Huge business unquestionably had impact in this development of the economy, yet there are still other additionally political and social impacts to consider. This permitted the biggest and most effective of the organizations in America to undertake the leading role in the economy to their fullest potential and grow. Likewise through huge business, overseas businesses and markets prospered, therefore this accumulating a considerable measure of capital into the business sector. Huge organizations obliged mass-promoting and extensive manufacturing; this would add to the expanding interest of general society, and now likewise foreign interest, which expanded deals and profits of organizations, less demanding and a lot more rapid. Innovative developments permitted the utilisation of mass manufacture, for instance, the formation of the mechanical production system or the "Conveyor Belt" by Henry Ford for the Model T Ford auto.
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.
Pioneers of electric lighting, Charles F. Brush and Thomas Edison brought important additions to the industrial growth. The United States economy relied greatly on railroads and with the new techniques of iron and steel manufacturing, dominated by Andrew Carnegie and Henry Clay Frick, the railroad system controlled by tycoons such as Cornelius Vanderbilt, James J. Hill, Collis R. Huntington, expanded significantly. The automobile industry saw its first magnate, Henry Ford who produced the first cars in 1895. John D. Rockefeller marked the oil industry by starting his corporate empire shortly after the Civil War. The “captains of industry” contributed substantially to
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.
Since they were making finished goods more quickly, the demand for raw materials in factories rose, which led to the colonization of less-developed areas (Document 1). For example, Cecil Rhodes of Britain heard the stories that King Solomon's mines were north of the Limpopo River, and that the area had even more potential than the Witwatersrand goldfields. The natural resource of gold lured Cecil Rhodes into forming the British South Africa Company and colonizing the area, later known as Rhodesia. The powerful nations of the world were also interested in gaining colonies because it provided them with markets to trade their finished products with (Document 2). The mother country could take the colony's natural resources for a cheap price, convert them into finished products, and then sell these goods back to the colony's citizens.
Between the years 1825 and 1850, the US saw a number of Reform movements rise. These reforms involved all aspects of life. These movements sought to expand democratic ideals. Movements such as those for children’s rights and for economic reform were meant to build up towards a democratic utopia. When industrialization boomed in the US around this time, the economy received a great boost.
The United States, at the end of the 19th century went through a drastic economic change in what is considered the Second Industrial Revolution. The economic change experienced was the amount of growth the American economy went through during that time. Many things can be attributed to this growth during that time period. A growing population of laborers, a larger market for manufactured goods, a vast amount of natural resources, and the government’s role in actively pushing post civil war industrial and agricultural development. During this time period, one of the changes that lead to this economic growth was the migration of the American population from small rural farming communities to the urban industrial cities.
Mass production was taking place allowing to make more profit off of the merchandise. More profit means more pay for the workers. Cities had been starting to get bigger and bigger having more and more people coming to live in America. These newcomers were ecstatic to have new freedoms and opportunities. It was cheap labor, but it was still work.
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.
There was more land, more jobs, and more immigrants looking for a new way of life. For the most part, railroads caused the second industrial revolution. This was the first big business of the United States. This stimulated the post-war national economy and stimulated the marketplace. The railroads contributed to mass production, and distribution of the market goods.