The Industrial Revolution And The Effects Of The Industrial Revolution
This trade secret would allow Britain to have a upper hand in trade and their markets were untouchable until the secret was leaked. The trade secret made its way to the United States of America through a man named, Samuel Slatter (Manzione, "Lecture"). Slatter was a British engineer that had developed factories for fifteen years until he fled for his life, because of an affair with a noble’s wife. When Samuel came to the United States, a businessman who sold textiles proposed if Slatter could build a factory for him, then the businessman would make Slatter rich for life. Factories were built and he was made rich. This first factory proved to be a huge change for the American economy, and allowed for lives to be changed through the increase of efficiency that the factory system brought to America. The factory system allowed for a higher amount of organization, patterning of production (assembly line), and allowed for a higher sense of security to its employees through wages. All three of these factors were a huge boost for efficiency within the American …show more content…
The decrease of prices allowed for more people to buy the goods, which allowed for more money to circulate in the economy, and further stimulated immeasurable growth within American society during the 18th and 19th centuries. From the growth of the markets, there were more sales, which enabled more profits for the business owners. The profit that was gained through this allowed for more research and development; which further allowed for new technology to be developed to increase efficiency within the factory systems. Technology advances like the spinning jenny and the mechanical loom allowed for higher efficiency, but replaced human labor.
There was an increase of manufacturing products, but the goods could not be transported on land very easily until the railroad was built. Once the railroad was established goods could more efficiently get across the United States, and trade was increased from a local level to a national and global level. By 1880s’, the national economy had fully matured due to the industrial revolution (The American Yawp). Dr. Manzione in his lectures stated that, “the economy was integrated by transportation and communication and allowed large scaled transport and community networks (Manzione,