Industrialization during the gilded era had some economic advantages. It gave rise to new
industries such as steel, oil, railroads, and banking. This however led to monopolies in these
industries with some well-known individuals such as John D Rockefeller, JP Morgan, and
Andrew Carnegie. They benefited from this industry greatly and carried on having great
generational wealth for their families and descendants. They helped with some technological
advantages such as the railroads, steel, etc, which helped boost the economy as they made a lot
of profit from this. However since these were monopolistic companies this meant that they were
dominating their specific industries, which meant no other individual or company could come in
and do the same thing. Some disadvantages during the gilded era were the fact that they used
cheap labor which included immigrant’s, women, and children. This benefited only the
companies and the wealthy since they were able to keep wages low yet make great profits. These
individuals faced long work hours and unsafe working conditions. Since child labor was still
present children were working dangerous jobs therefore, they were unable to go to school and get
an education. There was also poor living conditions since people couldn't afford to live anywhere
else, this also included immigrants coming into the country, trying to survive and make a living.
Even though industrialization helped create modern America and had its economic benefits there
were many people who had to suffer and had their labor exploited to get to where we are today
as well as a great wealth inequality that is still prevalent today. This led to individuals warning
labor protection and eventually became what we know now as labor unions.