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aivan3 [116]
4 years ago
13

How did the Robber Baron's and the industry they created reflect the image of the Gilded age?

Advanced Placement (AP)
1 answer:
ioda4 years ago
3 0

Answer:

The Gilded Age was a period in American history In which a chunk of its citizens were made wealthy . This gave rise to the people called the robber barons who became wealthy as a result of their monopoly on some sectors of the economy and became an integral part of society. Some examples of robber barons include John D. Rockefeller, Andrew Carnegie, and JP Morgan.

They were known to live a very lavish lifestyle due to their fortunes.

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Market Economy economies can make up a mixed economy

mixed economy is variously defined as an economic system blending elements of market economies with elements of planned economies, free markets with state interventionism, or private enterprise with public enterprise.[1] There is not only one definition of a mixed economy,[2] but rather two major definitions recognized for a "mixed economy". The first of these definitions refers to a mixture of markets with state interventionism, referring to capitalist market economies with strong regulatory oversight, interventionist policies and governmental provision of public services. The second definition is apolitical in nature and strictly refers to an economy containing a mixture of private enterprise with public enterprise.[3]

In most cases and particularly with reference to Western economies, a mixed economy refers to a capitalist economy characterized by the predominance of private ownership of the means of production with profit-seeking enterprise and the accumulation of capital as its fundamental driving force. In this system, markets are subject to varying degrees of regulatory control and governments wield indirect macroeconomic influence through fiscal and monetary policies designed to counteract capitalism’s history of boom/bust cycles, unemployment and income disparities. In this framework, varying degrees of public utilities and essential services are under public ownership and state activity is often limited to providing public goods and universal civic requirements like healthcare, physical infrastructure and management of public lands.[4][5]

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3 years ago
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