The Period Of Fast Economic Growth In The Late 19th Century

The gilded age was the period of fast economic growth in late 19th century. During that period, national railroad and communication network was developed, and the corporation became the leading form of business organization. Many small manufacturing factories became corporation and people started to work in those industries rather than in the farm. The wage rate for the skilled worker was better than the many European countries so immigrants from many European countries were came to the The gilded age was the period of fast economic growth in late 19th century. During that period, national railroad and communication network was developed, and the corporation became the leading form of business organization. Many small manufacturing factories became corporation and people started to work in those industries rather than in the farm. The wage rate for the skilled worker was better than the many European countries so
The industrial revolution is a transformation in the sense how the goods were produced and sold by using technological and financial innovation, which suddenly extended their markets and their ability to manufactured goods (Schultz 292). Two main outcomes of this transformation were: (i) many Americans quit farming and started to work in the factories, which prompted the rapid growth of cities; (ii) the economy is started to control by big corporations rather than small family businesses (Schultz 292). The main rising industries of that period were railroads, steel, petroleum and garments. As the railroad expanded all over the country, the national market was developed as well. The development of national market helped consumers to provide more and more goods easily. As the many corporations were formed, federal and state governments made changes in corporate