Development of the American Economy After the Civil War

The Development of the American Economy
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The Development of the American Economy
Since the era of Reconstruction up to the late 19th Century, the U.S went through an economic transformation that was characterized by the industrial economy maturing, big businesses expanding rapidly, agriculture turning into large-scale and industrial conflict and national labor unions arose. The national transformed from an agricultural one to an industrial society after the Civil War. This remarkable change was attributed to such factors as; availability of raw materials such as oil, iron core, and timber; innovation and new technology; readily available, skilled, and affordable labor from immigrants; and emergence of skilled and talented business leaders.
Question 1: Industries in in the post-Civil War period in America
The headlong economic growth and development in different industries in the United States was fueled by the outburst of innovations and a new technology during the late 19th century. This was accompanied by the rise of the American corporation and the initiation of big businesses, resulting in the productive capacities of the nation landing in fewer hands. One of the most transformed sectors was farming, which benefited from mechanization as it brought the sector into large-scale status (Rousseau, 2020). This also made the U.S the largest world producer in the world, something it holds to date. Further, other industries emerged with more advanced production methods; electrical power, petroleum refining, and steel manufacturing. The boom in these industries was attributed to the availability of raw materials and improved transport infrastructure.
Question 2: What made the industry leaders successful?
One of the main factors was the availability of skilled and affordable labor that was provided by the immigrants. The immigrants were from such countries as Mexico, and countries in Asia and Eastern Europe (Teitelman, 2020). The business leaders could also identify opportunities that they could exploit during a period when business was favored by the fact that the economy was expanding rapidly. Many of the leaders who emerged successful were the ones who had focused on creative conducive workplaces and promoting effeminacy even in their dealings with laborers. They started with small businesses but they expanded their operations as the businesses expanded. Further, the second industrial revolution contributed to increased business efficiency and improved profitability, further contributing to success...