Editing Long Depression (section)

===New Imperialism===

{{main|New Imperialism}}

The Long Depression arguably contributed to the revival of [[colonialism]] leading to the [[New Imperialism]] period, symbolized by the [[scramble for Africa]], as the western powers sought new markets for their surplus accumulated capital.<ref name="hobsbawm-5">{{cite book|title=The Age of Empire (1875–1914)|author=Eric Hobsbawm|publisher=Vintage Books|location=New York|year=1989|isbn=0-679-72175-4|page=[https://archive.org/details/ageofempire1875100hobs_0/page/45 45]|url=https://archive.org/details/ageofempire1875100hobs_0/page/45}}</ref> According to [[Hannah Arendt]]'s ''[[The Origins of Totalitarianism]]'' (1951), the "unlimited expansion of power" followed the "unlimited expansion of [[capital (economics)|capital]]".<ref name="arendt">{{cite book|title=The Origins of Totalitarianism|author=Hannah Arendt|year=1973|publisher=Houghton Mifflin Harcourt|page=[https://archive.org/details/originsoftotali100aren/page/137 137]|isbn=0-15-670153-7|title-link=The Origins of Totalitarianism|author-link=Hannah Arendt}}</ref>

In the United States, beginning in 1878, the rebuilding, extending, and refinancing of the western railways, commensurate with the wholesale giveaway of water, timber, fish, minerals in what had previously been Indian territory, characterized a rising market.  This led to the expansion of markets and industry, together with the [[robber baron (industrialist)|robber barons]] of railroad owners, which culminated in the genteel 1880s and 1890s. The [[Gilded Age]] was the outcome for the few rich. The cycle repeated itself with the [[Panic of 1893]], another huge market crash.