22. What is your understanding of the term “Gilded Age”?

Answer 1

The Gilded Age refers to a period in American history, specifically from the late 19th century to the early 20th century (approximately 1870-1900). It was characterized by rapid industrialization, economic growth, and technological advancements, but also by significant income inequality and social issues. The term "gilded" suggests that while the era appeared prosperous and successful on the outside, it masked underlying problems and corruption beneath its surface. During this period, wealthy industrialists and entrepreneurs amassed large fortunes, creating a stark contrast between the extremely wealthy upper class and the struggling working class. It was a time of immense competition, laissez-faire capitalism, and significant political and social changes in American society.