How Did The Industrial Revolution Affect The American Economy
How did the Industrial Revolution Change the American Economy
Before the Industrial Revolution, the American economy was built on cotton plantations, hand-woven textiles, farming, fishing, and trade. Products were made by hand on farms and in homes. The Industrial Revolution changed how goods were produced which had a major impact on the American Economy both positively and negatively. The invention of machines, water power, and steam engines, for example, led to materials being produced more quickly while reducing the cost of production. Although many changes were being made, the South trailed the growth of the North. In the South, the economy came to rely on cotton and slave labor. Cotton became one of the greatest sources of wealth
Before the Industrial Revolution, the American economy was built on cotton plantations, hand-woven textiles, farming, fishing, and trade. Products were made by hand on farms and in homes. The Industrial Revolution changed how goods were produced which had a major impact on the American Economy both positively and negatively. The invention of machines, water power, and steam engines, for example, led to materials being produced more quickly while reducing the cost of production. Although many changes were being made, the South trailed the growth of the North. In the South, the economy came to rely on cotton and slave labor. Cotton became one of the greatest sources of wealth