The Rise of Big Business - 2958 Words

Today, the Big Business is one of the main features of the modern economic environment. Big Business refers mainly to corporations, huge economic entities operating for profit and distributing the ownership by the means of stocks. The Big Business started to grow in America after the Civil War, in the 1860s and already reached its peak of strengths by the â€Å"roaring† 1920s. Although Big Business faces much social and governmental control nowadays, its power is still enormous. Large business corporations provide most of economic output, employment places, financial investments, and production output. Politics is also very much influenced by the large corporations and is often forced into pursuing businesses’ strategic interests. Even average†¦show more content†¦Most explanations of the reasons for the rapid growth of business outline three main factors. First, it is the shift from water-powered to coal-powered factories, which enabled manufacturers to locate their plants nearer to markets and suppliers. The new technology also allowed producing bigger quantities of goods at a lower price, while the quality has also risen significantly. Second, the transportation improvements allowed firms to distribute their products to regional or national markets. A great role here was played by the development of railroad. Instead of only being able to ship goods to a local and regional market, railroads now made it possible for companies to ship and sell their goods outside traditional local markets. But even though the railroad now made it possible for the companies to sell their products to other regions, they had now to find a way of paying for shipping and still being able to reach Break-even point and compete with other regional companies. Third reason is the development of new financial institutions, such as the stock market, commercial banks, and investment houses, which increasedShow MoreRelatedThe Rise of Big Business1522 Words   |  7 PagesThe Rise of Big Business The decades after the Civil War rapidly changed the face of the United States. The rapid industrialization of the nation changed us from generally agrarian to the top industrial power in the world. Business tycoons thrived during this time, forging great business empires with the use of trusts and pools. Farmers moved to the cities and into the factories, living off wages and changing the face of the workforce. This rapid industrialization created wide gaps in society,Read MoreThe Rise of Big Business in America2197 Words   |  9 PagesThe Rise of Big Business in America Danny Weiss FS American Economic History Before the rise of modern corporations, business owners predominantly personally managed most private economic operations. 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