The People Behind the American Industrial Revolution
HISTORY OF FINANCE: Research Paper
“The people behind the American Industrial Revolution”
May 1st, 2012
Table of Contents
Introduction Page 3
The People behind the American Industrial Revolution * US Government Page 4 * Robber Barons Page 5 * The “masses” Page 7
Conclusion Page 7
Sources Page 8
“For the first time in history, the living standards of the masses of ordinary people have begun to undergo sustained growth … nothing remotely like this economic behavior has happened before”, these are the words of the Economic Nobel Prize, Robert Lucas Jr. concerning the Industrial Revolution in the 18th and 19th century. This period marks an important point in history as it has affected and improved the lives of the millions of people in Europe, Japan and North America.
This period was not only marked by an increase in the quality of life but also a drastic population increase. Indeed as the birth rate increases and mortality rate decreases (thanks to the medical improvements), population boomed. In addition to a medical improvement, there is also the issue of immigration (in the US). There was a huge immigration to the US from Europe due to social problems. Furthermore, the American Dream was appealing to the eyes of most immigrants. This population boom is considered as a motor of the industrial revolution.
The industrial revolution started off in Britain and then spread to different nations. It arrived at the US, helped its economy and society to rise and become one of the wealthiest and most powerful nations in the world. This paper will analyze the actions of the main actors that have contributed to the American economy during the Industrial Revolution. That is to say the US government, the Robber Barons and the common people.
The industrial revolution was marked by the creation of a new mean of transportation: Steam transportation. For a country as big as the US this new type of
“The people behind the American Industrial Revolution”
May 1st, 2012
Table of Contents
Introduction Page 3
The People behind the American Industrial Revolution * US Government Page 4 * Robber Barons Page 5 * The “masses” Page 7
Conclusion Page 7
Sources Page 8
“For the first time in history, the living standards of the masses of ordinary people have begun to undergo sustained growth … nothing remotely like this economic behavior has happened before”, these are the words of the Economic Nobel Prize, Robert Lucas Jr. concerning the Industrial Revolution in the 18th and 19th century. This period marks an important point in history as it has affected and improved the lives of the millions of people in Europe, Japan and North America.
This period was not only marked by an increase in the quality of life but also a drastic population increase. Indeed as the birth rate increases and mortality rate decreases (thanks to the medical improvements), population boomed. In addition to a medical improvement, there is also the issue of immigration (in the US). There was a huge immigration to the US from Europe due to social problems. Furthermore, the American Dream was appealing to the eyes of most immigrants. This population boom is considered as a motor of the industrial revolution.
The industrial revolution started off in Britain and then spread to different nations. It arrived at the US, helped its economy and society to rise and become one of the wealthiest and most powerful nations in the world. This paper will analyze the actions of the main actors that have contributed to the American economy during the Industrial Revolution. That is to say the US government, the Robber Barons and the common people.
The industrial revolution was marked by the creation of a new mean of transportation: Steam transportation. For a country as big as the US this new type of