Gilded Age - Wikipedia
In United States history, the Gilded Age is described as the period from about the late 1870s to the late 1890s, which occurred between the Reconstruction Era and the Progressive Era. It was named by 1920s historians after an 1873 Mark Twain novel. Historians saw late 19th-century economic expansion as a time of materialistic excesses marked by widespread political corruption.
It was a time of rapid economic growth, especially in the Northern and Western United States. As American wages grew much higher than those in Europe, especially for skilled workers, and industrialization demanded an increasingly skilled labor force, the period saw an influx of millions of European immigrants. The rapid expansion of industrialization led to real wage growth of 40% from 1860 to 1890 and spread across the increasing labor force. The average annual wage per industrial worker (including men, women, and children) rose from $380 in 1880 ($11,998 in 2023 dollars[ 1] ) to $584 in 1890 ($19,126 in 2023 dollars[ 1] ), a gain of 59%.[ 2] The Gilded Age was also an era of poverty,[ 3] [ 4] especially in the South, and growing inequality, as millions of immigrants poured into the United States, and the high concentration of wealth became more visible and contentious.[ 5]
Railroads were the major growth industry, with the factory system, oil, mining, and finance increasing in importance. Immigration from Europe and the Eastern United States led to the rapid growth of the West based on farming, ranching, and mining. Labor unions became increasingly important in the rapidly growing industrial cities. Two major nationwide depressions—the Panic of 1873 and the Panic of 1893—interrupted growth and caused social and political upheavals.
