The economic transformation refers to the significant changes that occurred in the United States' economy during a specific period of time, resulting in new industries, technologies, and methods of production.
Related terms
Industrial Revolution: A period of rapid industrialization characterized by technological advancements and the shift from handmade goods to machine-made products.
Urbanization: The process of population growth and migration from rural areas to cities due to increased job opportunities in industries.
Capitalism: An economic system based on private ownership of businesses and free market competition for profit.