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the end of the gilded age coincided with the panic of 1893, a deep depression, which lasted until 1897 and marked a major political realignment in the election of 1896. this productive but divisive era was followed by the progressive era.

most people now work in jobs where they do one  kind  of work; they are carpenters, bankers, cooks, mechanics, and so forth. likewise, most  businesses produce  only certainkinds  of  goods  or  services, such as cars, tacos, or gardening  services. this feature of  production  is known as specialization.