." This details the stuggles that Amaraicans face expescially those who are in the middle class and below. I personally think we are living in a guilded age becasue the same rapid economic growth and industrialization continues today. Prices of things are never leveled making it harder for the less fortunate to afford them. This helps corporations make more profits and establish themselves as the engines of economic growth and the United States. These corporations continue to make money and the more they make the powerful they become. In the interview, Barrack also stated that there are failures in the regulatory regimes that have been set up. Therefore, we need is stronger market transparency and accountability.
I agree with my classmate and friend Ann that the government should regulate the U.S. Economy. The Federal Estate Tax should be altered because they are directly affecting certain groups of the economy and personalize payments made by citizens depending upon their annual income and financial positions. This is one contribution to the struggle of the poor.
Crazy classmates of CSIHSIS,
As people say, history repeats itself. The Gilded Age was a time from 1865 to 1900 that refers to major growth in population in the United States and extravagant displays of wealth and excess of America's upper-class after the Civil War. The growth of industry and a wave of immigrants marked this period in American history. The production of iron and steel rose dramatically and western resources like lumber, gold, and silver increased the demand for improved transportation. Railroad development boomed as trains moved goods from the West to the East. Steel and oil were in great demand at this point. John D. Rockefeller and Andrew Carnegie were known as robber barons, which are people who become rich through ruthless business deals. Rockefeller conducting oil and Carnegie conducting steel produced an abundant amount of wealth in both industries. The Gilded Age received its name from the many great fortunes created during this period and the way of life this wealth supported. As Barack Obama stated, “there is a hunger for change in the country. And there's a recognition that we've got a series of decisions that we've got to make. Not just on the war, but I think about health care, energy, education that we can't put off any longer." Agreeing with Katie McGrann, we are living the "new" Gilded Age, and are in trouble. The poor are becoming poorer and the rich are becoming richer, this will soon corrupt our entire country and we have to take a stand and make a change.
Love always and foreva eva, Kristina Catsz.
Kristina stated that history repeats itself. according to Barack Obama we are living in The Gilded Age of 1865 to 1900. like in any major civilizations, an uprise and downfall is always present. our age. Although we are living in an age where transportation and wealth is at an all time high, we are nowhere near close to the Gilded Age. Our upper class is no better. Yes our technology is excelling, yet if we are doing so well, why are we still borrowing money from allied countries such as China?
In Barack Obamas Interview with Brian Williams, it is believed that economy is increasing in stature as well as individual wealth. Teresa Konopka brought up a good point by about how we are living in a materialistic world where the rich get richer and the poor get poorer. in the Gilded Age, wealth was found everywhere and there was an opportunity for everyone. today, we are faced with corrupt government and a system that doesn't seem to work for minorities.
Corporations do have too much power today. Teresa also stated that today, electronic devices are being overpriced which leads to an increase in money that corporations collect. A part of the corporations intake of money is determined by the crave for popularity in the world we live in today. without the constant need for popularity, items such as ipods, phones, and expensive clothing wouldn't have as much money as they have today.
Kevin Zhao
Barack Obama's interview with Brian Williams, gives us a better understanding on his position as a democratic nominee. His concern with the economic system of the United States is highly regarded in his interview. Especially, with those who are in the vast majority of poverty. Although Obama poses a great concern towards the people in poverty, he also states that "...most Americans don't resent people for getting rich. They want to get rich themselves." Obama understands the American dream, while understanding in some Americans' point of view that our system may be rigged. Therefore, in his position, he believes that, "what we need is stronger market transparency and accountability...we have to think about how are we investing to make sure that everybody can compete in this global economy."
Regarding the war in Iraq, Obama strongly believes that the Soldiers must to taken out of Iraq in the midst of a civil war. He opinions his thoughts on Bush as the commander in chief; stating that Bush's order on General Petraeus was a "bad call." On the other hand, if Obama was elected as president, he would "trigger a different behavior on the part of the Iraqi leadership, so that they can start accommodating and-- and arriving at a political solution where there is no military solution available."
Although we live in an open-market economy, I can freely say that we do not live in a second Gilded Age. In our first and only Gilded Age, the people of the "free world" lived in a country with pure capitalism. The country centered itself through the merchants and businesses itself; it was an age of industrialization. However, in our generation, there is no hint of businesses interfering with our daily lives. Back in the age of industrialization, the government had no say in private businesses. Today, in the 21st century, the government interacts with our private businesses constantly--let alone, taxes.
The power of corporations today were not as powerful as of the gilded age. As a normal American citizen, I honestly do not see any power arising from any corporations. Perhaps their power in persuading others to buy their products. But other than that, there are no poses of threat or power that is in the caliber of the government itself.
How and when should the government regulate the US economy?
The government should regulate the US economy when it is in time of struggle or war. Private businesses and ownership should never be intervened by the government. Otherwise, we wouldn't be a "free-country", would we?
Short Response to Klover Mcgrann:
Regarding your response to "Are we living in a second Gilded Age?"
In the gilded age, poverty was indeed at its highest peek in American history--including the immigration rate. However, the Gilded age was also of America's highest peek of rapid economic growth which brought tremendous wealth to individuals like Andrew Carnegie and John Rockefeller. So in the pursuit of the American dream, we are indeed living in a Gilded Age. But in reality, we live in an economic struggle where a change is needed (like our universal health care system.)
Leticia Lucero
In the Barack Obama interview, "Presidential contender speaks with NBC's Brian Williams,"
Obama details how The Guilded age of 1865 through 1900, can still be occuring in our society today.
Throughout the interveiw Obama explains on how the richer get richer, while the lower classes of society struggle to make it to the top. "And out in the hinterlands, people are struggling to fill up the gas tank or save for their child's college education or pay for their own retirement." Towards the end of the interview Obama comments on how one of his main goals is "to unify the country, that we need to overcome the special interest driven politics that have come to dominate Washington."
Looking back towards the years between 1865 and 1900, many can see that there were both positive and negatives effects during the time period known as the guilded age. The guilded age was a period in time after the Civil War when the U.S economy rose making the United States a powerful nation; through this time only the rich prospered, while the working clas stayed poor. Even though the years of 1865 to 1900 can be marked as a guilded age, it is safe to state that we're living through a guilded age today. Looking back towards Obama's interview he states that "But the underlying economic factors that produced a very small number of extraordinary winners and there's been enormous waste, stagnation for ordinary workers, which is why we've got the greatest income inequality since any time since the gilded age." Through this quote Obama states that we are in fact living in a guilded time because of the huge indifferences between the rich and the working class. This all ties in with the fact that it is unclear wether or not corporations hold to much power. For one thing having our corporations dominate helps the United States economy, on the other hand low income workers are suffering because of there being some corporations that hold up the money from being circulated to everyone else in soeciety.
I agree with katie's comment on the fact that we are living in a Guilded age, and on the fact that because we are indeed living in a guilded age there are many social struggles occuring.
Katie - E: thoughtful and detailed, but I am inclined to remind you that we live in a MIXED economy, which includes elements of market and command systems (so not technically capitalist.)
T - Rez - S+: Please post a comment on another student's blog so I can change your grade to a G or E, this is great work!
Ann- S+: sophisticated allusions/ connections to other texts you are working with in Journalism and our class. Post a comment or question to one of your peers and i'll change this to an E.
Ian - G: thoughful post and commentary on Katie's work.
Chris- N+: this post is a little short, but reflects the key ideas required of the assignment. However, you didn't comment on the work of one of your peers. Do so and I'll change the grade.
Farooq- E: GREAT to see you here! Insightful and informed comments.
Wayne - S+ : Informed and analytical post. I'll raise the grade if you comment on the work of at least one peer. As I noted to Katie, we tecnically live in a mixed economy, not pure capitalism.
Quelmi - G: This is solid analytical work but some of the key trends you identify (globalization, accountability, etc.) merit further explaination as they mean different things to different people.
Kristina C.- E: Your post refelcts that you really understand the era and it's connection to today. Nice work.
Vinny- S+: You reach for some sophisticated connections but would benefit from more historical examples to back up your main ideas.
Kevin - E: I remind you (and your peers) that technically the US is a mixed economy. Minimum wage, labor laws and Social Security are examples of why we are not a true capitalist nation. Still, your post is rich in historical detail and sophisticated analysis. Nice work.
I was extremely impressed with the level of analysis in these responses, A Block. I encourage those of you who haven't posted yet to join the discussion!
Sylvia Shojai
Presidential candidate Barack Obama’s interview with Brian William discussed his plans for the presidential election, and how he would contribute to aiding the United States’ current economy. He mentions how the people’s income differs immensely from each other, as investment bankers are making loads of money, and other Americans are struggling just to pay their bills and put their children through school. It really is not fair that 2.5 million people are losing their homes in the United States, while others are getting even richer. Obama says that it is important for the economy to prosper as a whole, so that everyone can grow, and improve their lives at the same time. When asked about his campaign, Obama responded by stating the key issues he wishes to focus in on. “There is a hunger for change in the country. And there's a recognition that we've got a series of decisions that we've got to make. Not just on the war, but I think about health care, energy, education, that we can't put off any longer.” It is obvious that Obama is serious when it comes to changing the issues in our country; he seems to have a goal for every problem in the US. Besides those issues he also wants to deal with universal health care for all, a world class education system, and global warming/ energy independence.
It is difficult to say whether we are living in a modern Gilden Age or not, but just like in the Gilden Age, there is a large gap between the lives of those in different social classes. During the Gilden Age in the late 1800s to the early 1900s the aftermath of the Civil War caused a drastic up rise in the economic growth in the US. Certain corporations were using the new technologies to their advantage and finding great wealth. At the same time, many low class citizens struggled in the slums of poverty, and were barely getting by. The same goes for today, where people are experiencing fortune on Wall Street but not very far away homeless people crowd the streets. Most people are in the middle, and have to work hard to earn their money yet struggle with the burden of bills and taxes.
It is true that some corporations have too much power in modern society. When big businesses earn wealth and gain power they are finally recognized, and slowly climb higher and higher until they have enough power to make the exact choices in society. Our society is definitely all about the balances of power, and the more of it the corporations have, the more they can corrupt the economy and get away with it. Like Farooq said, the power of corporations has made a major shift in the operation of the country. It has also distracted leaders from the real issues and taken their focus towards their own person profits.
The government should in fact regulate the US economy, particularly during times of recession and inflation. The rise and fall of the economy cannot really be determined and regulated by the people because that could turn somewhat chaotic. Laissez faire does not work well because the country would be separated if the economy went one way and the government did not interfere.
Kristina Sanzone*
A Block
Feb 10th, 2008
Responding to Katie McGrann, I completely agree! It really is like we are living in what could be called the New Gilded Age. It actually isn’t shocking since history has repeated itself many times, but this isn’t good for us. It is only obvious that poor people are not finding ways to regroup themselves, so they become ever more poor, while the much more wealthier people are living the life and continue to prosper. Our country has unfortunately been corrupted. =( However, as Barack Obama states there is possibly hope. “There’s a hunger for change in the country. And there is a recognition that we've got a series of decisions that we've got to make. Not just on the war, but I think about health care, energy, education that we can't put off any longer.” Perhaps we will not be stuck in this period for much longer. The Gilded Age was the time period between 1865 and 1900 where the American population grew tremendously in size, industry was HUGE marking immigrants, and ridiculous inclines in the wealth of the upper class citizens were constant. With industries becoming so popular, their demands began to quickly enhance themselves. For example, steel, iron, and oil were needed in much bigger amounts much more often. Also, since transportation began to grow the need for gold, silver, and lumber were needed just as much due to the development of railroads. With this new form of transportation available, goods could be shipped much quicker. This was the time of the tycoons, Rockefeller and Carnegie. They grew so rich off of the business deals they set up with steel and oil purchasers. This was how the rich become much richer, leaving the poor to simply get poorer.
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