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as a result of the implementation of neoliberalism and contemporary market fundamentalism 2 many authors draw comparisons between the obscene fortunes of gilded age figures such as william randolph hearst and second gilded age figures such as elon musk both men who took control of media empires to push political agendas where hearst took control of newspapers musk took control of the platform formerly known as twitter hearst and musk have both been criticized for using their newly acquired empires to spread misinformation and antisemitism 5 politics edit business and technology decabillionaires attend a dinner hosted by donald trump and melania trump in the state dining room of the white house on september 4 2025 the gilded age was a time of rampant political corruption and many authors liken it to the corruption of the modern day bailout billionaires have been accused of purchasing politicians and using dark money and super pacs to buy elections 1 in his farewell address u s president joe biden warned that an emerging american oligarchy and tech industrial complex posed risks to america in what politico described as echoing roosevelt s language in calling out the robber barons of a new dystopian gilded age 6 7 these comments were made in the context of several tech billionaires who made large donations to the 2024 presidential campaign of donald trump and his second inauguration it also came during surging stock prices of the magnificent seven a group of tech companies whose combined value rose 46 in 2024 vastly beating the s p 500 share index 8 civil rights edit some authors have pointed out similarities between the loss of civil rights after the reconstruction era and the stripping of civil rights in the modern day the supreme court gutted the civil rights act of 1866 in 1883 just as it gutted sections of the voting rights act of 1965 in 2013 in both cases helping to undermine black americans of the right to vote while the legal discrimination of jim crow has been overturned still today a de facto racist criminal justice system overlooks or enables police racial discrimination 1 in 2025 president donald trump ended federal diversity equity and inclusion programs 9 xenophobia continued to gain legal protections in the first gilded age finally culminating in the chinese exclusion act in 1882 fully banning immigration from most of east and south asia until being overturned during the civil rights era this approach has been compared to obama trump and biden era policies on immigration through the us mexico border such as remain in mexico trump further instituted travel bans from 15 countries until they were revoked by biden 1 trump s second administration has overseen mass deportations 10 while the supreme court ruled that immigration agents in california could continue to stop and detain people based on characteristics such as race language spoken and occupation 11 public response edit according to the new hampshire gazette the response from more radical elements of the general public to the excesses of the first gilded age are similar to what is emerging in the second gilded age with the killing of brian thompson in particular the anarchist tradition of propaganda of the deed 12 by contrast labor historian steve fraser emphasized in his 2015 book the age of acquiescence that there has been a marked decline in political resistance during the second gilded age in a new york times review of fraser s book naomi klein summarizes the author s thesis what fueled the resistance to the first gilded age fraser argues was the fact that many americans had a recent memory of a different kind of economic system whether in america or back in europe many at the forefront of the resistance were actively fighting to protect a way of life whether it was the family farm that was being lost to predatory creditors or small scale artisanal businesses being wiped out by industrial capitalism having known something different from their grim present they were capable of imagining and fighting for a radically better future it is this imaginative capacity that is missing from our second gilded age 13 debate and discourse edit some authors argue that the second gilded age is misnamed and that these comparisons are unfounded or only surface level 1 the first gilded age coincided with america s second industrial revolution as america moved from the use of coal to being powered by oil thanks in large part to the efforts of captains of industry such as john d rockefeller and henry ford some authors have argued that the second gilded age remains a time of deindustrialization as working class wages continue to fall and workers turn to the gig economy 1 historian julie greene argues that while the first gilded age and second gilded age share certain important characteristics these are profoundly different historical moments 3 she says that while during the first gilded age there were serious attempts to mitigate the worst excesses of the new industrial capitalism of the time the second gilded age has seen almost the exact opposite as capitalists and their ideological and political supporters push to see how far they can go to ensure the unchallenged hegemony of corporate and property rights 3 she attributes this to several factors including the neoliberal era starting in the 1970s the collapse of the soviet union and the reform and opening up in china greene argues that the soviet collapse and chinese liberalization represented the collapse of the two biggest alternatives to capitalism in turn this made it easier for employers to allow fundamental rights to disappear as workers no longer felt that they had real alternatives she concludes ultimately that the slow climb toward a more humane capitalism and the rapid descent away from it constitute two very different experiences 3 see also edit atari democrat big tech democratic backsliding in the united states epstein class neoliberalism in the united states reaganomics second cold war trillionaires wealth inequality in the united states references edit 1 2 3 4 5 6 7 huyssen david april 1 2019 we won t get out of the second gilded age the way we got out of the first vox vox media retrieved july 11 2024 1 2 giroux henry a 24 april 2008 beyond the biopolitics of disposability rethinking neoliberalism in the new gilded age social identities 14 5 587 620 doi 10 1080 13504630802343432 1 2 3 4 5 greene julie april 2020 bookends to a gentler capitalism complicating the notion of first and second gilded ages the journal of the gilded age and progressive era 19 2 cambridge university press 197 205 doi 10 1017 s1537781419000628 berger chloe october 24 2024 we are essentially in a new gilded age as workers get laid off ceos and shareholders gobble up hundreds of billions in profits fortune retrieved october 27 2024 elon musk and oligarchs of the second gilded age can both sway public exploit their data ohio capital journal states newsroom april 29 2022 retrieved july 11 2024 wren adam january 16 2025 playbook the tech industrial complex comes to washington politico retrieved january 16 2025 watson kathryn january 15 2025 in final address biden warns of rise of tech industrial complex while outlining threats challenges cbs news archived from the original on january 16 2025 retrieved january 15 2025 holland steve sing kanishka january 16 2025 biden takes aim at tech industrial complex echoing eisenhower reuters retrieved january 16 2025 trump s executive orders on diversity equity and inclusion explained the leadership conference on civil and human rights retrieved 2025 09 29 new milestone over 2 million illegal aliens out of the united states in less than 250 days homeland security www dhs gov retrieved 2025 09 29 ryan erika 2025 09 13 the supreme court clears the way for ice agents to treat race as grounds for immigration stops npr retrieved 2025 09 29 the gilded age returns complete with propaganda of the deed the new hampshire gazette december 27 2024 retrieved january 27 2025 any 19th century anarchist would immediately recognize brian thompson s killing as a case of what s called propaganda of the deed these were violent acts meant to show the broader public that while the prevailing political and economic systems might have been powerful and omnipresent they were not omnipotent klein naomi march 16 2015 the age of acquiescence by steve fraser the new york times further reading edit we need class politics to end our second gilded age jacobin interview with matt karp june 11 2021 we re not in a new gilded age in america inequality is now far worse the guardian september 21 2026 v t e united states history by period 1776 1789 1789 1815 1815 1849 1849 1865 1865 1917 1917 1945 1945 1964 1964 1980 1980 1991 1991 2016 2016 present by event pre colonial era colonial era stamp act congress thirteen colonies continental congress continental association united colonies military history founding fathers halifax resolves lee 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