The better working conditions, the increase in working population, and more technological advancements helped produce products and goods at a faster rate which led to a larger market and higher demand of goods, as the demand for more goods created more jobs. More jobs brought upon more factories and competition between companies which caused them to cut costs and win customers led to a drop in prices overall. The money supply could not keep up with the production, which ultimately caused high interest and less credit availability. Another supplier of the growth of jobs and produce is the most prolific evidence of the Industrial Revolution’s impact being human population growth. Humans have been around for about 2.2 million years. By the end of the first millennium AD, estimates place the total world human population at around 200 million and 300 million in the year 1,000. The population of the United States population is 312,000,000 as of August 2011 and is rapidly growing at an fast and unhealthy rate bringing us to around 7.5 billion today. The world human population growth rate would be about .1 percent (.001) per year for …show more content…
If the American Revolution spurred the birth of a nation, the Industrial Revolution marked that nation’s growth into maturity. The Industrial Revolution altered all aspects of American life, from the economy to politics and the fabric of society itself. Prior to the Industrial Revolution, America possessed a predominantly agrarian economy and generated wealth through the trade of tobacco, and resources such as lumber, minerals, fur and fish. England, rich in resources thanks to its colonial acquisitions, benefited from a series of technological breakthroughs to become the world’s first industrial power in the late 18th century. Though the English attempted to monopolize their technology and skilled labor through legislation, industrialization spread throughout Europe and reached America. The Second Industrial Revolution, which took place roughly between 1870 and 1914, established the United States as the world’s foremost industrial power. Most 18th century Americans lived in self-sustaining rural communities. The Industrial Revolution witnessed the evolution of large urban centers, such as Boston and New York City, and spurred a massive internal migration of workers. The Industrial Revolution also stimulated the rise of unskilled labor. Prior to the 19th century, most Americans not employed in agriculture performed some kind of skilled trade.