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Running Head: CREATING A WORLD POWER1Creating a World PowerHIS 204: American History Since 1865Instructor Melissa Hayes
WORLD POWER2Creating a World PowerWith the rapid industrial development of the U.S. economy, the American Industrial Revolution of the late 19thcentury drastically transformed industrial capabilities from new technologies. With mass-production methods designed to increase profitability, this reshaped American life by becoming an international leader in production. During the course of time, America’s economy has developed the nation towards solidarity. Events and developments which spearheaded economic development were the American Industrial Revolution, Progressivemovement, the Roaring Twenties, the Great Depression, the New Deal, Reaganomics and the Great Recession. They were key roles towards shaping and building the United States of America. Even through the nation’s challenging and threatening times, America found resiliencyand direction during these events and developments which strengthened and transformed the nation’s progress to becoming a World Power.The Industrial Revolution was notably a mark in economic history. As a distinct history phenomenon, this era paved the way for the future from a traditional economy (bartering, tradingand plantations) to a modern economy (services, finances and technology). With the existence ofindustrial regions, “indicated the possibility that the path towards industrialization may lie through the flexibility of highly skilled workers employed by small-scale entrepreneurs in “industrial zones” rather than mass production methods typical of the late 19th and early 20th centuries” (Industrial Revolution, 2003). Industrial Revolution’s rapid industrial market economy transitioned towards modern economy. In addition, this impacted the workers’ standards of living because of the industrialization caused longer work hours and family time disruption. Among the late 19thand early 20thcenturies, the emergence of big business and domination of concentrated industries attributed to the rise of American manufacturing
WORLD POWER3infrastructures and technology. With the economy undergoing rapid and sustained changes, largeorganizations “industry concentration came about because companies sought to increase their market power or to ease the debilitating consequences of market shocks” (Stack, 2002, p. 473). Larger mass-production factories replaced smaller markets operations because economic belief isthat mass production is efficiently organized. The most revolutionary social and economic developments of the last quarter of the nineteenth century increase were in industrialism and populace. The United States provided key inventors power over other nations. This sparked the “Golden Age” which was responsible for the American Industrial Revolution and the development of the corporation. Economic developments such as electrical power distribution and railroad design industry were important towards economic growth. For example, meats, grain, lumber and steel used trains for their