American Economy After the Civil War - Case Study Example

(Assignment) My Business in the Gilded Period The term ‘prosperity’ was symbolized with the emergence of technical and economical development in America during the gilded period, the most advantageous time in the country’s history. American economy after the civil war was showing a tremendous progress with proportionate increase in its population during the three decades between 1870 and 1900. Gross Domestic Product of the country touched an envious growth level during that period with historic achievements in almost all economic ventures undertaken by the collective movement in industry, transportation and communication industry. The period between 1870 and 1920 during which America progressed can be considered as the best economic model for any country in the history. An imaginary journey to those lucrative periods of economic revolutions in the country invokes my earnest desire to make a very rich business set up in three different cities in America. If I had a time machine, I would set the time all the way back to the most glorious decade between 1870 and 1880 when the entry to any sort of business proved successful. The country showed a rapid progress during that period with the introduction of Business Corporations in mostly all the economic sectors1. It was when the country witnessed money rain from all sectors of industry and business with advanced use to technology in manufacturing and distribution sector. Hence it would be my decision to choose a promising transport industry to run one of the most profitable businesses with all possibilities of improved acceleration of income as the country had developed a solid transport system by then. Another field of my enthusiasm would surely be communication industry, because, a larger growth rate in population along with a high profile organizational frame work and interpersonal communication requirement of an enterprisingly mobile American population would nurture the tone of my industry with its scope of wider expansion in rather limited time. I have stronger appeal for my claims as references of American economic history reveals energizing facts that would support the effort of even a normal person to become a rich industrialist during those wishful times in the country’s history. For the easy presentation of my imaginative business policies for the past, I take the aid of this descriptive narration with detailed counters to demonstrate the economic sphere of the country as a relationship with industrial, social and political conditions of America during the audacious gilded time. A walk-back to those glorious times would definitely stand me rich enough to be generous towards construction of schools, colleges, hospitals and all possible public utility needs as done by many industrial giants of those times. Feasibility of transportation business The roller coasting process of American economic vitalization program focused much of its attention on improvised transportation as early as 1865. Statistical exploration reveals odd 35ooo miles of rail roads in 1865 being extended to 163000 miles by 18902. Topography of American main lands was so even that railroads linked all major cities in the country in less than 3 decades. Apart from rails, land roads were also taking rapid range of progress. Major concern for choosing a business in transportation would e based in the unlimited possibilities of its expansion in less than expected time. A relative corner of transport deals mostly with mobilization of people and trade of commercial goods. Coal, petroleum and essential minerals were found and trader-friendly goods during that period. In early 1870s, majority of rails road contractors became business tycoons as the government spent largely on the construction panel. My choice of business would be associated with moving goods from San Francisco to various part of the country by both rail and land road ways. This could be a fine selection as transport was totally aided by communication mechanism which was on the raise then. I would set up my transport business with a few trucks hired from large motor companies on lease basis. It can easily be seen that initial phase of all business was started with a collaboration of giant corporations. The business in railroads then proved the best possible option for any businessman; many of them left their shipping business and adopted the new lucrative field in railroad construction and operation. The rail road that stretched from New York to Buffalo had a number of profit zones that would support emerging transportation business. My personal point of view should always stick to a multi brand transport business which would run on a parallel track connecting the possibilities of both rail and land roads. This imagination can be supported with a better claim of unlimited scope of operation of business as every other form of commercial activity depends on transportation. For the promotion of a business in the transportation sector, I would link my deals with major coal distributors as they are the most potential team to work behind any transport unit. As a subsidiary unit of their infrastructure, I could make a better deal by undertaking on road movement of coal to different t rail segments. Railroad construction would make a huge profit but only for a large amount of investment. Transportation business dealing with coal and other industrial needs would prove a promising sector as the country was making fast progress in its industrial sector. Regularization of transport system would be a challenge in my business as the requirement of labor forces would touch a great height with increase in number of cities operated. Living in the period where I could get the going easier is enterprising. When I consider the growth of American economy during the gilded period as a parameter for setting up a business I have all reasons to say that transportation would be the best, because America was witnessing the best ever time in its riches. Right from construction of railroads to building schools, hospitals and all public utility centers, transportation plays a key role. Thus I can say I would only choose a solid pattern of transportation business to fix my stance in the profitable sector of the economy for a long time. Economic growth and politics during Gilded Period Ancient literature on American political set up reveals the flexible profile of political aid to capitalist economy. It was then mostly all present day giants woke up and acted for the promotion of new ventures. An initiator of a profitable business I would try to pick the best political lenience for the support of my fundamental establishment. Political barriers were prevalent in the past as the economy was growing at an awesome pace. Any attempt by anew comer to enter the market was disturbed by existing government. Those were the years Democrats ruled with maximum feasibility of scandals. Since the railroads were major funding source for political parties, contractors were relaxed of the quality norms by all major administrative forces governed by the Democrats. I would withdraw my attention to public sector investment in any period between 1880 and 1890 because political interference of fund management in almost every sector of public concerns had corrupted every deal with the influential power of the government in their hands. The Republicans, though challenged the scenario with advanced care for regularizing the fund flow in the country by 1890s, it was much late before any attempt could be made to prevent the most devastating economic damage born by the country. Great writers of American literature had mentioned in detail the conditions of America during that potentially feverish age. I would choose to spend much on my transportation business by inviting more people to invest in it for the reason that only a political amalgamation of labor forces could work well for the designation of a given mechanism. Overemphasize of political pressure and organized movement of labor groups against the management became a common phenomenon with the support mechanism of Chinese philosophical implications. My clearer concern for a developmental business focus would be based on a decentralized pattern of administration. Possible levels of employment bifurcation would see magnificent result in desired field as employee unions would get much time on speaking out their diplomatic drives in groups. My investment policies would be as stable as those of any steel giants or coal trader as I would have freedom to make effective balance of functional management in my business. Influence of political crises would shake my business with some deep impact in the growth and expansion as unstable government tenures and repeated spells of economic fluctuations of the country could affect it. Choosing transport based business is, in my opinion, very wise of that period where people would need it irrespective of their political beliefs and geographical location of their trade related establishments. However, an enterprising effort to regulate the business management during the politically unstable America of 1980s would prove profitable only if the Democrats were supported and funded largely for allotment of more freedom of my entry to new ventures. Their way of supporting capitalist business structure in the corporate sector would essentially help me in setting up numerous branches of extension business without many implications from government rules unlike the Republicans. All the more, I would like to underscore my interest of choosing a time back to the period between 1875 and 1885 because it must be considered the best period when an emerging transport company could make a solid stand in the potential American economic stream. I am clear about this calculation as those days were effectively less competitive and easily manageable without grave effort. Political conditions of America during that decade were liberal and judicial of the supporters’ favoritism. The favor of the party was always balanced its weight on the amount of donation and gravity of support given by potential businessmen. Therefore, I would gear up my efforts for grabbing their attention by funding parallel to all parties judicially and get better of my business opportunities without partial favoritism to either of them. My choice of telecommunication sector I would be lucky enough to be part of the most glorious period of American economic emergence. The gilded period took the country to the summit of world financial hub owing only to the formation of new ideologies in organizational management in its large business sectors. An auxiliary line of every industry should be an effective communication system. In business, it is important to see that messages among members in the chain pass efficiently. Business sector by all means, is a contemporary aspect of industry in any economy; they should walk hand in hand. American industrial sector between 1870 and 1920 emerged as the economic model for world countries. Several heavy industries were set up at a wink’s time and they flourished within a little time for reasons favored by the employability of communication devices in business line. My focus of setting up a communication based business would be on Detroit, which was a promising location for many industrial giants. Detroit’s possibilities of railroad and other means of transport systems would easily attract my investment for a high end communication business. This business model would prove profitable as every person spends 90 per cent of his active life in communication for one thing or the other. Taking this human element of communication as the theme line for business, it would be easy for me to ascertain the scope of my business in the decades later to come as well. I would choose the new model of this business because communication industry never considers differences in government or economic conditions of the country for its growth and expansion. There is strong support to base behind this thought; a change in the political condition is never directly proportionate to individual trends of life styles. Obtaining a patent for operating a communication network in a larger segment would prove tough with Boston claiming all rights for its home advantages. My assumption of the profitability of this business being set up in Detroit is emphatic as industries require the communicative technology rather than mere individuals as telephones were not very common those days for domestic use. Still, I stick to the same option because of the possible demand for telephones in domestic life with increasing population and mobility of people in search of better living conditions. I would consider the scope of this business unlimited in the future years of its inception. With advanced technology developing around the world and introduction of easier mechanism of communication, people would tend to consume the unlimited possibilities of such devices for making their life easier. As a progressive business proposal, I would make plans for connecting businessmen with customers and manufacturers with distributors of their products. Reduced time consumption and promptness of distribution would be my primary guarantee by implementing a communication system with the aid of telephones in the first stage. My interface as a customer relation centre with the network would definitely enhance their business and the favored clients are sure to build a long term relationship with me. Detroit’s possibility of industrial growth was a fact in the history. Hence improvised business plans and an effective management system within would prove my fate as a successful businessman in this stream. I would also connect hospitals, schools and all organized sectors of public activities where communication play an essential role for the expansion of my business and work out new strategies with guaranteed result to every customer. My vision for the period dating to consecutive decades from 1895 to 1915 would be based on a prosperous business network with extended business field covering all domestic customers within the frame. This imagination is guided with my assumed freedom of fixing the tariffs and charges on various services rendered to the customers being monopolistic since the government would liberate communication business for a meager amount towards patent every year. A similar unit of operation would be settled in New York as it could be expected as the economic capital of America. New York gets attention to my business dream as it engrosses several thousands of migrant businessmen every year. Main feature of this business model in New York would be its unconditional scope of working at the business capital of the country while staying connected to majority of the American cities. With this portal, I would claim a wide range of identity as a large sector telecommunication undertaking and make enormous profit by updating my business management with innovative ideas. Works Cited Calhourn, Charles William (Eds). The Gilded Age: Perspectives on the Origins of Modern America. (2nd Edition) US: Rowman & Littlefield, 2007. Print. Hillstorm, Kevin and Hillstorm, Laurie (Eds). Industrial Revolution in America 3 Volume Set: Communications. US: ABC-CLIO Inc, 2007. Print. Read More