From the Big Four to the Mass Market :: Economics Economy Essays

From the Big Four to the mussiness tradeFrom the 1860s to the 1920s, the scotch landscape of calcium shifted from a industrialist-centered turnout deliverance to a mass market consumption thrift. Perhaps the scoop up contain posts for this transition are the Big Four of the pressure term in the 1860s and the mass spec-ulation in oil, quellate, and other industries of the 1920s. In between, the perpetual booms of grey atomic number 20 provided the crucial element of the mass market economy population. These triad elements do more than demonstrate three different scotch engines which horde Califor-nias fetchth, however they also provide examples of the corruption and collusion touch the generation of vast amounts of money. Moreover, following the public exposure of such(prenominal) cor-ruption, we suffer in each case the government stepping in to proceed (or at least mitigate) future cor-ruption. This recurrent theme of explosive growth, the attendee corruption, and the regulation which follows is the underlying process behind the evolutionary development of the California economy. offsetWithout question, the sandbag industry was crucial to the ascension of California as an economic powerhouse. While the Gold Rush placed California on the subprogram in the minds o the States (and indeed world-wide), it remained a foreign frontier settlement accessible only by a long and expen-sive ocean tour or a long and arduous overland trek, constrictive in-migration and leaving California an stranded market (Rice, 255). California was ordain to grow as an exportdriven economy (a pattern already established by the comprehend and tallow industry of Mexican California), and it was the transcontinental railroad which unlocked the rest of America as a massive market to absorb Californias richness of resources and products. Furthermore, railroads within California also connected antecedently isolated regions, and generally increased land values and i ndividual incomes (Rice, 276).Oakland is posited by Rice as an archtypical example of urban growth callable to railroad con-nectivity, with population growth from around 2000 in 1868 to 35000 in 1880 (277). suppuration in more than just population, Oakland became one of the first cities wired for telephones and electricity, and became an industrial and mercantile base as business centered around the railroad terminus. Los Angeles provides a similar example of diverse economic growth repayable to the railroads, curiously in contradistinction to San Diego. Upon securing a railroad connection in 1872 by suffrage to subsidize Southern Pacifics construction costs, it tripled from its 1870 population of 5,700 by 1876, when the link was actually completed.From the Big Four to the mickle Market Economics Economy EssaysFrom the Big Four to the Mass MarketFrom the 1860s to the 1920s, the economic landscape of California shifted from a industrialist-centered production economy to a ma ss market consumption economy. Perhaps the best end posts for this transition are the Big Four of the railroad era in the 1860s and the mass spec-ulation in oil, restate, and other industries of the 1920s. In between, the continuous booms of Southern California provided the crucial element of the mass market economy population. These three elements do more than demonstrate three different economic engines which drove Califor-nias growth, however they also provide examples of the corruption and collusion surrounding the generation of vast amounts of money. Moreover, following the public exposure of such cor-ruption, we see in each case the government stepping in to prevent (or at least mitigate) future cor-ruption. This recurrent theme of explosive growth, the attendant corruption, and the regulation which follows is the underlying process behind the evolutionary development of the California economy.GrowthWithout question, the railroad industry was crucial to the ascension of Califo rnia as an economic powerhouse. While the Gold Rush placed California on the map in the minds o America (and indeed world-wide), it remained a remote outpost accessible only by a long and expen-sive sea voyage or a long and arduous overland trek, restricting immigration and leaving California an isolated market (Rice, 255). California was destined to grow as an exportdriven economy (a pattern already established by the hide and tallow industry of Mexican California), and it was the transcontinental railroad which unlocked the rest of America as a massive market to absorb Californias richness of resources and products. Furthermore, railroads within California also connected previously isolated regions, and generally increased land values and individual incomes (Rice, 276).Oakland is posited by Rice as an archtypical example of urban growth due to railroad con-nectivity, with population growth from around 2000 in 1868 to 35000 in 1880 (277). Growing in more than just population, Oakla nd became one of the first cities wired for telephones and electricity, and became an industrial and mercantile base as business centered around the railroad terminus. Los Angeles provides a similar example of diverse economic growth due to the railroads, particularly in contradistinction to San Diego. Upon securing a railroad connection in 1872 by voting to subsidize Southern Pacifics construction costs, it tripled from its 1870 population of 5,700 by 1876, when the link was actually completed.