Introduction
Each stage of economic history has its peculiarities since, at different times, people have other problems that change the economy in one direction or another. There was such a stage as the Golden Age, which at first glance was remarkable, but corruption prevailed in the political system, which hindered normal economic development. The period of the Gilded Age, which was characterized by many strikes, illegal immigration, and inequality (Corbett et al.). The economy’s current location has taken something from the Golden age and the Gilded one. Even though modernity has some similarities with the Gilded Age in the field of politics, there are still differences between these eras.
Similarities
Just as in modern times, during the Gilded Age, the economy was characterized as fast-growing, agriculture flourished, and new factories appeared. As of now, during the Gilded Age, rich people had exorbitantly large capitals and belonged either to one ruling party or to another. As in modern times, in the era of the Gilded Age, many people went to the United States to look for work and a good life. In addition to these similarities, there are differences between the two stages of life of the US population.
Differences
The differences between modern times and the Gilded Age are that previously the state did not interfere in market relations. Now the policy is structured so that every aspect of the market is subjected to careful analysis and adjustment. In the Gilded Age, vast territories in the west were developed, rich in fertile lands and raw materials such as coal, oil, and others. In modern times, this is practically impossible since the lands belong to one or another state and everything hidden in these areas belong to this state. Previously, US policy allowed for the active use of labor, that is, slavery, but now it is strictly prohibited and no longer has a place to exist.
Conclusion
In conclusion, the Gilded Age was a particular stage in the history of the United States, which was characterized by cheap labor, the prosperity of the economy and the development of market relations. At the present stage, it can be noted that the economy has become more complex, as many branches of the economy have begun to appear, but which are still under the control of the state. Each stage of history is good and evil in its way, and time will tell what the US economy will be like later.
Work Cited
Corbett, Scott, Janssen, Volker, Lund, John, Pfannestiel, Todd, Waskiewicz, Sylvie and Paul Vickery. U.S. History. OpenStax, 2014.