Part two- 1890 to 1920 economic change and development

1890 to WW1 - US worlds leading economy
industrialisation caused increase in output and productivity and also natural resources were exploited
'golden age of agriculture'-new techniques and favourable new markets
econ. expansion not trouble free, were slow downs between surges
agriculture experienced difficulties= unrest/ political protest/
banking and finance struggled
1893 Panic led to depression and also 1907 panic
'industrial capitalism' aroused resentment
were demands for more effective regulation, + gov intervention, overall unstoppable econ growth/prosperity
industrial expansion & modern transport
big business men vanderbilt/carnegie/rockefellar already establishing huge empires
early 1890s us = net importer
Britain still greatest force
after 1890= second industrial revolution
1895-1913 econ achieved take off with two surges (up 90% 1895-1900 & 77% 1908-13)
by 1913 us= net exporter
exports; iron steel copper oil
productivity was better than…

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