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American History: How Business Has Affected the Economy over the Years - Term Paper Example

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The paper studies the Industrial Revolution and its impact on American society and business. Industrial Revolution started from Britain in the mid-eighteenth century and it became an industrialized country with control of Europe’s energy in addition to iron and coal production capacity.   …
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American History: How Business Has Affected the Economy over the Years
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Download file to see previous pages American society transformed from a rural and agricultural one to industrial and urbanized one during late 18th to the beginning of 20th century. There was only no considerable progress before the use of iron in agriculture. In early days Americans were not as self-sustaining and skilled. Homestead Act in 1862 for agriculture was promoted for agricultural growth especially in western states, but it didn’t prove to be beneficial. The land was fertile and slavery proved to be beneficial for agriculture till 1870.
In the late 18th century, agriculture flourished because of land and labor abundance. New machines were invented to replace farmer as cheap labor or slaves were limited to southern parts only. Initial forms of plows were improved in Jethrowood during early years of 18th century. By 1880 United States was mechanized enough to feed the victims of WW1. With advanced technology and machinery, farmers were not only able to grow more fruits and vegetables but also delivered them on time due to faster transportation and refrigeration means.
American Industrial revolution is divided into two parts.1st-time the world notices the newborn United States of America in Crystal Palace exhibition, who won awards for farm machines, rubber products and dried meat biscuits (Katie & Melodie, 2003).
During early days of industrialization, British reaped most of the benefits of this revolution; they controlled the resources, knowledge, and technology which restricted the way of the industry to other parts of the world. The major challenge for America was to counter the Britain steps taken to keep the technological and information developments.   ...Download file to see next pagesRead More
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