The Changing Economy: 1865- 1939 Offutt The end of the Civil War brought a whole new era of economy, political control, and Presidential intervention. The economy emerged from its agriculturally based economy into a flourishing big business dominated world and eventually in 1929 came crashing down. I agree only partially with the quote “ The Civil War saw the beginning of an 80-year decline of real individual economic opportunity; nonetheless, the vast majority of Americans continued to profess their belief in individualism as evidenced by the Presidents they elected. Thus, between 1865 and 1939, the majority of Americans accepted big business dominance and rejected all forms of government interference and regulation contrary to individualism.” It is true that the Civil war saw the beginning of a decline of individual economic opportunity. During an era known as “The Gilded Age” lasting from the end of the war until 1900, large corporations dominated the U. S. economy. The population went from being composed of predominantly farmers and small business owners to large business owners and shareholders. Technology began to revolutionize corporations, such as the construction of national railroads. Big business also led to monopolies, where one company would have full control over a specific area leaving others struggling. To resist big business labor unions, such as the American Federation of Labor, formed although they were usually no competition for big corporations. Between the end of the Civil war and 1900 manufacturing increased by four times leaving many farmers and small business owners moving to the city. After the stock market crash of 1929 everyone seemed to suffer an economic decline and it was no longer limited to individual opportunity. Americans did not continue to profess their belief in individualism as evidenced by the Presidents they elected. The Individualist thinker believes that...
