We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Pre-1924 U.S. Economic History - Term Paper Example

Comments (0)
Summary
Name Macro & Micro Economics 4 December 2013 The 19th Century Labor Market During the 19th century, America experienced positive economic growth. The national product grew at a rate of 4 percent each year. However, this could not be attributed to changes in technology, but rather growth in factor supplies…
Download full paper
GRAB THE BEST PAPER
Pre-1924 U.S. Economic History
Read TextPreview

Extract of sample
Pre-1924 U.S. Economic History

Download file to see previous pages... In 1800, a quarter of the American population was in the labor force. Between 1800 and 1900, the labor force increased at an annual rate of approximately 3 percent. This growth was unprecedented although the civil war slowed it down. The arrival of immigrants in America affected the growth of the nineteenth century labor force. Majority of the immigrants came from East and South Europe. The composition of the work force included more males than females. However, males below the age of fifteen did not work since they needed to attend schools at the time. Those above the age of fifteen were however the largest percentage in the labor force. Females also accounted for a proportion of the labor force although they were not as many. However, their rate of participation kept increasing throughout the century. Majority of these women were single and young, since most of the married ones stayed at home. Slaves also accounted for the overall amount of those in the labor force. At the close of the civil war, slavery was abolished and this is among the reasons why there was a decrease in the overall labor force. Since majority of black women and children had forcefully worked as slaves, when slavery was declared illegal, they ceased to work. The proportion of men however remained the same as most of them continued to work to sustain their families. It was during this time that craft workers in the workshops were replaced by the large industrial working class people. At the end of the 19th century and the start of the Second World War, the labor market entered in a phase of labor homogenization. This meant that the market was divided as either primary or secondary labor market. The primary labor market was disproportionately composed of highly skilled or the well-educated white male. In this category, the employment was secure, the earnings were high, and the edging benefits were generous. The secondary labor market was disproportionately composed of a large number of women, racial minorities, Africans, and Hispanics. These people were unskilled and lacked education. They worked in small enterprises that had low investments, employment was insecure, the earnings were low, and edging benefits were insufficient. In the 19th century, most of the American businesses were categorized as a monopoly. As other businesses continued to emerge, others such as the petroleum, sugar, and tobacco industries took control of the labor market. Due to the monopoly, many firms faced competition from their competitors, and this resulted to lowing of prices and passing of the saving along to the consumer in order to increase sales and make profits. During this period, there was pressure from the competitors, and there was a threat of reduced profits that motivated the US companies to reduce prices and maintain high levels of production. During this era, there was a lot of wasted land that needed to be exploited, yet wealth per capita was increasing at a high rate in Europe, and all available land was used. The neo-classists explained that there was equilibrium growth in terms of accumulated capital. This had put a lot of emphasis on savings as the main source of growth. Walrasian stated that, the net saving by the wealth-holders was shammed to be exactly balanced by net investment in additional production capacity. During the 19th century, industrial revolutions occurred; these included the invention of long distance transport, the steam engine, and the ...Download file to see next pagesRead More
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Jordanian Economic System History to Modern day
The paper will provide a detailed insight over projects that are being planned for the future to bring in greater level of development. In the past few years, Jordan has seen phenomenal economical growth as well as political stability. The history of Jordan dates back several thousand years and features prominently in many significant historical references.
9 Pages(2250 words)Term Paper
What Mary Surratt Did to Change U.S. History
This research paper gives information about Mary Surratt and the role she played in the USA history. Mary Surratt was born in a small town in 1823 and lived for 42 years. The woman was accused of taking part in the murder of Abraham Lincoln. Her blame was proved and she was executed trough a public hanging.
3 Pages(750 words)Term Paper
History of the U.S. - Iran relations
It is important to understand that Iran was undergoing tremendous internal political and social changes during the late nineteenth and twentieth century. It was hitherto a stable nation resistant to change. During this time, the foreign involvement of Britain and Russia signaled radical changes in the social and political systems of Iran.
8 Pages(2000 words)Term Paper
History of Security in the U.S
As mankind became more civilized, rulers begun appointing people to help in enforcing public and private security and this led to the evolution of early police. In ancient and modern times, the need for private security forces emerged from the need for individual additional protection for people and their property.
4 Pages(1000 words)Term Paper
History of Economic Thought
This theory also focuses on the role of exchange and circulation of commodities in the creation of wealth (Vaggi 2003, p.6). Vaggi also notes that Mun saw domestic trade as a way of redistributing the acquired wealth. The first notable mercantile ideal was the need to acquire overseas colonies.
5 Pages(1250 words)Term Paper
Canadian Economic History: Post-WWII Recession
The country not only experiences high economic growth rates but also depicts an excellent living standard for its individuals. The economy of Canada has various special features, which makes it way different from many other economies in the world. This term paper would focus on the economy of Canada after the recession during World War II (WWII).
12 Pages(3000 words)Term Paper
Economic Distribution in the U.S. ,Why The Rich get richer
worth millions of dollars, including credit loans, mortgages, car loans, educational loans, consumer loans etc and the other minority yet remarkable set of population, who have been, time and again featured in the Forbes richest people in the world list, such as Bill Gates,
5 Pages(1250 words)Term Paper
History on the start of the U.S. Air Mail
But the path from a conventional road or sea mail service system to the current air mail service system was painful. American postal department has to overcome lot of obstacle
10 Pages(2500 words)Term Paper
U.S History pre-1877
The movie is about the depressing features of nature as sunshine is seen in a very limited manner. There are clouds, which are present overwhelmingly everywhere, with grey skies, preparing to burst into tears. The nature is portrayed in this movie as a brute
5 Pages(1250 words)Movie Review
The economic analysis of the U.S. Endangered Species Act
The complete extension of some animal species and the disappearance of others led up to the wildlife conservation act that injected seamlessly into the public's conscious followed by the laws. Over the years, the structure of the act evolves to contain additional exception and exemptions.
5 Pages(1250 words)Term Paper
Let us find you another Term Paper on topic Pre-1924 U.S. Economic History for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us