Economic Growth in US Spurred by New Innovative Technologies Essay

Economic Growth in US Spurred by New Innovative Technologies - Essay Example The essay "Economic Growth in US Spurred by New Innovative Technologies" talks about the last 30 years of the 19th century which was a time in the United States history that was defined by economic growth spurred by new innovative technologies. The greater overall levels of prosperity lead to a massive population growth in this country.For example, the city of New York had a population of 468,492 in 1869, twenty years later the population had grown to 1,093,701 inhabitants. The cities became overpopulated and there was a need to expand away from the cities into the suburban areas. Society was in need of more housing for the new residents that were entering the country either through immigration or through natural birth. The most influential factor that spurred the economy during this era was the construction industry.There were big changes during this era in the capability humans had to travel longer distances in shorter periods of time. New technological breakthroughs in transportat ion systems shorten the distances between rural areas and cities. Some of the key transportation technologies that appeared during this era were the cable street car, the electric trolley, and elevated railroads. With the ability to travel further distances the population and families were able to move away to intermediate regions between the city and rural space, thus the suburban neighborhood was born. At this time construction of homes picked up and enter into the middle class was defined by ownership of a home.