In: Economics
Industrialization in the Northeast produced great benefits and also major problems. What were they? Who benefited and who suffered? Did the benefits outweigh the problems, or vice versa? What about industrialization in the South?
Northeast industrialization had many benefits and also faced major problems.
Benefits:
major problems:
The unskilled labourers and the artisans suffered from the industrialization.
The benifits outweighted the problems as it increased the production cost and they could sell and produce surplus and also brought extra income to the farm families.
Industrialization in south created new social structure. The financial structures collapsed and the old social structures were placed at the top. They relied on one crop called the king cotton as the complete plantation system got collapsed. Textile industries began to boom in southern towns.
Industrialization in south also lead to the development of new white social classes.
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