The Development of the American Economy
The end of civil war in the United States comes with the enormous industrial and developmental change. These developments have eternally ended the slavery across the America, which had deeply subjugated in numerous states of America. The development and growth of more and more industries and the beginning of huge amount agricultural forming through automation and the construction of railroad led towards the extension of large scale businesses towards the other parts of the country which were formally inaccessible. Due to extensive growth and development, millions of immigrants across Europe and Asia migrated to America and abandoned fanning in the rural areas and then moved towards urban areas for job seeking.
The huge coming of immigrants have provided very inexpensive workforce in the manufacturing sector, therefore an economic boom was witnessed in a very short internal of time. Although, the people that get advantages become the business leaders and give very less advantage to the poor workers. The lower salaries given to the workers, along with the insufferable working environment that have enforced them to start movements for example labor-unions, which afterward assisted them to bring social justice to them and put an end to slavery permanently (Eckler, A. R., & Zlotnick, J, 1949).
The post civil-war had results in the development and industrial revolution in America. The accessibility of raw supplies for example steel, oil, iron, timber and many types of ores have given a huge rise in the expansion of more industries that includes electrical power, steel manufacturing and petroleum refineries. The manufactured steel was used to construct railroads. The Drive that takes many weeks could now be accessible in a few days and raw material can be easily moved from one place to another using railroads. For example. The industrialist like John. D. Rockefeller has used railroads to convey the natural goods from the state of Pennsylvania to the other states which are then processed and commercial products are manufactured such as petroleum products and steel. In the era of industrialization, handmade products and goods are substituted with the machines which decrease the demand of labor. From the year 1870 to 1916, the amount of goods manufacturing upsurge as compare to their preceding years. Further advanced goods for example barbed wires, typewriters, petrol-engine, electric light and cars were manufactured (Goldin, C. D., & Lewis, F. D, 1975). Communication Equipments are also manufactured with the invention of telephones and therefore making business to grow more steadily.
The era from the year 1870 to 1890 has witnessed the biggest raise in the economic growth and development in a very short period of time as compare to the history. The Standards of living improved greatly as the price of products reduce significantly because of rise in production. This has reduced unemployment in a great extend and greater upheaval in industry and commerce, with numerous laborer being replaced by the machines and numerous industrial units, ships, and other types of fixed assets turns out to be outdated in a very short internal of time. (Josephy, A. M, 1991). The Failure in Crop didn’t result in the starvation in the place that is linked to the larger marketplace through road and rail network. In the year 1870, the work done by the steam-engines have exceeded as compare to that of all the human and animal work in combine. The Upgrading of steam engines results in the more efficient engines that could carry more and more freight and result in an increase of international trade.
References
Eckler, A. R., & Zlotnick, J. (1949). Immigration and the labor force. The Annals of the American Academy of Political and Social Science, 262(1), 92-101.
Goldin, C. D., & Lewis, F. D. (1975). The economic cost of the American Civil War: Estimates and implications. The Journal of Economic History, 35(2), 299-326.
Josephy, A. M. (1991). The Civil War in the American West. New York: AA Knopf.
