Industrialization and the Rise of Big Business: America's Transformation into an Economic Superpower
From the period of 1870 to 1900, the United States became one of the world's
strongest and growing industrial nations. An industrial revolution that had begun with the
manufacture of cotton and woolen textiles had, by the beginning of the 20th, transformed
the production of most everyday goods. Ranging from food, clothing, appliances, and
automobiles, the enormous output of industrial production led to the rise of big business
as it coordinated methods of distribution and sales to forge an infrastructure for consumer
culture. The rise of corporations, such as Carnegie Steel, J.P. Morgan, and Standard Oil,
in the late 1800's, was able to dramatically shape the country politically, socially, and
economically and even continues to do so today through new modern finance and
monopolies.
Industrial growth was mainly fueled by a surplus in resources, immigration and
therefore cheap labor, and major technological advances that expanded the capabilities of
various industries. As technological advances transformed production and distribution, a
wave of inventions, including the typewriter, light bulb, and automobile led into new
industries. Through this boom in business, leaders learned how to operate many different
financial activities throughout the nation. Ultimately, they were able to become larger and
the modern corporation was "born" into one of the most important roles in the future of
business.
These corporations seemed "new" for many people in the country, but corporations
actually date back to the 16th and 17th centuries, where they were used by royalty and
governments to organize exploration and possible colonization. Many businessmen and
politicians had been suspicious of the corporation from the time it first emerged in the
late 16th century. Unlike the partnership form of business, which dealt with a small
amount of people on a personal level, the corporation separated ownership from
management. In Adam Smith's The Wealth of Nations, he
strongest and growing industrial nations. An industrial revolution that had begun with the
manufacture of cotton and woolen textiles had, by the beginning of the 20th, transformed
the production of most everyday goods. Ranging from food, clothing, appliances, and
automobiles, the enormous output of industrial production led to the rise of big business
as it coordinated methods of distribution and sales to forge an infrastructure for consumer
culture. The rise of corporations, such as Carnegie Steel, J.P. Morgan, and Standard Oil,
in the late 1800's, was able to dramatically shape the country politically, socially, and
economically and even continues to do so today through new modern finance and
monopolies.
Industrial growth was mainly fueled by a surplus in resources, immigration and
therefore cheap labor, and major technological advances that expanded the capabilities of
various industries. As technological advances transformed production and distribution, a
wave of inventions, including the typewriter, light bulb, and automobile led into new
industries. Through this boom in business, leaders learned how to operate many different
financial activities throughout the nation. Ultimately, they were able to become larger and
the modern corporation was "born" into one of the most important roles in the future of
business.
These corporations seemed "new" for many people in the country, but corporations
actually date back to the 16th and 17th centuries, where they were used by royalty and
governments to organize exploration and possible colonization. Many businessmen and
politicians had been suspicious of the corporation from the time it first emerged in the
late 16th century. Unlike the partnership form of business, which dealt with a small
amount of people on a personal level, the corporation separated ownership from
management. In Adam Smith's The Wealth of Nations, he