There were several characteristics of industrialization between 1865 and 1920. One characteristic dealt with the rise of big businesses. Many factories developed during this time period. The use of machines increased as more factories formed. Also, many business mergers occurred between 1865-1920. As a result of these mergers, businesses were able to form monopolies. Businesses were able to raise prices as competition dropped. The growth of factories and big business was a big part of the industrialization of the United States between 1865-1920.
Another characteristic of industrialization was a laissez-faire policy of the government regarding the economy. The government had very few rules and regulations as the government let businesses owners make their own decisions. The free enterprise system was at play with the forces of supply and demand determining the quantity of products produced and the prices of those products. There was some government protection of American industries, however, with the use of protective tariffs. These policies allowed our businesses to grow.
The third characteristic of industrialization during this period was the availability of a large number of workers. There were many immigrants arriving in our country during this time. People were also moving from the rural areas to the urban areas. The availability of many workers to work in factories helped to keep wages lower, which helped companies earn greater profits.
There were many factors involved with the industrialization of the United States between 1865-1920. This progress had a significant impact on the lives of the American people.