How the Industrial Revolution, post 1865, influenced migration and Research Paper

How the Industrial Revolution, post 1865, influenced migration and expanded civilization - Research Paper Example In this second industrial revolution, discovery and invention, acting as the catalysts played a major role in industrial and economic growth of the nation. These developments coupled with the developments in transportation and communications were responsible for the formation of organized industries with the emergence of big business empires in various industrial sectors such as steel and oil. Consequently the markets grew deep and wide for catering to the needs of the suppliers and consumers. These developments resulted into migration of people from different parts of the country to the urban industrial centers and different parts of the world to the US with the urban growth taking place at a rapid pace. These migrations were responsible for the diverse cultural background in the society. Industrial development The growth of industries was very fast during this period. The consumption of steel is an indicator for industrial development. The consumption of steel in the industrial and construction sector increased during this period and fuelled the growth of steel industry. The mass production of steel through innovative methods introduced by Carnegie made it cheaper and the demand for steel increased exponentially. This has accelerated construction of railroads across the country which stimulated the growth of business and industries by rendering mobility to the goods manufactured for reaching the customers throughout the country. Similarly, the growth of oil industry has changed the way the people were living in the US as its consumption was closely linked to general industrial growth, transportation and social life. Invention of telephone and telegraph aided industrial and economic growth further. â€Å"†¦the most dramatic improvement in the speed, breadth and reliability of news cov erage came with Samuel Morse's invention of the telegraph. Newspapers became the major customers of the telegraph companies, and the cost of telegraph transmissions led to the formation of wire services like the Associated Press, which was founded as a cooperative venture by New York newspapers in 1848† (Stephens). Freedoms to press, free market economy and the capitalist system of the country encouraged entrepreneurship, and it attracted people from all over the world to the US. The opportunities available in the industrial centers for employment, profession or education caused migration of people to urban areas. The new techniques used in agriculture have increased productivity. The proportion of people employed in agriculture has come down. The agricultural laborers from rural areas migrated to cities in search of employment. Steckel states, â€Å"The importance of migration to urban growth is also indisputable. Because birth rates were low but death rates were high, migra tion fueled urban growth during the 19th century. Indeed, many cities and towns would have declined in size without an inflow of people that replaced the excess of deaths over births† (p. 1). Capital formation and emergence of corporate companies Referring to New York Stock Exchange, Teweles & Bradley says, â€Å"The vast development of the railroads was particularly important to the Exchange since those corporations were the chief issuers of securities in the trading market. About 70,000