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Test: AP US History
The years following the Civil War were times of change in American society and economy. Factories that were built to help supply the Union Army, were converted to peacetime use. Industrialization soon surpassed agriculture as America’s economic core. New technology developed during this time and contributed to the doubling of America’s economy. Industry was controlled by a few individuals holding top level positions and earning vast fortunes. This time in America’s history is called the Gilded Age. The name comes from the title of a novel written by Mark Twain. It refers to the massive fortunes amassed by businessmen and the wealthy lifestyle it supported. The leaders of this new economy were labelled “Captains of Industry,” “Moguls,” and “Robber Barons” because there were few laws at the time to regulate industry and the manner in which these industrialists earned and used their capital. These nicknames accurately represented the harsh, unethical, and exploitative practices of these industrialists. The sky was the limit for these individuals who were ruthless in their business dealings.
| 1. | What was the reason for the ruthless business tactics of the “Robber Barons”? |
The belief that a healthy business community was the best path to an egalitarian society.
Labor unions were forming and there was a need to be a strong businessman to survive union demands.
The retail businesses were demanding a share of the profits of the industrial goods they sold.
Competition was fierce to produce the best product inexpensively priced.
To meet the demand of international trade, businessmen had to be strong.
