All of these issues helped to shape the American nation and its people. After the Civil War, the development of improved industrial methods and the arrival of masses of immigrants eager for factory jobs launched a new era of mass production in the United States. The nation turned its efforts toward economic recovery and expansion. America's abundant supply of natural resources, such as coal and oil, encouraged investment. 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.
There were many aspects that lead to the economic success that America experienced in the period after 1890, all them then becoming factors in America becoming the economic powerhouse it has. America possessed an abundant supply of land, raw materials and natural resources; coal oil and timber and with the expansion onto the newly settled Great Plains, America had the ability to develop in a variety of ways. With the newly acquired land from the Native Americans, agriculture grew and thus followed profit increase in the area. New technologies such as the invention of refrigeration on the move and communication technologies like the telegraph allowed business to grow much further afield, and not just with in the United states, along with the agricultural growth came the expansion of the railways in the west both making money from the resources readily available creating a growing cycle of supply and increasing demand in areas previously untouched furthering the economy. Mass immigration into the USA stretching from the end of the 19th century and well in to the 20th supplied an affordable and readily available source of labour willing to work cheaply in the growing industries, the new immigrants boosted the American economy in two ways; an increased demand in housing and food as well as other day to day commodities profited the economy, but also the cheap labour they provided allowed big businesses to grow.
There were many factors that helped the growth of The British Empire such as early settlers and trading companies, however the Navigation Acts rapidly accelerated the success of the trading companies therefore expanding The British Empire. The Navigation Acts were a set of laws that kept trade in the hands of the British; this gave them ultimate power over most trade and gained them a lot of wealth and thus success. Government and war played a significant role in the growth of the British Empire which gave them more power such as the EIC winning a number of sea battles against the Dutch which granted another firmum which gave the company more effective trading. Trading companies helped the growth of the British Empire, as without these, there would have been no income, meaning Britain couldn’t gain more land and secure more footholds. The trading companies played a significant role in triggering the Navigation Acts, but it was the acts themselves that put trade in the hands of the British.
Was the introduction of mass production the most important reason for the economic boom in the USA in the 1920’s? Why and what was the most important reasons for Americas economic boom almost a century ago? In this essay I will explain what the most important reason for the great economic boom in the USA during the 1920’s was and why it is. One of the main causes that was in the initial essay question was mass production. Henry Ford made cars for a living and came up with this way of easily producing cars cheaply, efficiently and on a very large scale.
Since the Civil War ended in the late 1800’s, many inventions and innovations started to skyrocket in production, which led to what is now called the Industrial Revolution. This revolution really made an impact on how the people of America lived. Faster transportation, like the railroads and locomotives, made it easier for settlers to move out west where a lot of the industry work started. Inventions also made a huge impact on how people lived and made their daily lives easier. Some of these inventions were electricity, the sewing machine, the telephone, and the Model T Ford.
At the advent of this mobilizing capitalist economy came John Jacob (J.J.) Astor who possessed the entrepreneurial talent to turn these ideal economic conditions into economic profits. Contrary to popular historical beliefs supported by historians like Norman Gras, Kenneth Porter, and Alfred Chandler, J.J. Astor had visible control over antebellum markets and business operations. Astor established practises that remain a key part of business institutions in present day America. He co-ordinated hundreds of employees, navigated government policy, kept meticulous accounting records, and in doing so, built one of the largest and most successful enterprises in history. His accomplishments describe how he began to change methods of commercial operation, inspire new institutions, and generate substantial change.
There was also the emergence of new governments that were more united and powerful than the feeble ones of the past. The main motivation was financial gain, there were stories of vast amounts of gold and other riches and settlements were needed in order to establish trade routes to the Far East. What made these settlements possible was advancements in ship building that made it possible to travel over the worlds vast oceans and also advances in navigation. According to Guns, Germs and Steel chapter 3 page 78 “Pizarro came to Cajamarca by means of European
The sustainability for Rolls Royces plans for expansion can be assesed by wether or not their expansion will be able to assist the companies economic standing in the long run and wether or not the businesses expensees in the expansion will result in a financial gain for the business as oposed to a loss. Several segments of the businesses accounts such as the balance sheet illustrate wether or not the business will be able to cope with its plans for expansion in the long term. One of the most prodominant factors influencing Rolls Royces decision to expand the business would be due to the increased demand and growth for their product range in international markets which is illustrated by their increase of sales growth in these regions with China increasing by 11% and with the Middle East increasing by 17% , as well as reaching an all time sales high of 3,630 cars in 2013. This indicates that their is a growing global market and want for cars produced by Rolls Royce and in the high end car market , therefore Rolls Royce will want to try and expand their business and their production in order to try and cater towards this market as this will further result in increased revenues and will also assist the competitivness of the business. The gearing of Rolls Royce can give us an insight into how well they well be able to financially cope with the expansion and wether or not it will be capable of doing so.
Moreover, this then led to changes in the supply of money, the concept of credit, and in forms of investment. This in turn brought new understandings of economics. Along with this, the industrial revolution led to the prosperous trade not only across the English Channel to Europe, but across the oceans to Africa, Asia, and North and South America. Not only this, but between 1800-1850 the national income rose by two-hundred-thirty percent. Economic stability and growth led to people being well fed, to have proper housing, and gave people opportunities to not be dependent on an agricultural income.
Outline the features of globalization and analyse the impact of globalization on the standard of living in the global economy. Globalization, is an important characteristic within the contemporary economic environment, and has undoubtly provided a significant stimulus to economic growth for participating economies. The term globalization refers to the process of increased integration between different countries and economies and the increased impact of international influences on all aspects of life and economic activity. The drive for globalization has resulted in greater economic growth globally, through the opening up of barriers to international trade, yet this increase in world output is often associated with detrimental effects in relation to the stability of a national economy, being susceptible to the ups and downs of the international business cycle and also both positive and negative effects on the standards of living or quality of life with in a nation. There are many dimensions to globalization, and it is often difficult to categories an economy as being globalized, yet there are several key indicators of integration between economies; these include: • International trade flows • International financial flows • Growth of investment flows b/w countries and the transfer of technology • The movement of workers b/w countries Whilst economic growth is one of the most obvious features of globalization, the driving force for world economic growth and economic growth within individual economies, is the growth in international trade flows.