Economic Cycles at Varying Times Over Various Industries



From 1890 to 1920 there was an era known as the progressive one as during this time period a new rule was applied that working time should be 8 hours, which caused much of progress in the economy. In the early years of American history, most political leaders were hesitant to heavily involve the federal government in the private sector, except in the area of transportation (Anderson, T. G., 2001). In general, they accepted government interference in the economy. The main interference was done with an objective to maintain law and order within the territory. A changing attitude to the issue was seen during the 19th century. During this time small businesses, farm, and labour movements started searching for possible ways to reform their business and to involve government in assisting them with the issues. By the start of the new century, many political changes had occurred that appreciated the government favours and help that gave the rise to the progressive era. Different acts were passed on food and administration as well as federal trade agencies development (Schwert, W. G., 1989) In 1913 Henry Ford adopted the moving assembly line with each worker doing one simple task in the production of automobiles. From 1920 to 1929 there was an era known as the roaring era. This era was marked by the rapid development of the automobile industry. The list of other industries included oil, glass, and road-building industries. The other tendency was that tourism enhanced and more consumers started to use cars, which led to a perspective that was far wider than simple shopping.