Some of the political, social, and economic conditions that were driving industrial growth from 1870 to 1900 in the United States included:
- Limited government regulation
- Development of new technologies
- Increasing need for investment capital
- Rising wealth, wages, production, and corporate mergers.
What factors cause industrial growth?
The factors that trigger industrial growth in an economy include:
- Trade openness
- Free capital flows
- Corporate governance
- Macroeconomic policies
- Technological innovation.
What triggered industrial growth in the United States?
America's industrial growth was spurred by:
- Improved transportation
- The agricultural revolution
- Creation of the assembly line
- The rise in mass production
- The invention of electricity and electric motors.
Thus, deliberately boosting industrial production through macroeconomic policies can cause the industrial growth of an economy.
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