jan 1, 1920 - 6.5 and 6.6 casation of the gilded age

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The term the Gilded Age was coined by a famous journalist Mark twain. It was the idea that the American society is growing economically in the surface. However, underneath, there is political corruption. The Gilded age was the time that people who owned big businesses really benefited from and the government had a laizzes-faire or hands off policy in which, mostly let the companies do whatever they want and didn't try for regulating them. This led to companies becoming monopolies which lower the prices in order to make the other company go off business and then buy the other companies business and higher the prices again. This basically lowered the competition and mostly giant companies owned industries, later those companies made trusts which was basically the idea of multiple companies often the same or may not the same industry under one big name company. Basically big businesses at this time took advantage and increased their wealth. The victims of the Gilded Age were the workers or laborers who fought for better working conditions, shorter hours and higher wages. Workers went on strikes and created labor unions in order to achieve their goals, but they weren't successful that much. During this time the economy of the US increased as new industries were founded and new technologies were invented.

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