As the late nineteenth century saw a protracted drop in expenses known as deflation, the development of large businesses sparked intense debate. Businesses battled to turn a profit in this highly competitive market. In response, they established informal pools or trade organizations where members would work together to regulate pricing and distribute business so that everyone would profit. These agreements were not enforceable because they were optional, and members frequently broke them. Eventually, large corporations established trusts, a type of corporate merger that more officially produced a single controlling company for the shares of numerous top companies in an industry.
This new, substantial corporation would be able to exert significant influence over matters regarding output and price for the broader sector. These companies’ size offered them an edge over smaller rivals since they could shut down inefficient plants and reduce expenses using new technologies (Raucher and Galambos 196). Businesses expanded in size and established autocracies or monopolies over entire sectors. Many American citizens, businesspeople, and liberals were concerned that the trusts would eliminate competitiveness in the American economy and wield excessive political power.
Sex was a significant factor in the Industrial Revolution regarding worker pay. Women typically made between one-third and half of what males did in terms of average pay (Raucher and Galambos 196). These low average incomes among women and children will be exploited as the manufacturing industries grow. These businesses benefited greatly from hiring these women and kids for small wages. Many industries took advantage of these people’s desperation for money since they could hire them for dirt-cheap employment and make a profit (Raucher and Galambos 196). Printing, spinning, and other tasks that people frequently performed at home were among the easiest and most lucrative vocations to learn.
The Industrial Revolution brought about social changes. One significant development was the transition from manual labor performed at home in cottage industries to factory labor. These pioneer factories had difficult and risky working conditions. The machines seriously threatened the lives of the workers. The dangers of coal mine employment were even more significant. Mine and factory owners had a lot of influence over the employees’ lives, who put in long hours for little pay (Raucher and Galambos 196). A typical employee would put in 14 hours each day, six days per week. Typically, workers would not voice complaints about the appalling working conditions and little pay out of concern of jeopardizing their livelihoods. Owners discovered they could pay men more while paying women and children less. Child labor rose due to low production costs and immense profitability (Raucher and Galambos 196). Consequently, the working class was impoverished while the middle-class bosses prospered; ultimately, the upper class made much more than anyone in history.
With these circumstances, the development of large-scale manufacturing systems flourished and underwent revolutionary change at this time. During the Industrial Revolution, women in the working class received lesser pay than males and frequently began working as young children (Raucher and Galambos 196). Women of this era often worked long hours to maintain their daily routines because they also had to take care of the home. A typical workday lasts from six to seven in the evening, including a shortened lunch break (Raucher and Galambos 196). The labour environment was appalling, along with the dusty food provided to them. They were required to work nonstop throughout working hours. On the other hand, men were revolting and rioting due to impoverished working conditions, low wages, and increasing their working hours.
Work Cited
Raucher, Alan, and Louis Galambos. “The Public Image of Big Business in America, 1880-1940: A Quantitative Study in Social Change.” The American Historical Review, vol. 82, no. 1, 2019, p. 196, Web.