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By the late nineteenth century, the United States had become a leading global industrial power, building on new technologies (such as the telegraph and steel), an expanding railroad network, and abundant natural resources such as coal, timber, oil, and farmland, to usher in the Second Industrial Revolution.
[2] [3] [4] During this period the nation was transformed from an agricultural economy to the foremost industrial power in the world, with more than a third of the global industrial output. This can be illustrated by the index of total industrial production, which increased from 4.29 in 1790 to 1,975.00 in 1913, an increase of 460 times (base ...
The Second Industrial Revolution was a period of rapid industrial development, primarily in the United Kingdom, Germany, and the United States, but also in France, the Low Countries, Italy and Japan. It followed on from the First Industrial Revolution that began in Britain in the late 18th century that then spread throughout Western Europe.
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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]
At the same time industrialization and the transportation revolution changed the economics of the Northern United States and the Western United States. Heavy immigration from Western Europe shifted the center of population further to the North. Industrialization went forward in the Northeast, from Pennsylvania to New England.
Technical Revolution or Second Industrial Revolution (1870–1920) Scientific-technical revolution (1940–1970) Information and telecommunications revolution, also known as the Digital Revolution or Third Industrial Revolution (1975–2021) Some say we’re on the brink of a Fourth Industrial Revolution, aka “Technological Revolution” (2020s)
The number of rich families climbed exponentially, from 100 or so millionaires in the 1870s to 4,000 in 1892 and 16,000 in 1916. Many subscribed to Andrew Carnegie 's credo outlined in The Gospel of Wealth that said they owed a duty to society that called for philanthropic giving to colleges, hospitals, medical research, libraries, museums ...