During the period between 1865 and 1900, United States emerged as the global industrial power house. This period followed the end of Civil War, and a combination of factors spurred rapid growth of commerce and industries. These factors included the adequate land and cheap labor; availability of navigable rivers, coastal water ways and canals; ample presence of natural resources; and the government contribution towards the nation’s vision of rapid industrialization (David 10). The immediate goal of the government was to improve the nation’s economy, so as to uplift the living standards of the citizens as quickly as possible. To facilitate such growth, the authorities embarked on a plan of developing efficient infrastructure to enable reliability in movement of goods and services. Additionally, they avoided the implementation of rigid regulations to avoid dispiriting entrepreneurs.
Due to high demand for housing and the government’s policy of keeping tax rates as low as possible, the citizens easily found employment. This raised their income as well as their living standards, a situation which led to increase in the demand for commodities such as better clothing and healthier diet. This stimulated the proliferation of industries which in effect created more jobs and broadened the government’s tax base (David 8). The importance of government contribution in infrastructure development facilitated organization and coordination amongst firms making them to evolve into a unified economy. As the nation dominance in the industrial sector became unrivalled, its global influence increased, and by the beginning of the 20th, the United States was apparently was the world economic and military superpower. These great achievements were realized following government’s provision of an investment base that was beyond comparison. Moreover, liberalism in America appealed to many industrious individuals and groups who faced persecution at home, for example, the Germans, who had been resettled by the queen in the colonies following frequent invasions into their home country. Most of these immigrants were industrious, and their prominent attributes helped further the industrial growth. For quite a long time, however, only a few citizens have been privileged to possess real economic and political power in America (Richard 3). In fact, statistics have indicated that while 1% of the richest Americans own about 40% of the nation’s wealth, 40% of the poorest controls less that 1% of the economy. Nevertheless, better policies are being formulated to correct this discrepancy to enable everyone have an equitable share of the national wealth.
In the formative years of the industrial revolution, the government laid the basis for a strong economy by investing considerably in science and technology. In addition, distinct political institutions, cultural identity, educational system, and social structure entrenched the values of self-sufficiency and entrepreneurship. These efforts ensured sustainability of the economy, despite facing challenges such as the Great Depression (Richard 5). Investment in these fields continues, and currently, America is a global player in computing and biotechnology.