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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]
The factory system contributed to the growth of urban areas as large numbers of workers migrated into the cities in search of work in the factories. Nowhere was this better illustrated than the mills and associated industries of Manchester, nicknamed " Cottonopolis ", and the world's first industrial city. [ 162 ]
Between 1800 and 1820, new industrial tools that rapidly increased the quality and efficiency of manufacturing emerged. Simeon North suggested using division of labor to increase the speed with which a complete pistol could be manufactured which led to the development of a milling machine in 1798.
Between 1820 and 1840 the number of people who worked in manufacturing increased eightfold. [ 3 ] Although most of the original Lowell mill girls were laid off and replaced by immigrants by 1850, the grown, single women who had been used to earning their own money ended up using their education to become librarians, teachers, and social workers.
From 1700 to 1774, the output of the thirteen colonies increased 12-fold, giving the colonies an economy about 30% the size of Britain's at the time of independence. [5]: x-1 Population growth was responsible for over three-quarters of the economic growth of the British American colonies.
The rapid expansion of industrialization led to real wage growth of 40% from 1860 to 1890 and spread across the increasing labor force. The average annual wage per industrial worker (including men, women, and children) rose from $380 in 1880 ($11,998 in 2023 dollars [ 1 ] ) to $584 in 1890 ($19,126 in 2023 dollars [ 1 ] ), a gain of 59%. [ 2 ]
One outcome of this was an increase in the overall amount of energy consumed within the economy, a trend which has continued in all industrialised nations to the present-day. [ 7 ] The accumulation of capital allowed investments in the scientific conception and application of new technologies , enabling the industrialisation process to continue ...
The American system of manufacturing was a set of manufacturing methods that evolved in the 19th century. [1] The two notable features were the extensive use of interchangeable parts and mechanization for production, which resulted in more efficient use of labor compared to hand methods.