Saturday, February 2, 2008

Term 2 Blog Assignment #1: Are we living in a new Gilded Age?


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.


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

20 comments:

Tiffany Cho said...

The Gilded Age was the period in American history that followed the Civil War and Reconstruction. From 1865 to 1900, the theory of Social Darwinism and Laissez-Faire supported the fact that only a select few would be extremely wealthy businessmen while the rest were poor working class citizens. With rapid growth of industry, entrepreneurs during the Gilded Age produced wealth from goods and resources such as oil and steel. Even today, we are living in the Gilded Age. With the demand for more innovation, many corporations are becoming unimaginably wealthy while the rest are working hard to make a living. For instance, small family grocery stores are less prone to business due to large, well-known supermarkets such as ShopRite and Pathmark. In the interview with Barack Obama, he discussed the evident division between the upper and lower classes in modern day society. “We've seen hedge funds, private equity funds and investment bankers make extraordinary profits. 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.” Obama stated that although the economy is growing, the prosperity should be evenly distributed to everybody. He also pointed out that many people are unable to reach financial success due to the competition and the growth in technology and globalization. Obama’s solution to create a balance between the marketplace and everybody else was to invest in areas, such as education and energy independence, that gives everyone a chance to “compete in this global economy.” In modern society, there isn’t too much corporate power. It is very much a necessity because it makes competition, which ultimately helps to fuel the economy. However, in regulating the U.S. economy, I agree with Teresa’s suggestion of the government taking responsibility in evenly distributing wealth to everyone. Especially during times similar to the Gilded Age, the government needs to set more policies to prevent monopolies and keep big businesses from becoming exceedingly wealthy. In contrast to laissez-faire, there should be at least some government influence to bring together the two divided classes.

ke ai said...

Ama Kwakye!!!
February 2, 2008
Block F!
Gilded Age

An author named Des Moines once stated “ever since 1995, their has been a restart of the Gilded Age”. Barack Obama defiantly feels the Gilded Age is repeating itself again. He feels our society is very money-oriented. Barack Obama and Brian Williams had an intriguing interview about today’s economical flaws. Obama and I are on the same page about this issue. Defiantly, our society is very materialistic. This repeat in the Gilded Age is causing people in lower classes to spend money where they can’t reach. There has been many economical control over people's food, clothing and shelter. Many countries with excellent goods are starting to use their goods to build wealth. With their concrete goods they are now starting to develop a “Gilded Age”. I don't think the "Gilded Age" ever really ended; it may have just hid for a while but is now blooming again. The whole big scandal on Wall Street that occurred in 1905 is happing again. Ever since September 11, 2001 attacks our economy has relaxed. Most of America’s wealth has come from industries and population. In various documents it expressed the need to say the Gilded Age was a waste of time. Corporations do not have too much power in our modern say society, which isn’t always effective because in order for a business to be run the right way it needs to fully owned and dealt with only by the corporation.

ke ai said...

Tiffany and Teresa both make good points, I also feel the governemnet needs to get involed and set policies but only to a certain extent!

kiissmeindarainn said...

From this interview between Barack Obama and Brian Willams. It had showed me Americain's everyday stuggles.Many people are struggling to get bills paid and their morgage under control and paid, also many people are worryed about their kids and there education They are living in the second Gilded Age, and the Rich people are going to make more money and the poor people are just going to still be poor, very little people dont care about each other and the stuggles that are happening to them. I do belive that we are living in the Second Gilded Age. The goverment needs to do something about the economy now. Coropoations dont have power, from only doing things for there familys and order for their businesses to grow.





ashleyyyyyyyyy:]

khadijat O. said...

The Gilded Age was a period in time that reflected industrialization, economic growth and raised tension between the rich and poor. With new inventions being made to help human life become a bit easier for all , money began to grow for some. The used to be slave now had a house with a picket fence because his idea for a toaster (lets just say) was patented by the government. While more and more people began patenting new ideas, they made a good amount of money, which made them rich. While the rich became richer, the poor became poorer: which is looked upon as the disadvantage of industrialization. Obama and President Lincoln obtain a similar point of view on corporations and rapid economic growth. They feel that it is normal for people to want to be rich and get the "good things" in life; however, they also reckon that it will bring greediness and hash competition. While reading Obama’s interview, he said something that really popped out to me. He said, “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.” I totally agree with Obama’s statement. Items need to be produced and sold, yet is it really unfair that we have billionaires like Oprah and poorest of the poor living in America. I am kind of on the fence with this topic because I do believe if a person works so hard to make it somewhere, they should enjoy everything they get. No one should be resented for being rich. But I don’t believe that because a person is poor, they didn’t work hard enough or strive to be good in life. Who would ever want something like that for themselves? Like Obama, I believe that everybody wants to be rich and has too much faith in the free market system. Is this the system we should follow? In my opinion, the free market is definitely rigged due to supreme power. Also, because of technology and globalization, more and more people are not financially able to compete. How can someone start a business when they have no money? Yes there are loans but, what happens if their business does not work? They will probably die in debt and close all opportunities for their children, because they too will probably be in debt. Whenever, we have people living on the streets and people living in mansion, we are living in the Gilded age. Like Ama, I don’t really think the Gilded Age ever died down in 1990. Corporations like Apple and Microsoft have too much power. There was a time in were you couldn’t have Word Document if you didn’t have Microsoft software. Now, you can’t have an Iphone if you don’t have AT&T. Now a days, the letter “I” is attached in front of everything! How are other companies supposed to grow? This is definitely unfair. Though the concepts of Social Dwarnism and Laizzere – Faire may disagree and say “it’s the survival of the fittest”, the government should regulate now! America should not be made into a place were competition is our core value. Karl Marx was trying to avoid all of this. I am sick and tired of the letter “I”. Soon or later the “I” company is going to make a product for every aspect of life. In regards to Ama’s post, I never realized that our economy died down in September 11th. This is probably because of the international safety in regards of our imports and exports.
Later!

Ciara said...

Ciara.
In the interview with Barack Obama it becomes apparent that he feels there is too great of an inequality in the difference of income for American Families. He also discusses the theory that the economy is unfair, especially when it comes to people having the opportunity to become richer. Obama basically shows that he wants to make many major changes in the lifestyle of Americans. Barack Obama seems to feel that we are living, or re-entering a Gilded Age, and I would have to agree. At this point in time there is an extreme income difference between rich and poor, and with the cost of living becoming so high, it’s extremely difficult for people to make a decent living. The corporations have a great amount of power in society, and it is unfair for others who are trying to make a living. CEO’s and other large company owners are taking control of the economy, and the gap between the economic classes is becoming larger. It is unfair that the rich are receiving tax cuts while others are struggling to make it day to day. The government should definitely become involved in making the difference in the economy smaller. I do agree with Ama and Tiffany that the government should become involved. But the government should only become involved to a very small extent. The government should be there to help aid people who have extreme difficulty in getting finding the schooling, training, or start off careers necessary to improve their lifestyle. In order to solve the issue that is in America today, the government should try to make small changes in the economy and aid the people who are really in need of it.

Conor_M said...

Conor McGinn

The Gilded Age was a time when the theory of Social Darwinism held strong, and individuals became extremely wealthy, or extremely poor, for their business and labor. It was a time when government did very little to regulate economy, and it was all about "survival of the fittest". This idea of business is so far from what today's business ideals have become. I do not see how one can believe we are living in another gilded age. The government uses taxes, laws, and unions to prevent the truly worthy business men and women from reaching their full potential. We no longer have people to reach the same successes as Rockefeller and Carnegie because the government is doing too much to regulate what happens. In an interview, Barack Obama stated that the division between upper and lower classes is becoming more and more clear, and this is proof of a gilded age. This is not proof of a gilded age, but proof that some people still believe in working hard for all they have, and some people are relying too much on the government to ensure they always have some money in the bank. We as a people should push to return to a gilded age because hard work deserves to be rewarded, and those who do work hard, should not be paying ridiculous taxes to support those who expect what they need to be handed to them.
Corporations are powerful forces in today's society, but it is deserved. Any corporation that has become successful has done so through well-planned, strategic business measures, and should not be taken down a notch because they know what they are doing. If a corporation markets itself well to take over a specific market, that corporation deserves it. The government is taking too large a role in our economy, and should step back. People need to realize that hard work is rewarded, and hard working people's tax dollars does not suffice earning a living for oneself.
Tiffany said that she agreed with Teresa that government should be taking responsibility in evenly distributing wealth to everyone. I strongly disagree with this. It is up to the individual to earn a living, not for the government to hand it to them. People need to learn what hard work is, and if they have the drive to do it, they will be able to make their living and be successful. The successful business people should not be responsible for making the government seem as though they are putting all this money into taking care of every person by collecting ridiculous taxes, and imposing ridiculous laws.

Shaun Q said...

Shaun Quinto
F-Block
2/3/08

During the Gilded Age, the economic crisis was much more threatening than the modern market is facing. In the interview with Republican presidential candidate Barrack Obama, the candidate was able to summarize the problem we currently facing. After a speech on Wall St., Obama spoke with an interviewer from MSNBC, Brian Williams. He said that on Wall St. there are definetly people who are doing the best they can, but in other parts of the country there are people losing their jobs and struggling to stay on track and support their family. The presidential hopeful wants more of a balance between the decline of poorness and incline of the richness. He focused on the real estate market with home loans and mortgage rates. He blamed the gradually declining economy towards loan corporations. They lowered their standards on who can take out loans, and now all of those people are in debt because they really couldnt afford to take out that loan. In my opinion the Gilded Age was more of a problem than today's struggle. We learned from the Gilded Age, and there are restrictions on the power of corportations. For example, monopolies aren't allowed, unless the company allows the government to watch the prices very closely. In my opinion we learned too much from the Gilded Age to let it get that bad. On the other hand, I think some corporations do have too much power. Corporations are taking over the market. For example, there is little room for a little corner store to survive. These big bussinesses sell everything a person can need in one place, and are able to mass produce and sell at discounted prices. In my opinion there should be more opportunities for small bussiness to compete with big bussiness. Even though I think there should be chances for small bussinesses, I believe in Social Darwinism even stronger. The government shouldn't be allowed to take away from the striving and growing bussinesses out there. They earned the ability to do whatever they need to do to survive. As long as they follow both moral and political rules, there shoudl be no restriction. I disagree with Ashley Cifu's comments on the government being allowed to intervene on big bussiness. They were once a small time bussiness, but they had the ambition to be succesful. So, they should be able to take advantage of their ambitions without the interference of the government.

Unknown said...

Thomas Tarnawski

Shortly after the Reconstruction period that took place after the Civil War, a new era began. This era was known as the Gilded Age, a period in the U.S.’s history that lasted from the late 1860’s to the early 1900’s. During this time frame, the United States was the most prosperous nation in the world. New means of invention and patents were being passed on a regular basis. In the interview with Barack Obama, the presidential candidate stated that society was re-entering a gilded age again. I agree with his opinions due to the “caste” system returning. People in today’s society have a big difference in their pay roll. The annual average of income a year is a bit over 30, 000 in the United States, which isn’t very high. This means that only a select few are making a lot of money, while others are stuck eating their dust. Therefore, in todays society Social Darwinism exists, meaning “survival of the fittest”. Corporations have too much power because of the lobbying that exists in today’s political elections. Companies like Apple and Microsoft give huge amounts of money to politicians to run ads and win the publics vote with a biased result. Governments should get involved with the economy. The U.S. is in more debt that they have ever been. To fix these problems, the government should focus on exporting more than importing. People with lower incomes have to pay the same taxes that people with wealth have to pay. By getting rid of tariffs, the American dollar would be worth more.

karmila said...

Karmila Saulong
Block F

The Gilded Age was a time where the economy and industrialization of America increased dramatically. With the advancement of technology, abundant resources, and the work force many corporations found that the Gilded Age was a time of success and obtaining wealth. With Social Darwinism enforced many individuals quickly became rich; however, many people in the work force were still poor, thus, causing tension between the wealthy and poor. Society today is living in the Gilded Age especially with large business and monopolies that continue to earn high wages but the working class still struggles to increase their wealth. In Barak Obama’s interview, he points out that there is a strain between the rich and poor in modern society. “We have to deal with, to make sure that everybody is seeing a growing economy but also, everybody is prospering at the same time.” Clearly, Obama sees that many wealthy Americans are prospering yet a large number of people are not benefiting from the economy. I agree with Ciara’s statement about how the economy being especially with letting Americans making a huge profit. However, I disagree with Conor’s statement about how people can no longer reach the same success as Rockefeller. Many corporations continue to become as successful and abuse their power as business investors such as Microsoft. Many corporations have more power than society thinks. Many small business struggles to survive because of large well known corporations that produce the same products. There have been many conflicts with corporations gaining too much power such as Microsoft. The government can help regulate an economy by helping small businesses compete with larger one. However, if a large corporation is doing well off the government should not be involved with helping a successful business.

Mattrageous said...

The interview with Brian Williams and Barak Obama discusses many struggles in the world today. Barack Obama speaks of the economic struggles such as, gas money, college education, etc. "But you also have 2.5 million people who may lose their homes." The gilded age does not really exist in this country. Many people give to the people of our country such as community service or charitie organizations; seem as if we are living in a gilded age. But there are many people without or even with jobs who can’t support their family or their selves. Many people are living off of food stamp, which just doesn’t cut it fore them. Bills are a lot of money, and so are insurance, clothing, food, etc. Many people are slowly losing their jobs, and it’s hard to find work that has benefits including dental and medical insurance, or jobs that even pay enough for a person to live off of. I believe that corporations do not have too much power. Anyone who owns a business wants their business to do well. the owners use their power to make their business succeed. It’s unjust to see people failing & people succeeding at what they want. The government needs to make it possible for everybody to succeed at what they want. Many people get paid an extreme amount for sitting at a desk all day, while others are working harder then ever and get paid the littlest amount of money. Corporations do what they need to do to succeed. Though their power many sometimes seem overbearing, they are really just trying to succeed.



Shmatt.....

Mattrageous said...

also what Ashley said is true the rich get richer and the poor get poorer

Shmatt.....

Yasmeen said...

Yasmeen Sweatte
Block F
2/3/08

Blog Post: The Golden Age in my opinion ia completely different from how we as people live today. During The Golden Age, Social Darwinism played a major role in society. Our government uses things such as: taxes and laws to prevent a majority of individuals from succeeding to their full ability to do things in life. In the interview with Barack Obama, I strongly disagreed with him when he stated " Division between upper and lower classes is becoming more and more clear, and this is proof of the Golden Age". I hold Baracks' opinion FALSE! But, as an individual I believe that, one should strive to earn what they deserve instead of waiting on the government to hand it to them. As human beings trying to survive in this "money hungry" world, we should empower ourselves more eachday to overrule Obamas thoughts. However, corporations play a major role in society today as well and it's a good thing. I say that because, a big majority of corporations sometimes interest people both young and old to step up in life, and teach one not to wait for things to be handed to them in life. The government should regulate society at all times I believe especially when it boils down to society being ran in a respectful and, organized manner.

Response: I would have to agree with Connor. He stated, "The successful business people should not be responsible for making the government seem as though they are putting all this money into taking care of every person by collecting ridiculous taxes, and imposing ridiculous laws. I think it is wrong how the government is using hard working people and, their money to try and, persuade people in society to think that it is money coming out of their pockets to help others.

missy! said...

After the Civil war, the reconstruction period left America in The Gilded Age. Social Darwinism thrived as well as the belief in Laissez-Faire, leading to a seesaw like effect on people in America. It was either that you were extremely rich, or extremely poor. You either had people working for you as you gained lots of money, or you worked in a factory for very little pay. Buring an interviw with Brian Williams of NBC, Barak Obama said, "...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." Barak meant that what was happening during The Gilded Age is happening now. Many Americans get either high wages or low wages, with little grey area. As Conor stated, it is not true. History is certainly not repeating itself. There are many middle class Americans who are not struggling and are not considered poor, as well as poor and rich citizens. The idea of Laissez-Faire still is carried out today as large corporations have rose to the top because of the hard work that has been done to get them there. Corporations do have alot of power in America, currently, but they do not have too much power. The government should always regulate the economy, but in a very suddle way. If a crisis comes along, for example, The Great Depression, the government should definately fulyl step in to help the country. Yet, by suddly regulating the economy, the country wouldn't have to worry about getting into another depression.
-melissa coughlin

Ricka said...

Cherricka

The Gilded Age was the growth of economic and industrialization after the civil war. Therefore, in my opinion, we are living in the second Gilded Age. Everyone today want to be rich. Everyone wants to live the american dream, but how you get there is the question? In order to obtain greatness you have to work for it. Yes, we all want money, we all want to grow up and be billionaires, but it's not going to happen with out hard work and commitment. The reason I feel we are living another Gilded Age is because today the richer will only become richer, and the poor will beome pooer. i hate to say poor, so I'll use middle class. Today middle class americans work hard for what they have. Most have to support a family, pay bills, and much more. After they've done all that they're left with basically nothing. Then there's the rich. They give to all the oraganizations, the buy the most expensive house, they walk around in the best clothes, yet they still have a bundle in their pockets. The Gilded Age clearly back today. The rich buy everything they want and become richer and the middle class stays the same, or they fall. Abraham Lincoln predicted that in the near future money will corrupt America. Sadly, his prediction is now a reality. In the interview Barak Obhama and Brian Williams engage in a conversation discussing America's money hungry issue. I agree with Ama and Obhama, Americans are very materialistic. They struggle, yet they still want the finer things in life. Who don't, but sometimes we have to think about what is most important. Today corporations have way too much power. They are just like all the other rich people. They're making all this money, while the rest of us sit here struggle.

Ricka said...

Cherricka

The Gilded Age was the growth of economic and industrialization after the civil war. Therefore, in my opinion, we are living in the second Gilded Age. Everyone today want to be rich. Everyone wants to live the american dream, but how you get there is the question? In order to obtain greatness you have to work for it. Yes, we all want money, we all want to grow up and be billionaires, but it's not going to happen with out hard work and commitment. The reason I feel we are living another Gilded Age is because today the richer will only become richer, and the poor will beome pooer. i hate to say poor, so I'll use middle class. Today middle class americans work hard for what they have. Most have to support a family, pay bills, and much more. After they've done all that they're left with basically nothing. Then there's the rich. They give to all the oraganizations, the buy the most expensive house, they walk around in the best clothes, yet they still have a bundle in their pockets. The Gilded Age clearly back today. The rich buy everything they want and become richer and the middle class stays the same, or they fall. Abraham Lincoln predicted that in the near future money will corrupt America. Sadly, his prediction is now a reality. In the interview Barak Obhama and Brian Williams engage in a conversation discussing America's money hungry issue. I agree with Ama and Obhama, Americans are very materialistic. They struggle, yet they still want the finer things in life. Who don't, but sometimes we have to think about what is most important. Today corporations have way too much power. They are just like all the other rich people. They're making all this money, while the rest of us sit here struggle.

Miss. Francis said...

Tiffany - G: Thoughtful and informed

Ama- S+ You made an effort to create an in-depth reflection on the era but it seems like you're struggling with some key economic understandings. For example, is it possible for an economy to relax and have an increase in trade regulations? What precisely do you mean?

Ashley - N+ your blog posting is less than 200 words and doesn't include a peer response. You may add to it for a higher grade.

Kadijat- G+: You raise a number of interesting questions and attempt to incorporate several historic economic perspectives. In some areas, I feel you could have backed up serious assertions (how is the market system "rigged?")

Ciara - S - : Your post was interesting but fell short of the word requirement and didn't include a response to a classmate's post.

Connor- E: Analytical and well supported post. I'm curious if you would agree with the Social Darwinist perspective that health issues among the poor and public education for the masses are also a burden on the middle and wealthy classes?

Shaun Q- G: The post is accurate and meets standards for "good" work, but I am left wanting to know your specific position on the government intervening on any level when it comes to the economy.

Thomas - S-: You were off to a detailed and accurate start but neglected to respons to the work of one of your classmates.

Karmilla -G

Matt - G

Yasmeen -G

Melissa- E-

jANELL♥ said...

Janell McBean.
F-Block

Throughout the article, I feel as though Melissa is 100% correct when she states, "You either had people working for you as you gained lots of money, or you worked in a factory for very little pay. Buring an interviw with Brian Williams of NBC, Barak Obama said, "...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." So, in my opinion we are still today living in the Gilded Age. The Gilded Age was know to be "a period in time that reflected industrialization." Therefore, I strongly agree with Conor when he disagrees with Tiffany and Teresa since they believed that "the government should be taking responsibility in evenly distributing wealth to everyone" because it is very true that individuals should be striving to make their own living and to not have to count on the government, anything or anyone to make it for them. Life actually seems to be all about the Gilded Age, there is no doubt about it either. This went to both the rich and the poor, no matter what class you are in, you should be able to at least support yourself and/or your family. Ciara, Ama and Tiffany were correct in my opinion on how the government should become involved in making the difference in the economy smaller. Life would be a bit better in general for almost everyone.

samanzie said...

Saman Mahmood
F block
2/4/08



Blog post #1: In the interview with Presidential Candidate Barak Obama, there were many these that I disagree with. I agree with Yazzy a lot, people need to work for there own success, and not wait for the government to hand there career to them. That�s will the government more controls over us, then they all ready have. The Gilded Age (1865-1900) was the period of economic growth and industrialization after the Civil War. Many individuals became rich quick, and I believe that saying� when the rich get richer the poor get poorer� was very true during the gilded age. Many big names were made during the Glided age, like Rocker fell for oil and Carnegie for steel. These people were mostly at the time only concern with them selves. I don�t at believe us living in the guilded age, because our government is a lot more advanced since then, and there are checks and balances. I don�t at believe us living in the guilded age, because our government is a lot more advanced since then, and there are checks and balances. Our government wouldn�t just let one person get super rich, and that would leave many ours poor. I strongly believe that wouldn�t happen. Corporation in our modern society I really don�t think have too much power, and there power can be controlled. I don�t think the government should get into economy, I believe the only time the government is need in our economy, is when it�s going to fall.
sorry i'm late :)

jANELL♥ said...

Mrs. Francis; I cant find blog number two anywhere. Did you put it up somewhere else?