Impact of Industrial Capitalism on American Society

Hard Period 6: 1865–1898 Industrial Capitalism

During the late 19th century, the United States experienced significant economic transformation characterized by the rise of industrial capitalism. This period saw the emergence of powerful industrial giants, changes in labor practices, and the development of a national market. One prominent figure of this era is Andrew Carnegie, who revolutionized the steel industry. Considering the influences of industrial capitalism, which of the following statements best reflects the impact of such economic changes on American society during this time?

Industrial capitalism primarily benefited skilled laborers, leading to significant wage increases and improved working conditions.

The expansion of industrial capitalism led to the concentration of wealth, contributing to significant economic inequality and social unrest.

Industrial capitalism had minimal impact on urbanization, with most Americans remaining in rural areas throughout the period.

The rise of industrial capitalism resulted in the decline of major industries in the United States, leading to a reliance on agricultural exports.

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