Capitalism During Industrialization

Decent Essays
During the Industrialization period, Capitalism had a positive effect on the way people improved their lives and the technological advancements which helped their cities. It’s been said “The conditions of human life have not only been changed but revolutionized,” (Carnegie 1901). The causes of Capitalism created a change in human lives, as the average person person in 1904 was able to live with an increase of money than 1850 which was a huge boost to the economy as prices decreased (King 1919). As the economy was growing and the advantages for even middle class men were improving, huge factory advancements were made which enabled an increase in the variety of clothes. This was considered a great technological advancement as factories were never…show more content…
During the early 1900’s in Chicago it's been recorded,“Tens of thousand men, homeless and wretched, willing to work and begging for a chance, yet starving, and fronting in terror the awful winter cold! ” (Sinclair 1906). It was a hard time for many as they were unable to find themselves a job which led to them being homeless and living in awful conditions. Many such as immigrants had very poor living conditions and were given very compacted and dirty places to live in (Riis 1890). Immigrants came to America under false assumptions expecting to leave a rich life, but this was not the case since they were hit by unbelievable circumstances. Even if one received a job, the wages were very little compared to the dangerous jobs they had to do which led them to go on strike which created their bad living conditions (Hakim 17-18). The greed of owners consumed them which created an imbalanced society where many had to go on strike which led to unemployment which led to even worse. Henceforth, those who were unemployed were facing many negative consequences which included terrible living conditions as the gap between the poor and rich keeps increasing. Furthermore, the economy at the time was very lopsided because of capitalism where the poor were going through difficulty while the rich could do whatever they
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