How Did America Prospered

remained agrarian longer than Britain and as agriculture advanced, farmers were freed up to work in factories instead of on the farm. The U.S. borrowed the idea of machinery from Britain and after industrialization was established, they came up with their own “American” production system that exercised efficiency. The large land mass made transport of goods expensive until the railroad was built. The U.S. economy was heavily regulated by the government where the people did not believe in Marxism or socialism. No political party represented the working class. American workers had better standards of living, where

New technologies improved agricultural and industrial productivity. Growing cities provided markets and workers for industrial businesses. Products were allowed to reach distant markets because of improved railroad

Another good example that helped the U.S to industrialize rapidly was new technologies. It was also considered the “The Age of Great Invention.” So many new things

* The Great RR Strike of 1877 shut down railroads from WV to CA & resulted in hundreds of deaths

The new era economy reflected the industrialization that the country had just undergone. Although there was a recession from 1921-1922, after 1922 we enter a period of uninterrupted prosperity, and growth. As Americans incomes increase, and prices decrease, this allowed for more of a disposable income. Middle class families are now able to buy cosmetics, fridges, vacuums, and automobiles. Technology also greatly influenced the major economic growth that occurred. The automobile industry became the most important industry in the nation. It was very similar to a domino effect, once auto manufacturing increased and was successful, other industries such as, steel, rubber, glass, and oil companies also increased their production due to the purchases made by the auto manufacturers. Automobile manufacturing created jobs, and as the radius of cities was extended, the demand for more automobiles increased. Unfortunately, farming became a double-edged sword. In the 1920’s tractor usage quadrupled, but the problem was that the demand for agricultural goods was not increasing with increasing production. This created

The United States was able to grow following the War of 1812 due to innovations in

Economically the United States had its highs and lows. One would have not wanted to be an American during the time period of the

     America was truly revolutionized by the invention of the assembly line, with the Ford Motor Company able to mass produce these cars people could drive anywhere and everywhere. Fords invention also created many jobs. With higher wages and fewer hours Henry Ford basically created a middle class for the American Society. At this period of time no other company had a shorter work day. As Ford produced and sold more cars he raised the wages. The American economy began to strengthen as more work became available to the people. Roads needed paved and gas stations needed attendants. With the automobile becoming an everyday car people began to travel, the hotel industry began to boom and the market for tourism had evolved. Business owners all over America began to love Henry Ford; for his

During the twenties another discovery led to a rising economy for America. The oil industry struck it rich in Turner Valley Alberta, where a huge oil discovery took place. Eventually this industry would create new jobs and more money for the economy. America did have its good and bad times in the twenties, but most people benefited from the good times because of more job increases, and because of new industries such as wheat and oil.

The Postbellum period in America from 1865 to the 1920s was characterized by a transformation of the American economy and unprecedented growth. Some of the largest companies founded in this time period are still around and thriving today including the Ford Motor Company, J.P. Morgan Chase, and General Electric. In addition to economic growth, there was also rapid urbanization and population growth from 31 million people in 1860 to 91 million in 1910. A shift in the market from agriculture to manufacturing partially propelled this growth. Despite the decrease in agricultural market share, the output increased threefold. By 1910, America increased its share in world manufacturing to 38.8% from 23.3% in 1870. Some economic historians such as Beard and Hacker propose that this growth is due to the Civil War. In general, there were three main spheres of influence spurring economic growth in this time period including technological advances, economic advantages and big business, and institutional changes.

American was a prosperous country with incredible economic growth between the end of Reconstruction and the Great Depression. It was during this time that "industrial expansion went into high gear because increasing manufacturing efficiencies enabled American firms to cut prices and yet earn profits for financing still better equipment (Henretta 488)." During this era, the manufacturing of steel, the construction of railroads, factories, and warehouses, and the growing demand for technological advancements, increased greatly. Philanthropists, such as Andrew Carnegie, Andrew Mellon, and John D. Rockefeller, took advantage of the situation they were in by investing large sums of capital into the growing economy. Carnegie constructed

As the economy grew due to technology and new ideas, most Americans earned more money than they ever had. Most jobs of the time paid well, compared to the past, and were centralized in major cities. More money called for some way to spend it, consequently, the mass production of luxury goods and nationwide

The Roaring Twenties is known as a time of prosperity due to consumerism and mass-production from the years 1920 to 1929. This era in American history could be considered one of the most excessive times to date. Because of the United States’ triumph in World War I, the country had its first involvement of being a world power. The increase of consumer goods greatly impacted the U.S. economy during this time of success. Also, the start of the airline industry along with the expansion of automobile manufacturers helped profit banks. Several Americans became dependent on the newly developed methods of payment, which eventually became the American standard way of living. The quest to achieve this ideal lifestyle also known as the American Dream led to a severe shift in the nation’s economy. Through both fiscal and monetary policy along with laissez-faire tactics, the Roaring Twenties ended with the 1929 Wall Street Crash, which was the precursor to the worst economic decline in history, The Great Depression.

3. Emerging markets and expansion abroad Although the economy of America was sinking into mud, the emerging markets like the Golden Brick countries have much bigger purchasing power

The quality of life was improving as well. Mass production allowed more expensive goods, such as shoes, to be less expensive