Industrial Economy
Industrial revolution is one of the factors that contributed to the rapid development of the American society after the Civil War. Industrial revolution was mainly influenced by expansion of factory production, mining, and expansion of rail and road infrastructure in all parts of the country. Another factor which is not highlighted by the author is the embracement of technology in production. Many factories were adopting technology which helped in improving the productivity of workers.
According to Foner (2016 p. 605), “by 1913, the United States produced one-third of the world’s industrial output—more than the total of Great Britain, France, and Germany combined. Half of all industrial workers now labored in plants with more than 250 employees.” This shows how the plants had increased their capacity to employ more Americans. Industrial revolution was experienced mainly in the textile industry. However, there are other industries that also experienced revolution and new technologies of production especially at the turn of the twentieth century. One of these industries is the automotive industry. Ford and General Motors pioneered some of the innovations that improved the productivity of workers.
One of the major effects that industrialization had on the economy of the United States is that it reduced dependence on farming jobs. This especially happened in the north. Industrialization within the cities led to development of skyscrapers and manufacturing establishments which were symbols of industrial growth in the United States. Capital for industrial growth was obtained mainly from the stock exchange meaning that industrialization resulted in development of financial markets. There are other smaller industrial cities that developed. These smaller cities focused on producing single-industry cast-iron stoves or furniture. These small cities also created employment opportunities for many Americans. It is through this employment that these cities managed to grow into bigger cities.
- Foner, E. (2016). Give Me Liberty!: An American History. New York: W.W. Norton & Company.
