How far was the growth of the American economy in the years 1890 to 1914 due to the rise of big business? (24 marks) From the years 1890 to 1914, the rise of enormous business prompted mind-blowing development of the American economy. Formation of trusts among the nation's heading organisations, for example, Carnegie Steel and Rockefeller Oil took up a dominant part of the business sectors. The American economy developed quickly amid this period, despite the fact that it was not developing as emphatically as in the 20s. Huge business unquestionably had impact in this development of the economy, yet there are still other additionally political and social impacts to consider.
The main change that happened in the 1920’s was the growth of industry. As technology grew, more factories were built, which could mass produce goods at incredible rate. Because they were being so widely produced, household goods became very affordable for the average American and as a result of this many people's lives were made easier and more entertaining by the accessibility of items such as hovers and radios. Also, in the 1920’s most homes had electricity, which changed people’s lives dramatically because electricity allowed the use of labour saving devises and made their homes more
The majorities of the women in America were happy about their new position in the society and began to enjoy participating into it. A rise of consumers also occurred in the 1920’s. The Industrial Revolution in the earlier time caused a production of a bunch of new-style goods, which means that Americans had more choices of purchasing things. “Automobiles and radio were only 2 leaders in a fast-moving economy. Total national production increased 34% between 1922 and 1929, (AC, P.180).” In the ’20’s, Advertising became very popular, and consumers started using credit to buy things, “In addition to advertising, industry provided another solution to the problem of luring consumers to purchase the mountain of goods produced each year: easy credit, or ‘a dollar down and a dollar forever, (AC, P.445).” All these economic
This happened because American businesses were on a rise and they created 12 million jobs. There were also key states like California that came out of the economic recession. California had growth that was being driven by high tech industries, entertainment, and foreign trade. The 1990s was also a time when the stock markets soared. There was a rising demand for shares in what is called blue-chip companies and internet companies also began to rise with value from individual portfolios, retirement accounts, and pension funds.
These sides can give us very conflicting ideas of America at the time. Source 1 shows increases in number of sales of consumer goods, such as cars, fridges, telephones, etc. Citizens in America at that time were provided with a much better living condition than before, for example, cars made it possible for more Americans to live in their own houses in the suburbs. The reason for these positive increases is the new methods in sales and marketing: managers learnt about propagandas in World War set up agencies to put up posters to encourage people to buy goods; even when the people didn’t have the money to buy it, they could borrow it easily or take advantages of the “Buy now, pay later” hire purchase schemes, as mentioned in Source 14. Source 16 states that the motor industries employed hundreds of thousands directly and kept hundreds of thousands others employed in other industries.
The rapid industrialisation increased immigration into the US making necessary city growth. Exemplifying this, the borough of Queens, across from the East River of Manhattan, doubled its population in the 1920s. Similarly, Grosse Point Park near Detroit grew 7000 percent as well as Shaker Heights outside Cleveland growing 1000 percent. Urbanisation was impacted greatly by industrialisation and caused great changes to the US in the 1920s. In the 1920s period, America experienced rapid economic growth.
In 1920s America, everything was changing. Wages were increasing, as were the cities and cars were becoming cheaper. People’s lives were becoming easier, as Source 4 says, ‘New consumer goods became available in the 1920s which had a significant effect on people’s daily life’. The housewife saw her ‘labor lightened and shortened’ and the farmer had ‘plenty of time on his hands in which to do other things than run his farm’. On the whole, people embraced this new found freedom from working, and they spent the extra money they were getting from their increased wages on leisure activities and entertainment, something people didn’t have the chance to do beforehand.
The Progressive Era was a time of reform as well as an industrial boom. New ideas and new ways of going about life, awakened people’s mind to the possibility of something better for them. The middle class started to grow, which boosted the national economy, because they were consuming more. In addition, monopolies started expanding their power over the national economy. A few groups became enormously wealthy and possessed great influence.
During the mid-nineteenth century through the beginning of the twentieth century, America went from being an agrarian rural society to an urban industrial one. With this shift, America experienced an explosive economic growth. By 1913, the nation was producing one third of the world’s industrial outcome. America started to become a more industrial nation since it was enjoying abundant natural resources, a growing supply of labor, an expanding market of manufactured goods, and the availability of capital for investment. The federal government played an important part as well since it promoted constructions by granting land to companies and using the army to remove the Indians from western lands desired by many.
DBQ Essay 10/11/12 During the 1800's, construction of the Transcontinental Railroad, and the Erie Canal led to great economic growth in the U.S. They both made transporting easier during 1860- 1890. The Erie Canal led to great economic growth in many ways. One way was that it made transporting easier for people and their goods. They used the Erie Canal for many reasons, but the main reason was to bring goods to and from places to make a profit.