Major Change from 1865-1914 One major economic change between 1865 and 1914 was the rapid economic growth and prosperity in the U.S. which became to have the most dominant economic, industrial, and agricultural power during this time. The United States had accumulation of capital through a continuing series of investment that just soared dramatically. This economic soar was a turning point for American History and a relief for those who did not have jobs, it was an opportunity for those who did not have job to finally be able seek a better living and a decent job.
Robert Higgs, a graduate student wrote a book of the American Economy during 1865-1914. In Robert Higgs book “The Transformation of the American Economy,” he states, “The Gilded Age, lasting from 1865 to World War I, was an era of economic growth never before seen in the history of the world. The standard of living of the modern age was born during this time of phenomenal transition. Lives lengthen. Wealth exploded. The middle class lived better than kings a century earlier” (Transformation of The American Economy). This statement in the book clearly speaks for itself. The economy during this time era was a tremendous upscale in history. The significance of the economic growth during this time meant no more living with the worry of not having a job or having to migrate from city to city just to find a job. This time period brought many people the chance to live a better life and with better pay so to say.
Many companies and factories took a huge part of this economic growth. The fast-growing national rail system was a major part of this growth. It created new economic links in the country by carrying raw material like coal, iron, ore, and timber to factories. That was not the only thing that these railroads systems were good for, they managed to also carry manufactured goods from factories to markets