which brings me to this new book on the gilded age then and know by historian steve frazier.is title, the age of acquiescence will be publisheder in year. he's a scholar of american history who shuttles among the centuries comparing our past to our steve frazier, welcome. >> thank you very much for having me. >> it's become something of a cliche to say that we're living in the second gilded age. are we? >> yeah. i think we are living in the second gilded age. it's similar to what went on in the first gilded age. >> give me a working everyday definition of the description of first gilded age. >> okay, the first gilded age was given over to very conspicuous displays of wealth. it was a corrupt age, profoundly corrupt. when mark twain writes "the gilded age" that's what he's talking about, crony capitalism the kind that we are all too familiar with in our own times. it was also known for extreme inequality. great gulfs in the wealth. >> people at the bottom were paying the price for it. >> the people were paying the price. it wasn't nearly that poverty live alongside great wealt