America had the resources to solely rely on agricultural, but the incoming of new inventions made it harder to pass up a great opportunity and America had to use these innovations to their advantage. The Industrial Revolution brought many settlers to America to work in the growing factories. More workers meant more production, thus creating an economic boom in America. This economic boom was also the start of prosperity for the people in America. The fact that people would travel West and have a new way of life using the new technology and at the same time being able to have land that was all their own.
The Industrial Revolution was a time of rapid development in industry that began in Europe, especially Great Britain, in the late eighteenth century, then spread to the United States and other countries. It was brought about by the introduction of machinery, and was characterized by the growth of factories and the mass production of manufactured goods . During this time, new technologies were created and made available to the public through the use of new production and transportation methods. Manufacturing goods became much easier, new businesses began, and as a result, America grew, both in population and influence. However, due to the Industrial Revolution, America began to stray from the vision the founding fathers had for the nation in the late 1700’s and 1800’s.
Much of this investment came from already industrialized countries like Germany, Great Britain, and France whose business owners looked for new investment opportunities in the United States. These investors put money into the work of mechanics and engineers with the expertise to develop new, more efficient ways of mass-producing goods. Machines benefited the United States by allowing business owners to specialize in the production of goods and manufacture them in large quantities to distribute throughout the nation or export. As a result, the cost of mass-produced goods went down as their quantity went up causing industrial profits to rise. With the creation of transcontinental railroads and telephones, marketing nationally was available to distribute these goods.
These events all lead to Militarism, a better economy and foreign trade, led to countries having more money to buy weapons. Population also meant more soldiers, and steel and iron production was transported easier due to trains and steam boats. By 1914, The triple alliance had more ships, 49 more warships and 125 more submarines (resources of the Great Powers in 1914). But the Triple Entente had more man power, 599000 thousand more. Germany tried to build a much stronger navy to show its power.
This money was important because the economy in Russia was poor at the time; bearing in mind there was a huge number of peasants and very few working class people at the time may suggest a reason for this. Russia's biggest produce was grain. This was the most important factor in my opinion, as without this money, Witte wouldn't have been able to implement any of his ideas. The second area was state sponsored development of heavy industry. Witte believed that heavy industry was the way forward, because he thought that light industry and agriculture could both benefit from this boost.
Peacetime industry began to give way to wartime endeavors. Factories built parts and shipped them to other factories to assemble into the final products. The country needed ammunition, tanks, aircraft, ships, bombs, protective gear, and many other wartime necessities. American industrialists invested in the development of new technologies that allowed the production in greater quantities and at a quicker pace. These endeavors provided a huge boost to the economy of the United States, advanced industrial technology, and provided more work opportunities for Americans.
The people only had worthless Confederate money. The Southern banks could not loan out any money because they didn't have any. To make matters worse, the price of cotton fell drastically on the world market. Everybody in the South became poor. The economy of the South was in ruins.
He linked industrial growth with a stronger nation politically and economically, and was inspired by the more developed nations in the west. He invited foreign experts from more industrialised countries like Britain, France and Germany to Russia to advise him on modernisation. He realised that he would have to have policies that would allow individual business people to start factories and encourage metalwork. His policies were successful, because industrial growth increased on average by 8% a year between 1890 and 1899, which was the highest growth rate of any of the world’s major economies. When Witte placed emphasis on industrialisation, it meant that jobs were created in towns and cities.
At the end of the 19th century, American lives were profoundly impacted by the Industrial Revolution. Political, economic and social change was evident throughout America. Before the Industrial Revolution, goods were manufactured in traditional ways and production was inefficient and slow. Most Americans lived in rural areas prior to the Industrial Revolution and small producers represented the majority of American industry. Laws regulating work and production were limited.
The industrial revolution is what has shaped society into what it is today. Without the industrial revolution, the world we live in today would not be as prosperous and privileged as we know it to be. It is hard for one to imagine a world without the mass production of products we use day to day and the economic benefits from it. Moreover, the production of goods by machine took on new dimensions in itself and changed the definition of the word ‘manufacture’. The original definition pre industrial revolution manufacture meant ‘made by hand’, post revolution it changed to ‘made by machine’.