What term refers to the period of wealth and lavish lifestyles enjoyed by a few powerful families in the late 19th century?

The Gilded Age is the correct term that refers to the period in the late 19th century characterized by significant economic growth and extreme wealth accumulation among a small number of powerful families and industrialists. This era, spanning approximately from the 1870s to the early 1900s, saw a rapid expansion of industry and railroads, leading to massive fortunes for a few, often at the expense of many workers who endured poor working conditions and low wages.

The term "gilded" implies that this wealth was often just a superficial layer over deeper social issues such as inequality and corruption. It captures the contrast between the ostentatious lifestyles of the wealthy elite and the struggles faced by the lower classes. This societal divide is a hallmark of the Gilded Age, which is essential for understanding the context of American history during this transformative period.

Other periods mentioned, such as Reconstruction and the Progressive Era, focus on different social, political, and economic issues that do not specifically address the opulence and wealth disparity that define the Gilded Age. The Roaring Twenties, while another time of economic prosperity, refers to the 1920s and is marked by different cultural and social developments following World War I. Thus