Question

How did industrialization impact in the nineteenth century world economy

Answer 1

Industry had made the U.S. the richest nation in the world at this time. The Second Industrial Revolution caused growth in industry and transportation, which allowed increased trade between nations.

Answer 2

Industrialization impacted the economy in many ways. People began to move from the rural areas into the cities to find jobs. According to the graph, the number of farmworkers steadily declined between 1840 and 1900. Production of iron began to increase as the industrialized era progressed. Society became more focused on the production of goods and services in contrast to an agricultural society focused on farming.