As industrialization progressed, the American economy changed dramatically. Over the years of industrialization, food and fuel prices dropped to less than half of what it was before (Document 1). This sudden change in price led to a decline in wages, which affected …show more content…
These large businesses believed themselves to be the sole provider for the people, whom everyone was dependent on, and thought they were doing the public a huge favor (Document 4). The point of view of Document 4 is from Carnegie, a wealthy industrialist, and is important because although Carnegie preaches the positive effects of industrialization, his main goal is to gain wealth, which he achieves through monopolization and taking advantage of his workers. Creating trusts and monopolies was a popular way for big businesses to control the market and eliminate any competition, and was very common during the time of industrialization. Many small businesses were unable to compete with the large corporations who offered the same goods, but at a much …show more content…
Because of the large monopolies and trusts controlled by businesses, corporations often had a lot of political power. As we see in Document 3, Senators were often appointed to office by party leaders who were being directed by large corporations. This added to the political corruption of the time, because any political job position was now able to be bought. The purpose of the political cartoon in Document 3 is to illustrate how industrial trusts were running the government, which is important because at the time most people were either oblivious to, or didn’t do anything about, the injustice that was going on in politics, and this raised awareness to the fact. The most influential voices in the battle against political corruption were the People’s Party. They argued for more public participation in governmental procedures, and for better treatment of American workers (Document 5). This new political party and its ideas reflect how the negative effects of industrialization reached every sphere, and the backlash that the industrialization received.
Overall, industrialization had an overwhelmingly negative impact on American society, economics, and politics, during the years 1865-1900. The divisions between the social classes of American citizens strained relationships, and the anti-immigrant sentiments added to the social struggles of the time. The economy was greatly impacted by the monopolization