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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 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.
The Great Deflation occurred at the beginning of the period sometimes called the Second Industrial Revolution.It was characterized by dramatic increases in productivity made possible by the transition from agriculture to industrialization in the leading economies.
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 ...
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.
The economic history of the United States spans the colonial era through the 21st century. The initial settlements depended on agriculture and hunting/trapping, later adding international trade, manufacturing, and finally, services, to the point where agriculture represented less than 2% of GDP.
The history of the United States from 1815 to 1849—also called the Middle Period, the Antebellum Era, or the Age of Jackson—involved westward expansion across the American continent, the proliferation of suffrage to nearly all white men, and the rise of the Second Party System of politics between Democrats and Whigs.
This Second Industrial Revolution gradually grew to include chemicals, mainly the chemical industries, petroleum (refining and distribution), and, in the 20th century, the automotive industry, and was marked by a transition of technological leadership from Britain to the United States and Germany.