Influences on the American Economy

The virtually uninterrupted process of industrialization in America, which may be said to have begun with the introduction in the eighteenth century of interchangeable parts, which in turn eliminated home industry as a principal factor of American commerce, has had profound impact on the history of political and social economy in the country from 1800 onward. Wiltse positions the onset of aggressive American industrial development from before the War of 1812:

Profits wrung from neutrality by elusive Yankee Traders had been immobilized by the embargo and the war. For want of better employment they had been invested in manufacturing ventures to the tune of $40,000,000. Stimulated by wartime demands and with the customary sources of supply cut off, American industry reached out into new directions, and grew fat in proportion to the ingenuity of it

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eat War itself was to make America a great industrial and political world power. Although the American economy was troubled prior to 1914, as the European war continued, the economy began to adjust to the war and under the impetus of Allied war purchases recovered from the recession and began an upward spiral of prosperity. War orders flooded in for foodstuffs, raw materials, and munitions. American production of iron, steel, copper, oil, meat, wheat, and other materials was vastly increased and the value of exports to Europe steadily mounted . . . In view of these facts, it was not surprising that many . . . concluded that the country had been pulled into World War I by the golden chain of economic forces" (Smith, 1965, p. 6). Some appear to have been troubled by the fact that the U.S. was not behaving in a totally neutral way in the war, but Smith asserts that the Wilson administration "never contemplated hostilities to ensure continued prosperity or to protect the American stake in the Allies" (Smith, 1965, p. 7). This, together with the fact that German forces waged unrestricted naval warfare against neutral ships and sought to annihilate the Allies altogether, provided the moral weight of American trade with the Allies d
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Some common words found in the essay are:
Industrial Revolution, War America, World War, Wilson Depression, Jackson Turner's, Elsewhere Leuchtenburg, Yankee Traders, Stuart Chase, Hart Crane, Herbert Spencer's, industrial revolution, world war, american economic, american economy, leuchtenburg 1963, western world, american industry, economic history, american economic history, stationary population, changes american,
Approximate Word count = 2052
Approximate Pages = 8 (250 words per page)