Final answer:
The term 'Gilded Age' is being used to describe the current state of American society due to increasing wealth inequality and the concentration of wealth among a few wealthy families.
Step-by-step explanation:
The term 'Gilded Age' is being used by some scholars to characterize the current state of American society. They argue that the increasing wealth inequality, where a small number of extremely wealthy families own a disproportionate amount of wealth compared to the rest of the population, mirrors the economic disparities and corruption of the original Gilded Age in the late nineteenth century. For example, the fact that the top 400 wealthiest American families own more wealth than the bottom 150 million Americans combined exemplifies this unequal distribution of wealth.