The Gilded Age Essay

4084 Words Oct 24th, 1999 17 Pages
A successful economy is perhaps the most key ingredient leading to a successful nation. An economy is a delicate balance of many different conflicting and coexisting elements. Naturally, an economy's success can often be measured by the amount of wealth is contains, not to mention the effectiveness or ineffectiveness of its distribution of the wealth. Effective distribution of wealth is no easy feat. Wealthy and poor people will always need to coexist- this is an inescapable truth. The government's job in many cases becomes that of a referee. Naturally, perfect peace and harmony between to totally different classes would be a utopia, and probably will never be completely achieved. A government must, therefore, regulate economy so that one …show more content…
The market model was indeed a gain of the time period and was met by the pursue of individual interest. "These questions lead Smith to a formulation of the laws of the market. What he sought was ‘the invisible hand,' as he called it, whereby ‘the private interests and passions of men' are led in the direction ‘which is most agreeable to the interest of the whole society"(Borg74). Smith's model promoted a much more aggressive economy and individuals sought their own success. The entrepreneur became the icon of society. The new system allowed individuals to exploit opportunity and rise to astronomical heights. However, the new system was not solely based on individual success. Corporations sprung up all over the US, which promoted a constant struggle to compete in the business economy. Corporations were constantly seeking the improvement that would put them over the top, above competition. This cutthroat competition, by its nature left some corporations and individuals in the proverbial dust. The entrepreneurial war of all vs. all had begun. "Both businessmen (Benjamin Franklin Newhall and Benjamin Franklin) experienced the entrepreneurial war of all against all. Both saw merchants sometimes pursue interests different from manufacturers. And both stood committed to the underlying system of private property in the means of production owned and controlled by individuals and small firms who bought and sold commodities (including the time and

Related Documents