It has been said that that the railroad was this one such invention, but despite its dramatically rapid and massive growth it did not on its own make an overwhelming contribution to the production potential of the economy. The author believed that economic growth was a consequence of the knowledge that was acquired during the course of the scientific revolution that occurred during the seventeenth, eighteenth and nineteenth centuries. This knowledge provided a basis for the many innovations that were applied to economic processes. All of these developments in fact began before the birth of the railroad. The author concludes that the railroad was a part rather than a condition for the Industrial Revolution. It emerged out of a widespread effort to apply scientific and technological knowledge to the improvement of products and the reduction of overall costs. The search for new methods was distinguished not only by the vigor...
Because of the fact that the operation of the economy has adjusted to the selected processes, business success will frequently depend on the speed and effectiveness with witch companies adapt to these arrangements. At the time of the invention of the railroad cheap inland transportation a necessary condition for economic growth. Satisfaction of this need did not specify a specific form of transportation, but just that there was one. The fact that this need was satisfied with the invention of the railroad and not some other form of transportation determined not whether growth would take place, but which of the many growth routes that would be followed.
American West United States became one of the most industrialized nations and sought to grow its industries at an alarming rate. For this purpose, the western part of United States, which had not yet been discovered, was subjected to massive development, economic growth, formation of industries and allowing settlers to move towards the west. Railroads played a significant role in contributing towards the development and urbanization of America's West. The goal
Railroad Land Grants: Economically Justified? The American government's land grant policy and provision of subsidies to private railroad companies in the nineteenth century has been the subject of much discussion by historians and economists alike. However, few writers have examined the economic issues involved in the subsidies in detail, leading at times to the wrong conclusions. Lloyd J. Mercer, a Professor of Economics at the University of California (Santa Barbara) is
Railroad Maps Describe the economic opportunities beckoning newcomers in all regions of the country as a result of industrialization, urbanization, and immigration. The expansion of the nation's railroads by 1870, helped to fuel a tremendous amount of economic growth westward. as, the nation was rapidly developing regions that were considered to be difficult due to: adverse weather conditions, vast distances and the possibility of violence from Indian attacks. Once the railroad was
This developed later into selling feeder stock to U.S. where the costs of feed were less. In terms of agriculture, Canada does not have a suitable climate to grow corn, and during the 1890s there was the change in cultivation through the use of a new variety of wheat called 'red fyfe' that has a short growing season. This also provided better prices for the farmers and was suited
American History The Reconstruction exacerbated the regional differences between the northern and southern states. The exact conflicts that led to the Civil War in the first place remained for decades after General Lee surrendered at Appomattox, and shortly after President Lincoln was shot dead. The Reconstruction project illuminated the still-existing conflicts between Lincoln's successor Andrew Johnson and the Republican congress. Johnson attempted to straddle the fence and simultaneously appease the South
Unemployment b. Deflation c. High railroad rates d. Rising interest rates 14. Which issue led to the organization of the Populist Party? a. The desire to lift the burden of debt from farmers and other workers b. The collapse of the Second Bank of the United States c. An increase in immigration d. Limited availability of land in the West for use by new farmers 15. Which factor contributed most to the passage of the Chinese Exclusion Act
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now