What event define the beginning and end of the gilded age
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What event define the beginning and end of the gilded age ?
The Gilded Age(1865-1898) marks the period of intense Industrialization focusing on America’s development as an Industrial and business power. Mark Twain coined the term “The Gilded Age” in 1890. The period witnessed the rise of few wealthy Individuals. The wealth accumulated by the Individuals was based on political corruption and exploitation of immigrant laborers.
Explanation
The Gilded Age began In America after the Civil war during the Reconstruction Era. The Industrial Revolution brought about the Gilded Age. With Europe, America began its journey from an agricultural society to an industrial one. Urbanization further caused immigrants to move from rural to Urban Industrialized centers.
In 1893, the US saw an economic depression. The Panic of 1893 saw the closing of banks and businesses, stock markets falls, and millions were left unemployed. The political corruption and social inequality gave way to the Era of Progressive Reforms under President Theodore Roosevelt.
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