Economics & Policits

In what specific ways did the Industrial Revolution change the US economy ? How is the Information Revolution changing the economy once again

The 1700s and the early 1800s were critical times for the US economy because of the industrial revolution . The development of industrialization allowed the United States to take full advantage of the wealth that it had in natural resources and raw materials . The resulting increase in production as well as the rapidly growing population of the United States spurred the growth of the American economy . From hard manual labor

, factories and industries were now being put up that could produce an exponential rate more than conventional methods such as hand crafting . The increased production and resulting economic boom had a profound effect on the American economy as it fueled a consumer driven economic growth that was caused by more jobs and steady income for workers . It raised the standard of living which further fueled the American economic growth during that era . Specific industries that benefited from this were the textile sector , the steel sector , and the manufacturing sector in general as they provided more jobs to Americans and a higher standard of living

The Information Revolution is changing the world because it is removing traditional boundaries to trade . Where in the past there existed geographical and political barriers , trading of stocks and other financial instruments can occur at the speed of light . This era has seen the emergence of economies that are dependent solely on trading and other...