American Economy After The Industrial Revolution

The development of the American economy after the Civil War was very sporadic, and contained both good and bad throughout the whole of the development. Because of the development of the economy, the economy today is much better than it was then. Then, monopolies of industries were common, but were also quite hated because of many restrictions placed on employees of those who monopolized industries. Men who controlled industries, and their economies, were appropriately named “Captains of the Industry”. Labor unions were formed in protest of how poorly employees were treated. The development of the American economy was good for the whole of the nation, and the development then ripples into today. Industries after the Civil War were rapidly growing, creating more profit for business owners each day. As a part of the Industrial Revolution, as more people left farm work, and began working in factories, which also grew cities at a high rate (Schultz, 2014). As the …show more content…
Rockefeller and Carnegie used unskilled men to do their work, and paid the employees almost nothing. Because Rockefeller and Carnegie monopolized their industries, their employees couldn’t go to a competitor and receive better payment. They did what it took to be the best especially Rockefeller (Frost, 2000). Labor unions were formed in protest of how employees were being treated in factories, and by big business owners. Labor unions worked to resolve basic issues in the businesses such as safety on the job, job security, and equal pay. Labor unions were established to protect the common interests of workers. Labor unions were widely liked by common people, and hated by big business owners. Labor unions grew throughout the whole United States because all workers believed that they deserved to be treated better than they were being treated then. (Wagner,