The unprecedented levels of production in domestic manufacturing and commercial agriculture during this period greatly strengthened the American economy and reduced dependence on imports. The Industrial Revolution resulted in greater wealth and a larger population in Europe as well as in the United States.
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what role did entrepreneurs play in the industrialization of the U.S. and why were they willing to invest their money in American companies? new inventions would not have been possible without them willing to risk their money to help develop and implement their inventions.
Pro: Goods Became More Affordable and More Accessible As the supply of various items rose, their cost to the consumer declined (see supply and demand). Shoes, clothing, household goods, tools, and other items that enhance people’s quality of life became more common and less expensive.
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The need for unskilled laborers was reduced by the invention of machines to replace the workers. The labor organizations tried to stop the competition of the machines versus people. Or at least slow it down so many people did not lose their jobs because they were replaced by a machine.
The material needs of the railroads helped create several other big industries, such as iron, steel, copper, glass, machine tools, and oil. Soon, Wall Street had to be reorganized into a national money market, capable of handling the enormous capital that was needed to build and operate the railroads.
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The Interstate Commerce Act addressed the problem of railroad monopolies by setting guidelines for how the railroads could do business. The act became law with the support of both major political parties and pressure groups from all regions of the country.
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How did railroads affect western settlement in the late 1800’s? Railroads provided construction jobs and then connected markets throughout the nation. How did western settlement affect Native Americans? Western settlement continued to force Native Americans from their lands.
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Settlers created advanced irrigation systems to water their farmland. Cattle drives caused problems of overgrazing, making the land only suitable for farmland.
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How did Western settlement affect Native American lives? Native Americans fought battled with settlers. Eventually they were forced to live on reservations. The nomadic lifestyle of many Plains Indian tribes was eliminated.
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How did consolidation affect the railroad industry and influence modern business practices? It created a sense of unity within an industry. It made regulation easier. It provided the means for better organization.
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How did the growth of the western population and innovations in farming and ranching impact the Plains Indians. How did the Plains Indians resist? Once the pioneers decided to expand out west, the Indians that lived in those areas were forced into reservations with very little resources, and poor treatment.
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What happened as the population grew in western territories? New states such as Colorado, the Dakotas, and others were admitted. In the late 1800s, what did cowboys, miners, and railroad workers have in common? All faced danger and hardships.
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Land, mining, and improved transportation by rail brought settlers to the American West during the Gilded Age.
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What was the effect of the growth of railroads in the 1850s? New industries, like telegraph communications, flourished. Who tended to benefit from America’s impressive economic growth in the early nineteenth century?
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The westward development of the railroad system shortened cattle drives. The first rail-transported cattle were shipped from Abilene, Kansas in 1867. Other rail centers were soon established. Thereafter, thousands of animals were moved along the various cattle trails which led to these shipping points.
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Farmers believed that interest rates were too high because of monopolistic lenders, and the money supply was inadequate, producing deflation. A falling price level increased the real burden of debt, as farmers repaid loans with dollars worth significantly more than those they had borrowed.
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The Interstate Commerce Act showed that Congress could apply the Commerce Clause more expansively to national issues if they involved commerce across state lines. After 1887, the national economy grew much more integrated, making almost all commerce interstate and international.
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The Interstate Commerce Act of 1887 is a United States federal law that was designed to regulate the railroad industry, particularly its monopolistic practices. The Act required that railroad rates be “reasonable and just,” but did not empower the government to fix specific rates.
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The monopoly pricing creates a deadweight loss because the firm forgoes transactions with the consumers. Monopolies can become inefficient and less innovative over time because they do not have to compete with other producers in a marketplace. In the case of monopolies, abuse of power can lead to market failure.
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Similar to the effects of a merger, monopolies often drive smaller companies out of business. When one company dominates a given market, it can control the prices of products. Because most monopolizing companies are extremely large, they can afford to lower their prices to the point that no small business can compete.
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The effects of monopoly enrage voters in their day-to-day lives, as they face the sky-high prices set by drug-company cartels and the abuses of cable providers, health insurers, and airlines. Monopoly provides much of the funds the wealthy use to distort American politics.
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The disadvantages of monopolies include price-fixing, low-quality products, lack of incentive for innovation, and cost-push inflation.
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Monopolies are bad because they control the market in which they do business, meaning that they don’t have any competitors. When a company has no competitors, consumers have no choice but to buy from the monopoly.
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Supply can be restricted to keep prices high. This leads to underprovision, or scarcity. Thus, according to general equilibrium economics, a monopoly can cause deadweight loss, or a lack of equilibrium between supply and demand.
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Why are monopoly’s harmful to consumers? It is harmful to consumers because there is no government intervention. Instead,a monopoly has the freedom to establish any price it wants and is often a price that yields the largest possible profit.
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With the growth of factories and the demand for unskilled labor, immigrants, primarily young men in the working years, continued to be the ideal source of labor. Immigrants were generally more willing to accept lower wages and inferior working conditions than native born workers (Zolberg 2006: 69).
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How did tyrants sometimes lose power? They were overthrown by the people. How were laws developed in a monarchy? The king made them.
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How did Tyranny governemnet decline in ancient Greece? Some became greedy and harsh and were overthrown. How was Democracy practiced in ancient Greece? Athens was the birth place Citizen Assembly made up of all male citizens..
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tyrant, Greek tyrannos, a cruel and oppressive ruler or, in ancient Greece, a ruler who seized power unconstitutionally or inherited such power.
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A tyrant (from Ancient Greek “ύραννο,, tyrannos), in the modern English usage of the word, is an absolute ruler who is unrestrained by law, or one who has usurped a legitimate ruler’s sovereignty. Often portrayed as cruel, tyrants may defend their positions by resorting to repressive means.
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Tyrants usually took and kept control by force. But that doesn’t mean they were always unpopular. Most Greek tyrants were military leaders who gained the support of the people by promising them more rights.
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Monarchial rule ” that is, rule by a king ” was overthrown in ancient Greece because the monarchs’ wealthy advisers and others in the aristocracy began to challenge the hereditary right of kings.
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Ancient Greece was one of the dominant civilizations in the Mediterranean and the world for hundreds of years. Like all civilizations, however, Ancient Greece eventually fell into decline and was conquered by the Romans, a new and rising world power.
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Some tyrants were well liked because of their military might to lead people to more rights and they helped the poor. What gave tyrants the ability to rule? Nothing but force gave tyrants the ability to rule every tyrant forcing himself in to the throne.
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Peasants often supported the tyrants because they were told what do to by the aristocrats and this caused them to go into a lot of debt, so when a new leader stepped in they would vote for them to try to get out of their mess.
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Decisions, in a dictatorship, are made by the dictator or their appointees.
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Aristocrats who seized control with wealthy non-aristocrats who had been excluded from power. These tyrants overturned established aristocracies or oligarchies and established new ones. Since their power was based on elevating the excluded members of society, these tyrannies sometimes led to democracy.
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World map indicating the seven countries labeled as “outposts of tyranny” (shown in green ) by the United States government (shown in blue ) in 2005: Belarus, Cuba, Iran, Myanmar, North Korea and Zimbabwe.
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The Greek language has contributed to the English lexicon in five main ways: vernacular borrowings, transmitted orally through Vulgar Latin directly into Old English, e.g., ‘butter’ (butere, from Latin butyrum
< βού"...ρον), or through French, e.g., ‘ochre’;
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Land owning nobles seized power from kings. Nobles ruled the city states for a long time. Gave citizenship to Athens who didn’t own land. Males could join assembly and vote for laws.
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Tyrants were able to stay in power because they had strong armies and because the people supported them. After Peisistratus died, his son took over as tyrant. Many aristocrats, however, were unhappy because their power was gone. Some of these aristocrats convinced a rival city-state to attack Athens.