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How Did Industrialization Change The American Economy

225 Words1 Pages
The American economy transformed dramatically during the time period of 1870-1900. The transformation started when big businesses expanded, the expansion in agriculture, and growth in the industrial sector. Industrialization dramatically changed the United States society forming new groups of wealthy entrepreneurs and an impoverished working class. The wealthy became rich through monopolies, fraud, and corruption while the working class depended on low wages that would not provide for their families. Henry Demarest Lloyd wrote, “Power is stealing from the many to the few.” The wealthy thought the poor were poor because they put themselves in that position when actually they were never given the opportunity to be successful in society.
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