Asked by Chuck Bass
What were two effects of industry and business on American society in the Gilded Age?
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1) Concentration of wealth and corporate power — rapid industrialization produced giant corporations and trusts (railroads, oil, steel) that amassed huge fortunes and dominated markets. This led to sharp economic inequality, growing political influence by business leaders (political corruption, patronage), and eventually public pressure for regulation (e.g., the Sherman Antitrust Act of 1890).
2) Urbanization and changes in the labor force — factories drew millions into cities and into wage labor, producing crowded tenements, unsafe working conditions, and low pay for many immigrants and native-born workers. Those conditions spurred the rise of labor organization and strikes (Knights of Labor, AFL, Homestead and Pullman strikes) and reforms aimed at working conditions and living standards.
2) Urbanization and changes in the labor force — factories drew millions into cities and into wage labor, producing crowded tenements, unsafe working conditions, and low pay for many immigrants and native-born workers. Those conditions spurred the rise of labor organization and strikes (Knights of Labor, AFL, Homestead and Pullman strikes) and reforms aimed at working conditions and living standards.
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