The Rise of Big Business - 1522 Words

The Rise of Big Business The decades after the Civil War rapidly changed the face of the United States. The rapid industrialization of the nation changed us from generally agrarian to the top industrial power in the world. Business tycoons thrived during this time, forging great business empires with the use of trusts and pools. Farmers moved to the cities and into the factories, living off wages and changing the face of the workforce. This rapid industrialization created wide gaps in society, and the government, which had originally taken a hands off approach to business, was forced to step in. 1. Many individuals took advantage of the rapid industrialization and high influx of cheap labor in the form of immigrants. Among these†¦show more content†¦The federal government also aided in the development of a transcontinental railroad by offering compensation and land for each mile that Railroad companies built. Because of this, the United States was quickly brought together from east to west by the railroad. Time zones were implemented because the railroads needed a standard time to go by, a prime example of the power of change that industry possessed. Steel sprung up as a major industry in the late 19th century as well. Carnegie started his steel factories in Pittsburgh, opening many new jobs and aiding in the trend of urbanization. The steel industry flourished and in 1901 the United States Steel Corporation was worth over $1.4 billion, the country’s first billion dollar corporation. The oil industry also grew exponentially as America expanded. John D. Rockef eller created the Standard Oil Company, monopolizing the competition on the way to becoming the richest man in history. The demand for oil products was bolstered tremendously by the invention of the automobile and the gas powered engine gave the oil business a highly profitable market. One of the most influential inventions of the time period was the telephone, introduced by Alexander Graham Bell in 1876. An enormous communications network was rapidly constructed on this invention. The invention of telephones attracted many women from the home to work asShow MoreRelatedThe Rise of Big Business2958 Words   |  12 PagesToday, the Big Business is one of the main features of the modern economic environment. Big Business refers mainly to corporations, huge economic entities operating for profit and distributing the ownership by the means of stocks. The Big Business started to grow in America after the Civil War, in the 1860s and already reached its peak of strengths by the â€Å"roar ing† 1920s. Although Big Business faces much social and governmental control nowadays, its power is still enormous. Large business corporationsRead MoreThe Rise of Big Business in America2197 Words   |  9 PagesThe Rise of Big Business in America Danny Weiss FS American Economic History Before the rise of modern corporations, business owners predominantly personally managed most private economic operations. These small-scale operations had little influence outside their regional realm. Eventually, American capitalism evolved from a proprietary-competitive stage to a corporate-administered stage as a result of numerous factors. Economies of scale became more applicable with innovations in transportationRead MoreThe Rise Of The Big Business Transformed Rural America981 Words   |  4 Pages The rise of the Big Business transformed rural America to an industrialized urban nation that became to be known as the Gilded Age. During this time most Americans worked 10 to 16 hour shifts, 6 days out of the week with a wage that was below the poverty line. 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As Livesay states â€Å"he created that industrial colossus† (pg. vii), and I acknowledge that prominent feature thatRead MoreIndustrialization and the Rise of Big Business: Americas Transformation into an Economic Superpower2669 Words   |  11 Pagesbeginning of the 20th, transformed the production of most everyday goods. Ranging from food, clothing, appliances, and automobiles, the enormous output of industrial production led to the rise of big business as it coordinated methods of distribution and sales to forge an infrastructure for consumer culture. The rise of corporations, such as Carnegie Steel, J.P. Morgan, and Standard Oil, in the late 1800s, was able to dramatically shape the country politically, socially, and economically and evenRead MoreThe Progressive Era And Political Reform1330 Words   |  6 Pages The Progressive era was a period around 1890-1920, in which the rise of social activism became apparent as well as political reform. 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With malls franchises strips big box realtors increasingly dottingRead MoreEssay On Manifest Destiny1544 Words   |  7 Pagesfrom coast to coast. Manifest Destiny was mainly accomplished by the Monroe Doctrine, the annexation of Texas, and the Mexican-American War, but we were not a true continental power yet. After 1850, the Civil War, westward expansion, and the rise of big business made the United States a true continental power. By the time James Polk became president in 1845, an idea called Manifest Destiny had taken root among the American people. The belief that the U.S. had a God-given right to occupy and expandRead MoreThree Article Summaries and Analysis1588 Words   |  6 Pagescatastrophic backlog in the Toronto police background checks for students who would like to enter the RCMP after they graduate. This is a big problem for the students and for the RCMP. For the students it means that it will take longer for them to get the job that they have studied for and will have to wait a while for them to pay off the debt. The reason why this is a big problem for the RCMP is because they have to do a background check on anyone. The Toronto police get around 200 new requests for checksRead More colonization Essay1233 Words   |  5 Pagesof our society was built upon agriculture, and little else. The rise to corporate capitalism has had such a profound impact on American society, it is impossible to stud y any aspect of United States history post Civil War without a direct relation, on any level, to the industrial revolution. America would not be the superpower it is today had we not made the change from an agricultural society to an industrial one long ago. The rise of corporate capitalism radically changed the way Americans lived