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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.
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]
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.
Lacrimae rerum (Latin: [ˈlakrɪmae̯ ˈreːrũː] [1]) is the Latin phrase for "tears of things." It derives from Book I, line 462 of the Aeneid (c. 29–19 BC), by Roman poet Virgil (Publius Vergilius Maro) (70–19 BC).
Even as America's westward expansion allowed over 400 million acres (1,600,000 km 2) of new land to be put under cultivation, between 1870 and 1910 the number of Americans involved in farming or farm labor dropped by a third. [87] New farming techniques and agricultural mechanization facilitated both processes.
The Great Deflation or the Great Sag refers to the period from 1870 until 1890 in which the world prices of goods, materials and labor decreased, although at a low rate of less than 2% annually. [1] This was one of the few sustained periods of deflationary growth in the history of the United States. [citation needed]
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]
Aeneas Flees Burning Troy, by Federico Barocci (1598). Galleria Borghese, Rome, Italy Map of Aeneas' fictional journey. The Aeneid (/ ɪ ˈ n iː ɪ d / ih-NEE-id; Latin: Aenēĭs [ae̯ˈneːɪs] or [ˈae̯neɪs]) is a Latin epic poem that tells the legendary story of Aeneas, a Trojan who fled the fall of Troy and travelled to Italy, where he became the ancestor of the Romans.