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In both the North and South, modernization and industrialization were the focus of the post-war recovery, built on the growth of cities, railroads, factories, and banks and led by Radical Republicans and former Whigs. [31] [32] The distribution of wealth per capita in 1872, illustrating the disparity between North and South in that period
The Industrial Revolution altered the U.S. economy and set the stage for the United States to dominate technological change and growth in the Second Industrial Revolution and the Gilded Age. [28] The Industrial Revolution also saw a decrease in labor shortages which had characterized the U.S. economy through its early years. [29]
One of the real impetuses for the United States entering the Industrial Revolution was the passage of the Embargo Act of 1807, the War of 1812 (1812–15) and the Napoleonic Wars (1803–15) which cut off supplies of new and cheaper Industrial revolution products from Britain. The lack of access to these goods all provided a strong incentive to ...
A Fierce Discontent: The Rise and Fall of the Progressive Movement in America, 1870–1920 (2003) Mowry, George. The Era of Theodore Roosevelt and the Birth of Modern America, 1900–1912. survey by leading scholar; Pease, Otis, ed. The Progressive Years: The Spirit and Achievement of American Reform (1962), primary documents
The National Bureau of Economic Research declared the end of this recession over a year after the end date. [79] The Dow Jones Industrial Average finally reached its lowest point on March 9, 2009. [80] COVID-19 recession: February 2020 – April 2020 [81] [82] [83] 2 months 10 years 8 months 14.7% (April 2020) [84] −19.2% [85]
Some historians believe the Industrial Revolution was an outgrowth of social and institutional changes brought by the end of feudalism in Britain after the English Civil War in the 17th century, although feudalism began to break down after the Black Death of the mid 14th century, followed by other epidemics, until the population reached a low ...
Industrialisation through innovation in manufacturing processes first started with the Industrial Revolution in the north-west and Midlands of England in the 18th century. [5] It spread to Europe and North America in the 19th century.
[9]: 88–100 A combination of domestic and foreign investment along with the discovery of gold and a major commitment of America's public and private wealth, enabled the nation to develop a large-scale railroad system, establishing the base for the country's industrialization.