Industrial and Information Revolutions Effect on US Economy
The industrial revolution changed the U.S economy in several ways. During the revolution, several innovations were made which greatly changed the way society operated, turning the U.S from an agrarian society into a highly industrialized economy. Steam power made the running of machinery faster, improving both agricultural and industrial growth. Factories and industries spread in major urban centers, creating employment and attracting rural-urban migration. The massive growth of industries and factories, combined with the manufacture of steel, gave way to rail-road building and road construction enabling easier movement of people and goods.The urban population, in turn, provided a ready market for the manufactured goods and also led to the development of new and better housing.
The demand for skilled labor led to better public education, while steam power enabled the growth of the printing industry and massive publications of books and newspapers, which reinforced rising literacy needs among the growing populations. Means of communication improved with the innovation of the telephone and telegraph, and the U.S was opened for trade with other parts of the world. Over the last few decades, the sectors of communication and computer technology have been going through unprecedented progress. The information sector has become the core of economic growth and output, and computerization has affected every sphere of U.S society. Improved means of communication such as email and internet, telephones, computers, mobile telephones have not only enhanced interaction but also better ways of doing business. Globalization has been made easier, linking the U.S economy to other parts of the world so that her market has spread out over a wide region.