Experts in American history, economics, and the impact of capitalism discuss the rise of a new capitalist order in the United States. They explore how the country overtook its parent in wealth, the economic motivations of the American Revolution, the ruthless capitalists of the Gilded Age, the accelerated rate of technological progress, and the impact of the Industrial Revolution on society.
Economic motives were significant in the American Revolution, driven by wealthy colonists' interests in land ownership and African labor.
The construction of railroads in 19th-century America involved diverse labor, with Chinese immigrants facing exploitation and low wages.
Deep dives
The Formation of American Capitalism in the 18th Century
In the 18th century, amidst the American Revolution, economic motives played a significant role. Wealthy American colonists like Washington, Franklin, and Jefferson, primarily revolted against the British crown for economic reasons. Historians suggest that economic interests, such as owning lands from indigenous people and utilizing enslaved African labor, were crucial drivers of the American Revolution. The American revolutionaries aimed to continue business ventures initiated by the British Empire.
The Role of American Railroads and Chinese Immigrant Workers
The construction of railroads in 19th-century America required extensive labor, with hundreds of thousands of workers involved. Notably, Chinese immigrants were recruited to work on these projects, highlighting the diverse workforce. Chinese rail workers in California during the 1860s were paid meager wages, emphasizing the exploitation and challenges faced by laborers in industrialization.
Struggles Between Workers and Business Owners in the Gilded Age
During the Second Industrial Revolution and the Gilded Age, class struggles intensified in the US. Workers endured harsh conditions like long work hours and dangerous workplaces. Labor disputes, such as the railroad strike of 1877 and the Haymarket affair in 1886, exemplified the clashes between laborers demanding better conditions and the powerful business owners.
Progressive Era and a Shift Toward Reform
The Progressive Era, spanning from 1890 to 1920, marked a period of significant reform efforts in the US. Growing pressure for change led to economic, social, and political reforms. Labor Day becoming a national holiday in 1894 and other legislative changes reflected the increasing activism and demands for better conditions among the working class.
An age of invention and mass production, propelled by a new mechanism – the corporate research lab – leads to a surge in material wealth like the world has never seen. How does a new nation, the United States, overtake its parent as the leader of the surging capitalist order? And what does it all mean in the lives of ordinary people?
By John Biewen, with co-host Ellen McGirt. Interviews with Woody Holton, Robin Alario, Edward Baptist, and Brad DeLong. Story editor: Loretta Williams. Music by Michelle Osis, Lilli Haydn, Chris Westlake, Alex Symcox, and Goodnight, Lucas. Music consulting by Joe Augustine of Narrative Music. "Capitalism” is a production of the Kenan Institute for Ethics at Duke University, in partnership with Imperative 21.
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