The end of the nineteenth century in America is often referred to as the Gilded Age and was a time of unprecedented overall prosperity for the American nation. America was just emerging from the chaos of the Civil War and Reconstruction, and factories that had been used to produce war goods for the Union Army in the North did not close their doors but remained open and began to produce manufactured goods for peacetime. The Transcontinental Railroad also opened in 1869, allowing for significantly more efficient transport of goods and people across the country. Additionally, the telegraph network continued to expand, allowing for easier communication between nearly all parts of the country, thus helping to facilitate the growth of business even further.
America also became increasingly urbanized in this period, and cities grew explosively, with waves of immigrants from Europe, Latin America, and Asia, as well as migrants from rural areas of the United States, seeking jobs in factories.
The political atmosphere of this time was very much in favor of business and had a laissez faire attitude in regards to regulation. The presidents of this time period are arguably some of the most forgettable and ineffectual presidents in American history. Corruption and greed plagued governments at all levels and helped facilitate the unscrupulous tactics and consolidations from big business leaders such as John D. Rockefeller, George Pullman, Andrew Carnegie, and J. P. Morgan.
America's industry grew at a staggering pace during this time, as did agricultural output, making the United States both the largest industrial and agricultural economy in the world at the time. With new machines and equipment, farmers could farm more efficiently than before, and fewer hands were needed on farms as large-scale agriculture took hold; many workers sought factory jobs in cities instead.
New business strategies, such as vertical and horizontal integration, took hold during this time and allowed big businesses to consolidate their control of markets and industrial production. New advertising techniques also became common during this time period; Coca-Cola is a famous example of this.
Westward expansion continued unabated during this time, giving rise to new cities and frontiers in the Western interior of America. This was facilitated by the continued growth of the railroad network.
The economic growth of this time period did not occur evenly across the country, either in terms of region or social class. The South, which had been primarily dependent on slavery and cotton-growing, was devastated economically during this period, and its economic growth was anemic when compared to other regions of the country.
There were also significant gaps in prosperity between classes, as most people became wage laborers instead of working for themselves, and newly arrived immigrants crowded into squalid conditions in tenement housing in big cities.
There was significant unrest between labor and capital during this period, and the first major labor unions and movements took hold to fight the deplorable conditions and treatment people experienced working in factories.
https://americanhistory.si.edu/presidency/timeline/pres_era/3_657.html
https://www.gilderlehrman.org/history-now/essays/rise-industrial-america-1877-1900
https://www.ushistory.org/us/36.asp
Tuesday, November 10, 2015
What factors drove America's rapid economic growth at the end of the 19th century?did economic growth in 19th century occur evenly across regions and social classes?Why or why not?
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