America was left with an enormous problem after the civil war, thousands of unskilled people. But, through strategic decisions this would lead to tremendous industrial growth. Industrialization grew rapidly during the period of 1860-1900 as a result of a verity of factors .Technological advancements, monopolies, and political assistance would all contribute in making America one of the leading global powers.
After World War Two, American Military and economy development very fast, and then become to a super power country in the world. American began to join World
Economic development, not geographical expansion, was the key to American’s
The United States began to enter a prosperous and increasing period after the civil war known as industrialization. Despite the fact that industrialization led the United States to wealth, it also led it to many social and economic problems during the late 19th and early 20th centuries. During this time, Upton Sinclair and Andrew Carnegie were the people who responded to the economic and social problems generated by industrialization. Andrew Carnegie was one of the wealthy men in America and was very charitable, he impacted the United States with his steel to transform cities. During these economic and social problems generated by industrialization, he responded by providing money to fund charities.
The change grew out from the North to the South. The War of 1812 was a pivotal part during this time which made South realize the potential of Industrial Revolution. This increase in labor and industry brought United States to a new picture for economy and commerce, also marking the start of United States global increase in power and
This adjustment in the economy brought about the Market Revolution, which in turn had its own way of revolutionizing America. The
The United States’ economy changed a lot over time, and for different reasons. One of them was America’s growing dependance on other countries. Durning the 20th century, the World Trade Organization was founded. This allowed countries to trade with each other in more ways than before. Standardized containers and free trade played a large part in the advancement of world trade.
After the Civil War, the United States experienced many events in terms of economy, culture and social, and those events made a big change to the U.S. One of the richest person in the world, “Andrew Carnegie”, who is also known as the civil leader, built the steel mill by 1900. While, most of the firms were working by themselves or family at that time, he was good at vertical integration. Including him, thanks to the genius and rich inventors, the concept of social and economy of U.S. had changed. On the contrary, because these rich people had most of the finance, the number of people who were under the lower-class had been increasing.
The Market Revolution generated a drastic change in the United States economy and altered gender barriers while at the same time accomplishing this in a provocative manner. This economic boom occurred around the first half of the 19th Century. The economic boom was achieved by inventions such as a transcontinental railroad system which resulted in a better transportation system which improved trade and the cotton gin which sped up the rate of removing seeds from cotton fiber. However like what the great Hugo said, “The brutalities of progress are called revolutions. When they are over we realize this: that the human race has been roughly handled, but that it has advanced”.
But after the civil war there were many changes which took place in United States and their wealth also increased. After World War II, the United States emerged as economically stable and prosperous country. American companies were growing rapidly and both major parties of World War II were committed for making Economic reforms and keep unemployment low. Therefore the United States led a system was developed called as Bretton Woods system to equally divide the share between the nations. The US dollar was made common currency for trade which made the United States a global leader and it was advantage for United States companies to do trade in their national currency.
The political and social injustices that were present in the Gilded Age inspired several reformists to change society through social changes and reforms. These activists sought to reform against political corruption, labor conditions, women's suffrage, and ideologies. Most of these reforms helped to improve the social issues of America's corrupt society. For instance, many people of the middle class were against the theory of Social Darwinism, the idea that some people were genetically predisposed to be better than others through natural selection and that the government shouldn't be involved in private businesses or free-markets (laissez-faire). Reform Darwinists believed that the government should be able to interfere with private businesses
City life was not the best. Cities were usually overcrowded, most immigrants lived in tenement housing. But soon urbanization picked up, and it got better, when neighborhoods formed, and people could breathe better with more space. America 's economy was and still is described as capitalism. And with the invention of the light bulb, the assembly line by Henry Ford, and the automobile, Mass production was able to support the rising economy of the U.S.
Economically the U.S. had made advances in technology and began to get oversea territories. Culturally they had used the
Capitalism appeared earlier than socialism. In Europe, capitalism has experienced rapid growth. Between A.D. 1250 and 1350, these is an international trade route from northwestern Europe to China, in my opinion, I think this trade route increased communication between different regions and developed the European commodity economy. However, it also laid the foundation for imperialism. With the development of capitalism, some problems have also emerged.
Capitalism has to do with competition and each private owner controls the selling, they want to gain a profit, and government can’t interfere. The US is a mixed economy because government and privately owned businesses are involved equally instead of one more than the other. What Adam Smith meant by “the invisible hand” of laissez-faire economy is that free markets and capitalism are guided by competition. Free market ensures the well being of society because then there are multiple ways to create value for stakeholders. This is important because when their needs are met, businesses tend to be successful.
