The Development Of The American Economy

The end of the civil war in the United States came with enormous industrial and developmental changes. These developments have eternally ended slavery across America, which had deeply subjugated numerous states of America. The development and growth of more and more industries and the beginning of a huge amount of 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. However, the people who get advantages become business leaders and give very little advantage to the poor workers. The lower salaries are given to the workers, along with the insufferable working environment that has forced them to start movements, for example, labour unions, which afterwards assisted them in bringing social justice to them and putting an end to slavery permanently (Eckler, A. R., & Zlotnick, J, 1949).

The post-civil-war had resulted in the development and industrial revolution in America. The accessibility of raw supplies, for example, steel, oil, iron, timber and many types of ores, has given a huge rise in the expansion of more industries, including 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 materials can be easily moved from one place to another using railroads, for example. Industrialist like John. D. Rockefeller used railroads to convey natural goods from the state of Pennsylvania to other states, which were then processed and commercial products manufactured, such as petroleum products and steel. In the era of industrialization, handmade products and goods are substituted with machines, which decreases the demand for labour. 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 engines, electric lights and cars, were manufactured (Goldin, C. D., & Lewis, F. D., 1975). Communication Equipment is also manufactured with the invention of telephones, therefore making the business grow more steadily.

The era from the year 1870 to 1890 witnessed the biggest rise in economic growth and development in a very short period of time as compared to history. The Standards of living improved greatly as the price of products reduced significantly because of the rise in production. This has reduced unemployment to a great extent and caused greater upheaval in industry and commerce, with numerous labourers being replaced by machines and numerous industrial units, ships, and other types of fixed assets that turn out to be outdated in a very short interval of time. (Josephy, A. M, 1991). The Failure in Crops didn’t result in starvation in the place that is linked to the larger marketplace through the road and rail network. In the year 1870, the work done by the steam engines exceeded as compared to that of all the human and animal work combined. The Upgrading of steam engines resulted in more efficient engines that could carry more and more freight and resulted in an increase in 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.