Economy The Industrial Revolution that started in

Economy

The Industrial Revolution that started in England during the 18 th century did not take long to cross the Atlantic. It brought many changes to American industry between 1776 and 1860.

One key development was the introduction of the factory system, which gathered many workers together in one workplace and produced goods for distribution over a wide area. A second development was the American system of mass production, which originated in the firearms industry about 1800.

The new system required precision engineering to create parts that were interchangeable. This, in turn, allowed the final product to be assembled in stages, each worker specializing in a specific operation. A third development was the application of new sources of power to industrial tasks. New forms of business organization - the bank and the corporation-facilitated the growth of industry.

The construction of railroads beginning in the 1830 s marked the start of a new era for the USA. The railroads increased business activities. The rise of industry changed the relations between the workers and the employers. They became more im 11 personal and even hostile.

Meanwhile, the organization of work was changing. In 1913 Henry Ford introduced the «moving assembly line» . By improving efficiency, it made possible a major saving in labor costs. Lower costs made possible both higher wages for workers and lower prices for consumers. During the 1 st half of the 20 th century mass production of consumer goods such as cars, refrigerators, kitchen ranges helped to revolutionize the ways in which Americans lived.

The century's two world wars spared the USA the devastation suffered by Europe and Asia, and American industries proved capable of great production increases to meet war needs. In 1945 the USA had the greatest productive capacity in the world. The 20 th century has seen the rise and decline of industries in the USA.

The auto industry, long the centerpiece of the American economy, has had to struggle to meet the challenge of foreign competition. At present, vehicles produced at such companies as Ford and the General Motors are known worldwide. Over the years many new industries have appeared

Over the years many new industries have appeared. These new industries are know as high-technology or high-tech ones. Service industries now dominate the US economy. It is sometimes said that the United States has moved into “a post-industrial era”.

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