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The Second Industrial Revolution, also known as the Technological Revolution, [1] was a phase of rapid scientific discovery, standardisation, mass production and industrialisation from the late 19th century into the early 20th century.
[2] [19] Late to adopt the interchangeable system were Singer Corporation sewing machine (1870s), reaper manufacturer McCormick Harvesting Machine Company (1870s–80s) [2] and several large steam engine manufacturers such as Corliss (mid-1880s) [20] as well as locomotive makers. Large scale of production of bicycles in the 1880s used the ...
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 ...
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]
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]
Per capita GDP grew at 2.2% a year, after accounting for inflation. [104] Money that would have been spent on imports—mostly cloth—was diverted to opening new factories, which were profitable since British cloth was not available. [28]: 335–40 This gave a major boost to the industrial revolution, as typified by the Boston Associates.
Tariffs have historically served a key role in the trade policy of the United States.Their purpose was to generate revenue for the federal government and to allow for import substitution industrialization (industrialization of a nation by replacing imports with domestic production) by acting as a protective barrier around infant industries. [1]
Map of the United States, 1870–80. Orange indicates statehood, light blue territories, and green unorganized territories. Grange poster hailing the yeoman farmer, 1873. A dramatic expansion in farming took place. [18] The number of farms tripled from 2.0 million in 1860 to 6.0 million in 1905.