Economic Issues: Industrialization in the USA | Free Essay Example

Economic Issues: Industrialization in the USA

Words: 595
Topic: Business & Economics
Updated:

Industrialization is a process of the fast development of the industry of a certain state in a certain period. Usually, it is determined by a set of reasons which exists at the current stage of development of a country. This phenomenon could be found in the history of each developed country which has big industrial potential.

This process is accompanied by great and significant shifts in a society which change the image of a country totally. That is why industrialization is a unique phenomenon and it is rather interesting to analyze its history in the USA, trying to understand its main peculiarities.

Industrialization of the country introduced new methods of production. New mechanisms promoted better results. Moreover, these mechanisms were able to produce more complicated goods, that is why new products appeared. These products included the typewriter, barbed wire, the telephone and the electric light (“History of the United States. Industrialization and Reform (1870 – 1916)” para. 8). Electric light was one of the factors which changed the landscape of the USA.

There was a great change in traditional traffic infrastructure. Significant growth of a number of railway stations could be observed. Different companies transported their production by rails as it was the quickest and the cheapest way to deliver goods. That is why railways guaranteed economic growth of the country. The industry got a shot in the arm and continued its blistering development.

“Industrial Revolution was of great importance to the economic development of the United States” (Kelly para.1). The value of goods produced in America increased almost tenfold and guaranteed stable economic development of the country (“History of the United States. Industrialization and Reform (1870 – 1916)” para. 12).

Moreover, the development of industry led to increasing in capitalization. People became richer and this fact promoted the development of the banking sphere. Banks in their turn often made loans to business, guaranteeing its development. Moreover, change in traditional means of transport also influenced the development of the economic sphere. Railways and telephone provided better communication and it became possible to make dealings faster and with greater benefits.

Industrialization also conditioned some change in the population of the USA. The appearance of new plants and factories resulted in great demand in the workforce. That is why more than 25 million immigrants arrived in the USA during the years of the Industrialization. (“History of the United States. Industrialization and Reform (1870 – 1916)” para. 10). As a result, a great number of different expat communities appeared.

At the same time, state of native-born Americans also improved. It became easier to find a job and there was a great salary increase. Living standards also improved. However, with the following growth of population competition for jobs raised. It became more difficult to find a well paid job. Moreover, great contrast between working people and the unemployed appeared. They had to live in extreme poverty, under horrible conditions.

Having analyzed the data connected with the phenomena of industrialization in the USA, it is possible to make some obvious conclusions. First of all, it should be said that it influenced greatly the development of the industry of the country, promoting new ways of production, and introducing new products to the market.

Development of industry led to economic growth. The great increase in the value of goods produced in the USA conditioned influx of funds to the economy. The population of the USA grew, supplying plants with the new workforce. With this in mind, it is possible to state the fact that industrialization influenced the development of the USA greatly.

Works Cited

History of the United States. Industrialization and Reform (1870 – 1916). n.d. Web. 2 Feb. 2015. <http://www.theusaonline.com/history/industrialization.htm>

Kelly, Martin. Overview of the Industrial Revolution. n.d. Web 2 Feb. 2015. <http://americanhistory.about.com/od/industrialrev/a/indrevoverview.htm>