HIS271Y1 Study Guide - Final Guide: Immigration Restriction League, Sherman Antitrust Act, Gilded Age
Document Summary
called the gilded age because what may appear to be beautiful from the outside is not necessarily beautiful on the inside. beyond the golden exterior of growth, the interior was ripe with inequality, poverty, and social decay. modern corporation: efficiency (scientific management, divisions of tasks and workplace hierarchies, new management techniques (middle-management between the workers and owners, consolidation (horizontal integration and vertical integration) Sherman anti-trust act in 1890, which outlawed t rusts and monopolies: example of the ways in which consolidation had resulted in the formation of huge corporations by the end of the 19th century. Ideology behind the myth: there were several key ideologies circulating during this age to justify this cutthroat capitalism, deep-seated belief in individualism and equal-access to opportunity. supporters of big business argued that anyone who was willing to work hard had the same chance to gain success as anyone else: gospel of wealth.
