In a time after the civil war, America improved their financing by switching to the gold standard, improved communication by boosting the telegraph, improved transportation by building railroads, and improved wealth by giving contracts for clothes to multiple companies. The economy was also improving massively also due to natural resources, demography, and law. Railroads allowed people as well as supplies to be transported quicker, safer, and cheaper. Companies bought each other out and formed monopolies which made the price go up and the owners very wealthy. Aside from all of these positives, there are also various problems that took place during the Gilded Age (1865-1900).
When the assembly line was first accepted into society, it was greatly celebrated. It had brought forth the idea that one could produce more while working less. This mindset had seldom been used before the emergence of the assembly line, and the American public “burbled with excitement”. The benefits of being employed through the assembly line were quickly seen, and it greatly improved the quality of life for people. Ford, realizing that
There was lots of something of the excitement and the changes in social conventions at the time. As the economy boomed, wages rose for most Americans and prices fell, which resulted in a higher standard of living and a dramatic increase in consumer consumption. Young American women also changed the way they dressed, thought, and acted in a manner that shocked traditional parents or partners. These changes were encouraged by the new mass media such as motion pictures. Many issues such as a call for women’s suffrage, the Harlem Renaissance, and a shift in the definition of class from lineage to wealth threatened the social basic status and the white male’s
Henry the Navigator Henry the Navigator, as well as new technology, greatly assisted the Europeans’ ability to expand trade around the world. As the Europeans were able to expand trade around the world, they created a surplus of supplies and became wealthy. Consequently, Europeans start to grow in population throughout their colonies. Henry the Navigator helped the Europeans discover more land and made it easier to expand overseas. Europeans relied on the use of new technology and Henry the Navigator to expand trade around the world.
In turn, railroad companies spent large sums of money purchasing railroad supplies. The cycle of employing large numbers of workers, building the railroads, and spending large sums of money stimulated extraordinary growth in the economy. In addition, railroads caused the remarkable growth of nationwide marketing in America in the late 19th century. Railroads allowed mail-order
Through the development of new technology can help Kodak to meet their customer’s need and compete with their rivals. Kodak believed that there are good prospects in the printing industry. Hence, the develop of product and technology that are friendly to the environment such as Kodak Sonora Process Free Plates that need lesser energy and water without having to reduce the quality and productivity may be high in demand as the environmental awareness is getting higher among the people. 2. Good foreground in the packaging industry The company believed that the demand for packaging is getting higher in fast growing regions due to the rapid development of retail chains, healthcare and cosmetics sectors that driven by urbanization.
Economic growth is main factor in individual lifestyle in and economy so if there is growth, reduction of poor living standards will occur. These enhances consumer spending because it increases incomes. An increase in workers real wage rates will result higher purchasing power of a worker and therefore these workers who are also consumers tend to increase their spending, which causes a rise in aggregate demand and aggregate supply in a long run, because there is an increases in aggregate demand and aggregate supply over time it results to growth in output from firms and therefore firms need to employ more workers for continuous expansion and as a result reducing unemployment. A rise in output will also result to improved and more efficient public services as consumer real wage rates increases so does direct taxes, which results to growth in tax revenues government can increase spending on education and health. With all these in place firms become more confident and are able to achieve product efficiency even with even market conditions and so they invest more, and as stated in the first part of this essay investments is a main source of economic
Thus, consumerism spurs consumption. Consumerism is held as an economic ideology that enhances global development with its increasing consumption that spurs economy with greater purchasing power. It has allowed people to enjoy more access to increasing levels of disposable income. As such, consumerism stirs consumers to achieve their goals through acquisition of goods. Globalisation of commodities encourages the search for cheaper and quicker methods of disposable of both domestic and industrial waste.
In addition, free trade encourages developed countries to further increase their production of manufactured goods to sell them to developing countries, resulting in proliferated industrialization and economic growth. This has boosted the gross domestic product of developed countries and increased their purchasing power capita. This money can be spent to further improve the standards of living in developed countries. As well, free trade has escalated the competition amongst countries, which has inspired progress and innovation in various areas, hence providing more job opportunities and reducing unemployment. All of this has brought a lot of benefits and opportunities for developed countries, leading to their further development.
(Douglas, 1996). Thus research in this area can examine ways in which an individual’s intentions can be momentarily abandoned, contributing to the considerable research on the gap between action and intention. Most empirical research into the gap has found that, for instance, concern for the environment, or the wellbeing of underpaid workers is common but this concern does not always translate into behavior (Emerald, 2004). Lastly, Bauman (2007) assesses how modern capitalism encourages individuals to continuously reinvent themselves, by creating a culture in which discarding objects that are considered ‘obsolescent’ by society and purchasing new ones. He stresses that this cycle drives consumerism.