Also, after World War 1, America took over as a leading producer as many European industries had suffered greatly because of the war. Government policies meant that businesses could thrive without government interference. World War 1 led to new markets being opened to America. This resulted in America developing new industries and new industrial ideas. These new industries meant that Americans believed that America was the most powerful country in the world.
Men and women were attracted to the new cities because of the culture and conveniences that were unavailable to rural communities. Immigrants in particular were eager to get to cities like New York, Chicago, and Boston for these reasons, and to look for better jobs than the ones they had found at home. In fact, without the increase in immigration from 1850 to 1920 (where around 38 million came to America), cities would have expanded at lethargic rates – if at all – due to a decreasing fertility rate and a high rate of infant mortality. Death due to disease was also common. Yet the influx of immigrants managed to make up for these losses, and cities grew exponentially for nearly a century1.
The European wages, especially for skilled workers, were much lower than in America. Wages in the US grew at a very fast rate and continued to rise. The increase of industrialization means, an increasing labor force. However, even with an increase in jobs the Gilded Age was also an era of poverty as very poor European immigrants moved to the United States. The major industry was railroads, but labor unions, mining, and the factory system also increased in importance.
Jackson was not alone in thinking this, many of his peers and colleagues had the same views and beliefs, but were proven wrong with the introduction of the Industrial Revolution. This new era introduced an abundant amount of shortcuts in the area labor and labor saving devices. The introduction of these devices meant that a company could now save on salaries, but still increase productivity. The results of this new way of business were evident, the years between 1790 and 1807 showed American exports rising from 20 million to 108 million exported goods a year. The increase in exported goods was not only due to the new inventions, but also the high tariffs placed on imports, giving America a trade surplus.
Industrialism eventually would make America into an economical and technological front runner in the world scope. During this time, American industry grew faster than ever before. While this caused cities and urban areas to spread, it also increased the pace of and therefore the stress of life. This consequence did not seem to have much an effect because during this time, it was the age of progress. Material comfort could potentially be achieved by anyone and everyone(or so it was thought).
People had the time and money to buy goods and invest in the economy, which boomed; so unemployment fell and wages rose. More people were employed and had money, which they used to buy consumer products, which then continued to fuel the booming economy. Therefore the main reason for the boom in the 1920s was the increased accessibility of consumer products, and the subsequent empowerment of the consumers. The boom in the 1920s marked the birth of mass market and the consumer-driven economy. Works Cited Walsh, Ben.
The Gilded Age Served as an era that was characterized by rapid growth of the economy, though significant social conflict was also prevalent. Railroads were regarded as the major industry, as well as mining, factory and labor unions became increasingly important. The wages for American skilled workers were significantly higher while compared to those in Europe. The high-speed growth of economy created tremendous opportunities, which made the US attract a large number of immigrants. A large number of people cross the seas from Europe and Asia in search of political and religious freedoms as well as employment opportunities.
Common goods, such as textiles, became in higher demand because they were being produced so fast for such little money. Various ways of transportation were being invented at this time as well, allowing for trading to be done faster; this also allowed for international trade. Production triggered the local economy to grow and eventually become more of a global economy. With each invention came a higher demand, and more jobs, which was very stimulating for the world, economically and technologically. However, there are also documents that indicate that the Industrial Revolution has also been seen as a time of misery and unfairness among ordinary people.
The following sections address the economic and social trends that acted to shape the United States into what it is today . Furthermore, it also addresses the different implications of these changes on the population, government, and foreign partners. The main argument revolves around the idea as to whether the Gilded Age was beneficial or detrimental in shaping America. On an economic front, the Gilded Age marked the most remarkable economic improvement in America’s history. Over a period of a century, the country’s economy grew by approximately 400% .
America gained money while the European countries were busy fighting. There was a huge rise in production at this time. This also meant that a lot of jobs were being produced as a result of this. An important factor of the American boom in the 1920's was America's natural resources. America was full of resources like oil and coal.