The current period of U.S. economic growth parallels the “Gilded Age” in a number of ways, says Richard Lowry of National Review. The Gilded Age is the period roughly from 1870 to 1912, when America saw runaway economic growth.
One parallel is that prominent businessmen, such as Bill Gates of Microsoft, are being cast as modern-day “robber barons.” We should be so lucky, since thanks to the alleged robber barons, new technologies led to declining prices and productivity-driven growth.
The low prices helped energise the entire economy, and economic growth helped lower inflation.
Source: Richard Lowry, “TR and His Fan,” National Review, February 7, 2000.
For more on Economic Growth http://www.ncpa.org/pd/economy/econ4.html
