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Essay On Capitalism In America

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Capitalism in the United States has been fueled by technological growth. Eras of advancement have led to the rising force that is our current economic and political system. What seems to be a perfect system to the average American could very well be a misconception. In reality, the proclaimed stable capitalistic society might in fact be a ticking time bomb.
America industrialized faster than any nation in history. In a blink of an eye, America became an industrial giant stronger than economy of Europe. Exports dwarfed imports as we made “carloads of wheat, tons of coal, kilowatts of electricity, locomotive and machine engine horsepower, miles of railroad and trolley track and telegraph wire, acreage under cultivation, patents per capita, and numbers of new cities, bridges, tunnels, dockyards and sewage and water treatment plants.” As industries gained new machines and faster ways to produce a product the desire for labor intensified.
As the world made its technological advancements, the need for manual labor in the United States rose rapidly. Business owners had a hunger for the cheapest forms of labor possible, whether that labor took form of a farmer, a convict, an immigrant, or even a former slave. A new cultural practice was adopted for acquiring cheap labor. Black men were often the victim of this …show more content…
The New Deal was initiated by Franklin Delano Roosevelt during presidency. These reforms took measures on child labor, hours and safety at work, minimum wages, tenement housing, and public health. Regulations of food, drug, meat packing, railroad, and other industries were also included in the new deal. This new form of capitalism was entitled “civilized” capitalism which was a early form of today’s flexible capitalism. The New Deal also included social security and unemployment insurance as well as government regulation of banks which included the financial

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