America wasn 't discovered, it was built by a group of innovative, young business men who were often referred to as America’s first captains of industry. In 1865, towards the end of the civil war, America was seen as a failing nation and as an unsuccessful democracy on the brink of collapse. However, from 1865-1914, America experienced an incredible period of growth which transformed this nation into the most powerful country in the world. During this time frame, the American economy increased by an unprecedented four hundred percent, and the nation experienced a period of industrial and economic expansion and innovation which had never been seen before (Mintz, McNeil. This period of progress can be attributed to a collection of business
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In fact, between the years 1890 and 1929, the average American worker made three times more in wages than in previous years, and earnings rose by almost sixty percent (Mintz, McNeil). In addition, between 1869 and 1910, the net worth of American manufacturing skyrocketed from three to thirteen billion dollars (Mintz, McNeil). During this time frame, manufacturing production was on the rise as the steel industry went from producing just 48,000 tons of steel annually to 4.2 million tons (Mintz, McNeil). Millions of immigrants flooded the United States in hopes of a better life and opportunities that America had to offer. This economic development can, no doubt, be attributed to the amazing minds, dreams, and aspirations of Andrew Carnegie and John D. Rockefeller as they advanced the development of steel, rail, and oil industries. Additionally, these men understood the needs of the nation as they aimed to lower prices to provide additional economic expansion. For instance, John D. Rockefeller created Standard Oil, a national corporation that controlled over 90% of U.S. oil production, he was able to cut the price of oil from 58 cents to 8 cents (Folsom). In fact, John D. Rockefeller often said, “We are refining oil for the poor man, and he must have it good and cheap” (Folsom). In fact, Rockefeller was …show more content…
"John D. Rockefeller and the Oil Industry." John D. Rockefeller and the Oil Industry. Foundation for Economic Education, 01 Oct. 1988. Web. 11 Oct. 2016.
Levenick, Christopher. "Seven Myths about the Great Philanthropists | Excellence in Philanthropy | The Philanthropy Roundtable." Seven Myths about the Great Philanthropists | Excellence in Philanthropy | The Philanthropy Roundtable. Philanthropy Roundtable, 2011. Web. 11 Oct. 2016.
Mintz, Steven, and Sara McNeil. "The Rise of Big Business." Digital History. Digital History, n.d. Web. 11 Oct. 2016.
Moody, John. The Railroad Builders: A Chronicle of the Welding of the States,. Vol. 38. N.p.: Yale UP, 1921. Print.
Orday, Robert. "The Evolution of Assembly Lines: A Brief History." Robohub. Velocity Farm, 24 Apr. 2014. Web. 11 Oct. 2016.
Steckel, Richard. “A History of the Standard of Living in the United States”. EH.Net Encyclopedia, edited by Robert Whaples. July 21, 2002. <
In fact, between the years 1890 and 1929, the average American worker made three times more in wages than in previous years, and earnings rose by almost sixty percent (Mintz, McNeil). In addition, between 1869 and 1910, the net worth of American manufacturing skyrocketed from three to thirteen billion dollars (Mintz, McNeil). During this time frame, manufacturing production was on the rise as the steel industry went from producing just 48,000 tons of steel annually to 4.2 million tons (Mintz, McNeil). Millions of immigrants flooded the United States in hopes of a better life and opportunities that America had to offer. This economic development can, no doubt, be attributed to the amazing minds, dreams, and aspirations of Andrew Carnegie and John D. Rockefeller as they advanced the development of steel, rail, and oil industries. Additionally, these men understood the needs of the nation as they aimed to lower prices to provide additional economic expansion. For instance, John D. Rockefeller created Standard Oil, a national corporation that controlled over 90% of U.S. oil production, he was able to cut the price of oil from 58 cents to 8 cents (Folsom). In fact, John D. Rockefeller often said, “We are refining oil for the poor man, and he must have it good and cheap” (Folsom). In fact, Rockefeller was …show more content…
"John D. Rockefeller and the Oil Industry." John D. Rockefeller and the Oil Industry. Foundation for Economic Education, 01 Oct. 1988. Web. 11 Oct. 2016.
Levenick, Christopher. "Seven Myths about the Great Philanthropists | Excellence in Philanthropy | The Philanthropy Roundtable." Seven Myths about the Great Philanthropists | Excellence in Philanthropy | The Philanthropy Roundtable. Philanthropy Roundtable, 2011. Web. 11 Oct. 2016.
Mintz, Steven, and Sara McNeil. "The Rise of Big Business." Digital History. Digital History, n.d. Web. 11 Oct. 2016.
Moody, John. The Railroad Builders: A Chronicle of the Welding of the States,. Vol. 38. N.p.: Yale UP, 1921. Print.
Orday, Robert. "The Evolution of Assembly Lines: A Brief History." Robohub. Velocity Farm, 24 Apr. 2014. Web. 11 Oct. 2016.
Steckel, Richard. “A History of the Standard of Living in the United States”. EH.Net Encyclopedia, edited by Robert Whaples. July 21, 2002. <