L3 Seeds of Discontent Wealth and Inequality in the Gilded Age 01232015 outline

L3 seeds of discontent wealth and inequality in the

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L3: Seeds of Discontent – Wealth and Inequality in the Gilded Age 01/23/2015 ° outline the bright side: the second industrial revolution approaches maturity the US and global centers and peripheries the dark side: socioeconomic tension and reform in the gilded age maladies of overproduction and the search for a cure conclusions ° ° the bright side: the second industrial revolution approaches maturity: growing hemispheric predominance government policy and private finance o investment banking and stock exchanges o federal loans o the 14 th amendment and corporations industrial diversification and integration o coal power and electricity o railroads, telegraphs, and telephones laissez – faire o hands off disposable income and consumer culture Kodak camera Revolutionary communication; or , radio shack and portable phones 1987 and 1990 o Begin to be movers and shakers The bad news o Time period in which leaders subscribe to a gold standard money policy o Result = expansion in production in country o Prices are falling To point where companies can’t make money How to stop potential gluts in consumption? ° The US and Global Centers and Peripheries The growth of the US economy in a global context o Nearing parity with Europe o Shifts from lighter to heavier industries How to lock in the periphery to serve US needs?
Grover Cleveland o Against tariffs o Democrat US economy is growing to challenge European powers of time Idea of new urgency of how US works on world stage socioeconomically o Want to become equal then greater than other nations during this time period China Market o Key conduit for access and growth of US economy o Huge population Hierarchies of Race and Civilization o Obsession with what might happen – US racial stock becomes worse if too much mixing with other nations and peoples o Phrenology obsession Measuring head and noses etc. Link to intelligence o Getting towards this watershed Permanent engagement in world for US that hadn’t been the case earlier Example o Democracy in America o Predicted Russia and USA as next two great powers 1890 o USA had 13 th largest navy in world Now it’s larger than rest of world combined 1892 o called for abolishing state department o foreigners in other parts of the world why do we need to go over there? o Xenophobia Socioeconomic tension and reform in gilded age Class and social implications industrialization o Non whites and non protestant immigration o Racism and xenophobia The boom and bust cycle intensifies Social tension in the cities and countryside o Labor strikes o The grange and the populists Era of unrestrained immigration o Increasingly non white parts of world
o Racial makeup or “stock” Pre civil war = English, mid western, Irish Irish = “scum of earth” but needed to work Shift = after civil war = NW European stock dips and we get more southeastern Europeans (Italy, Hungary, etc.)

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