Gilded age, as the name implies that it is a period when the American economy’s growth is masked by urbanization and industrialisation but inherently there were problems like corruption and poverty.
There was extreme modernization due to the European immigrants who started to build factories and steel frame construction was possible at that time. People started to leave country side in search of towns and cities due to mechanization which helped for the swift progress of the economy.
The rich remained and poor lead a petty life as there was an impersonal relationship that existed between the owners and the workers and corruption was at its peak.