How Did The Progressive Era Affect The Economy

Many economic and social changes transformed American society in the 20th century, including innovations in science and technology, and economic productivity. In turn people believed that the government should create political, social, and moral reforms to regulate big business and the other colonial problems. The progressive movement was caused by a renewed interest in social issues and the revival of the ideals on which America was founded. Big businessmen had created empires of wealth, owning vast majorities of businesses. This only allowed enough space for the rich to get richer and the poor to get poorer, but the Progressive Era brought dramatic changes to the nation’s economic, and political sectors. The Progressive Era was made of

Unlike McKinley, who was a supporter of monopolistic business, President Roosevelt began trust busting. With the passing of the Sherman Antitrust act, the monopolies had to dissolve their companies into many smaller ones where they could not hold all the shares. He was famous for trust busting companies owned by John D. Rockefeller and J.P Morgan. He believed that the president should be the mediator between conflicting economic forces in the nation, especially between capital and labor forces. He promised to fight for the people and dispense favors to none. He also got the United States more involved in affairs around the world. He is the reason we are so involved in other countries business today. He thought we should help out other countries by exporting our values and ideals out to them; he wanted us to have a defense against countries who prey on the weakness of others. One of his most famous foreign policies is the Roosevelt Corollary. The Roosevelt Corollary was an extension of the Monroe Doctrine that said the U.S would intervene in any Latin American country that manifested serious economic problems. He also made many reforms in the labor area. He stopped the widespread labor strikes against big business and passed the Meat Inspection Act of 1906 and The Pure Food and Drug Act. These acts banned foods with misleading labors or harmful

He served two terms in office, and had a very busy presidency. He is regarded as one of the top ten presidents. 3 major pieces of legislation he passed through congress were the Underwood Act, Federal Reserve Act, and the establishment of the Federal Trade Commission. These acts graduating income tac, gave the government a more elastic supply of money, and prohibited unfair business practices. He also introduced child labor laws and created the 8 hour work day. Not only did he fight for order in America, but all around the world. He tried to remain neutral during WWI, but when the German U-boats began threatening American interests, he called congress to also declare war on Germany in 1917. He publicly let his war goals be known in hos famous 14 points. To sum up all his 14 points, they were the basis for a world peace program. These 14 points are the reason Germany and her allies agreed to armistice in 1918. He shaped the way we handle international and labor conflicts