Why Is The American Industrial Revolution Important

Jake Ott

HIS122- U. S History Since Reconstruction 20579

February 27th, 2023

The Industrial Revolution is an era in history characterized by a significant shift from manual labor to machine-based manufacturing processes. The Industrial Revolution started in England during the 18th century and soon spread to the rest of the world, including the United States. The American Industrial Revolution was characterized by significant technological advancements and the emergence of new industries such as textiles, railroads, and oil.

The American Industrial Revolution was brought about by several factors. One of the main factors was the availability of natural resources. America had abundant natural

These were individuals who amassed significant wealth and power during this era. They were momentous in the development of new industries and the growth of the American economy. Some of the leading captains of industry during the Industrial Revolution in America include Andrew Carnegie, John D. Rockefeller, and J.P. Morgan. Andrew Carnegie was a Scottish-American industrialist who made his fortune in the steel industry. He started as a telegraph messenger boy and worked his way up to become one of the wealthiest men in the world. Carnegie founded the Carnegie Steel Company, the largest steel producer in the world, in the late 19th century. He also donated most of his wealth to philanthropic causes such as the establishment of libraries and educational institutions (Terrell). John D. Rockefeller was an American businessman who made his fortune in the oil industry. He founded the Standard Oil Company, which became the largest oil refiner in the world. Rockefeller was known for his aggressive business tactics, which included undercutting his competitors and forming monopolies (Foner 475). He also became a significant philanthropist, donating millions of dollars to various causes. J.P. Morgan was an American financier and banker who played a significant role in the development of the American economy. He was instrumental in the creation of several large corporations such

One of the main factors was that the Industrial Revolution created an environment that allowed for rapid economic growth, innovation, and technological advancements (Galgano). This led to the emergence of new industries, markets, and opportunities, which entrepreneurial individuals could exploit to build and grow their businesses. Furthermore, the laissez-faire economic policies of the time allowed businesses to operate with minimal government intervention. This allowed entrepreneurs to operate freely, without many of the regulations and restrictions that exist today, giving them greater flexibility to invest in innovative technologies, products, and industries. Another main factor was that individuals often had access to significant capital and financial resources, which they could use to invest in new businesses or buy out their competitors (Galgano). This allowed them to create large-scale businesses that could dominate their markets and gain a significant amount of control and influence. Lastly, these captains of industry were often able to use monopolistic practices, such as vertical integration, to gain control over entire industries. By controlling every aspect of production, from the raw materials to the finished product, they could create a virtual monopoly, allowing them to dictate prices, suppress competition, and maximize their profits