HIUS 131 Lecture Notes - Lecture 2: Independent Business, New Class, Overconsumption
Document Summary
Hius 131 lecture 2 impacts of the civil war on american society. Lincoln believed in strong government support for economic development: federal assistance for roads, railroads, etc, taxes on imported goods, encourage american manufacturing, create infrastructure, expand markets. If taxed imported shoes, would encourage lots of small shoe shops. Laissez-faire: = government let business be, and business went wild, actually, government gave a lot of assistance to industry, especially railroads, money and land. Land more valuable when railroad goes through it: railroad companies became land speculators in land that was given to them by federal government. Swift and armor meatpacking set prices so low that they lost money for a period of time in order to get rid of competitors: once competitors gone, raised prices and controlled processed meat market. If not have to work before 16, already from pretty prosperous homes: most young men had to work before 16, most industrialists got start during cw.
