The End of Affluence

The pole of Affluence As the first European settlers arrived in America, ideas of riches and prosperity were in full implanted in their minds. These ideas soon sour into reality, and the United States dominated the global economy up until the trademark World War II days. In this paper, from the Book The End of Affluence by Jeffery Madrick, we will discuss how America has gone(a) from domination of the sparing market , to just barely interruption on, and the many roads both good and bad that it took. In the 1800’s a young historian by the give ear of Frederick Jackson Turner proclaimed that once Americas land had been purchased and fully cultivated, the deterioration of America would begin. Jackson was not alone in thinking this, many of his peers and colleagues had the same views and beliefs, provided were proven victimize with the foot of the Industrial Revolution. This new era introduced an abundant get along of shortcuts in the area labor and labor saving devices. The introduction of these devices meant that a company could now save on salaries, but still increase productivity. The results of this new way of business were evident, the years between 1790 and 1807 showed American exports rising from 20 one million million million to 108 million exported goods a year.

The increase in exported goods was not only receivable to the new inventions, but alike the high tariffs placed on imports, giving America a trade surplus. This increase in trade not only brought about wealth and economic growth, but also revolutionized inventions. One of the largest examples, is the introduction of the railroad, and the tremendous answer it had on the trade of goods. This revolutionary invention enabled the transportation of goods to produce quicker, and opened new markets. The ability to transport goods quickly also returned a quicker profit enabling the seller to bowlful his money over into other items. This new and speedier cycle of buying and selling strengthened the American economy even more,... If you emergency to get a full essay, order it on our website: Ordercustompaper.com

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