Which economic system became prominent during the Gilded Age?

The Gilded Age, spanning from the 1870s to about 1900, was characterized by rapid industrialization and economic growth in the United States. During this period, capitalism emerged as the dominant economic system. This era saw the rise of big businesses, significant technological advancements, and an increase in factory production, which all relied on capitalist principles such as private ownership of production, free markets, and profit motivation.

In the Gilded Age, individuals and corporations amassed wealth and power, often leading to stark economic inequalities. The era was also marked by laissez-faire economics, where the government took a hands-off approach to regulation and intervention in the market. This environment allowed capitalism to flourish, evidenced by the growth of railroads, steel, oil industries, and the emergence of tycoons like John D. Rockefeller and Andrew Carnegie.

In contrast, feudalism and mercantilism represent earlier economic systems that were largely abandoned by the time of the Gilded Age. Socialism, while gaining some traction in public discourse, did not dominate the economic landscape during this time. The significant economic developments and the overall structure of society during the Gilded Age clearly align with the characteristics of capitalism, making it the correct choice.