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11 August, 16:51

What were the factors that transformed American economy from agrarian to industrial?

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  1. 11 August, 17:00
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    There are several factors that transformed the US economy in the 19th century:

    - Acquisition of new territories, westward expansion and access to new resources;

    - the construction of railroad networks from the East Coast to the West Coast that allowed fast transportation of goods;

    - invention of new devices and products that had massive demand;

    - increasing use of machines that replaced hand labor and large scale manufacturing which accelerated after the Civil War;

    - credit facilities by investors and bankers for businesses;

    - growing urbanization and rural migration to the large cities.
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