Final answer:
The industrial situation in the United States during this era was characterized by the dominance of large corporations and concentrated wealth. There were both positive aspects, such as economic growth and higher wages, and negative aspects, such as worker exploitation and income inequality. Urbanization from this era can be compared to today, noting both similarities and differences.
Step-by-step explanation:
The industrial situation in the United States during the era about which Rockefeller is reminiscing was characterized by the dominance of large corporations and the concentration of wealth and power in the hands of a few individuals. This era saw the rise of industrial titans like Carnegie, Rockefeller, and Morgan, who utilized methods such as horizontal and vertical integration, trusts, holding companies, and investment brokerages to build their business empires.
Positive aspects of this era included significant economic growth, low unemployment rates, and high wages. The prosperity of the era led to the development of a growing middle class and an increase in investments in the stock market. However, there were also negative aspects to this era, such as the exploitation of workers, limited opportunities for minority groups, and the concentration of wealth in the hands of a few individuals, which contributed to income inequality.
Comparing urbanization from this era to today, there are both similarities and differences. Like in the past, urbanization today is marked by the movement of people from rural areas to cities in search of job opportunities. However, today's urbanization is shaped by different factors, such as technological advancements, globalization, and changing demographics.