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L3: Seeds of Discontent – Wealth and Inequality in the Gilded Age01/23/2015°outlinethe bright side: the second industrial revolution approaches maturitythe US and global centers and peripheriesthe dark side: socioeconomic tension and reform in the gilded agemaladies of overproduction and the search for a cureconclusions°°the bright side: the second industrial revolution approaches maturity:growing hemispheric predominancegovernment policy and private financeoinvestment banking and stock exchangesofederal loansothe 14thamendment and corporationsindustrial diversification and integrationocoal power and electricity orailroads, telegraphs, and telephoneslaissez – faireohands offdisposable income and consumer cultureKodak camera Revolutionary communication; or , radio shack and portable phones 1987 and 1990oBegin to be movers and shakersThe bad newsoTime period in which leaders subscribe to a gold standard money policyoResult = expansion in production in countryoPrices are falling To point where companies can’t make moneyHow to stop potential gluts in consumption?°The US and Global Centers and Peripheries The growth of the US economy in a global contextoNearing parity with EuropeoShifts from lighter to heavier industriesHow to lock in the periphery to serve US needs?
Grover ClevelandoAgainst tariffsoDemocratUS economy is growing to challenge European powers of timeIdea of new urgency of how US works on world stage socioeconomicallyoWant to become equal then greater than other nations during this time periodChina MarketoKey conduit for access and growth of US economy oHuge populationHierarchies of Race and CivilizationoObsession with what might happen – US racial stock becomes worse if too much mixing with other nations and peoplesoPhrenology obsessionMeasuring head and noses etc. Link to intelligenceoGetting towards this watershedPermanent engagement in world for US that hadn’t been the case earlierExampleoDemocracy in AmericaoPredicted Russia and USA as next two great powers 1890 oUSA had 13thlargest navy in worldNow it’s larger than rest of world combined1892 ocalled for abolishing state department oforeigners in other parts of the world why do we need to go over there?oXenophobiaSocioeconomic tension and reform in gilded ageClass and social implications industrializationoNon whites and non protestant immigrationoRacism and xenophobiaThe boom and bust cycle intensifiesSocial tension in the cities and countrysideoLabor strikesoThe grange and the populistsEra of unrestrained immigrationoIncreasingly non white parts of world
oRacial makeup or “stock”Pre civil war = English, mid western, IrishIrish = “scum of earth” but needed to workShift = after civil war = NW European stock dips and we get more southeastern Europeans (Italy, Hungary, etc.)