Laissez-Faire In The Gilded Age

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During the late nineteenth century, America deemed to be thriving. However, with the government’s laissez-faire attitude with dealing with the issues of the economy, and the demand for railways increased, the United States underwent an economic transformation marked by the maturing of the industrial economy. Therefore, a shift of power was indicated from agrarian to commercial interests and rapid extension big businesses. Technological innovations fueled the economic growth in America. During the Gilded Age, the automobile was invented for operation on ordinary roads and having the typical four wheels, need for gasoline and an engine. It replaced the railroad industry as the key advocate of economic growth and led to a huge demand for gasoline …show more content…
However, part of the argument was based off of morals. A quote from Andrew Carnegie states,”“In the long run wealth only comes to the moral man”—material prosperity makes the nation “sweeter, more joyous, more unselfish, more Christ like.” Laissez promoters argued that government interference complicated the natural and just forces of the economy. In the article Economy in the Gilded Age, it states,“Government intervention was considered tantamount to "class legislation"—an unjust and artificial reallocation of economic resources and power from one group to another.” Therefore, based off of people’s opinions and so-called morals, agriculture began to deteriorate as the majority began to realize that industrialization/urbanization was the way to make money, find jobs and begin to give more to their families. The government no longer had power in these decisions, but the elites, such as Rockefeller, Carnegie and Morgan had the power to the economy. They had the key to politics, social reforms and economic

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