American Capitalism And The American Economy Essay

793 Words Oct 26th, 2015 4 Pages
The early twentieth century was marked as one of most prosperous eras in American history where the American economy had risen to become one of the wealthiest on the planet. While the rapid expansion of American capitalism led to profound wealth for many in the ruling class, the unjust treatment of workers and labor unions demonstrated the limits of prosperity during 1910s and 1920s. With the lack of government support and intervention, American workers and unions witnessed some of the most violent labor conflicts in the nation 's history. Not only were they suppressed into virulent conditions, political and social reform were also stagnated and languished in despair. However, by the eve of World War II, the American economy had undergone such a large transformation that it would upset the political and social dynamic of the country. As noted by Melvyn Dubofsky and Joseph A. McCartin in their book American Labor: A Documentary Collection, the shift in government intervention is what liberated “working-class Americans from decades of economic uncertainty, political marginalization, and callous treatment at the hand of employers” (Dubofsky & McCartin 139). From the beginning of the twentieth century to the end of Roaring Twenties, political reform and effective labor organizing was stagnated by both government inaction and decline in union membership that would eventually persist until the introduction of welfare capitalism and improved labor relations in the New Deal in the…

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