Answer :
During industrialization as in other periods of history the exploration of new economic theories occurred as a result of critical thinking in reference to the current system of government and the current theory at work. This occurred relative to mercantilism, capitalism, socialism, communism, and many other economic theories or models.
During Industrialization, new economic theories occurred due to mercantilism, capitalism, socialism, communism and many other economic model.
Further Explanations:
During the era of 1880 and 1920, rapid industrialization and urbanization took place in the United States.
Progressive Era was an era of social and political reforms in the United States that reigns during the 1920s. The main motive of the progressives was to remove the hurdles that were coming in the way of urbanization, Immigration, and Industrialization. Woodrow Wilson, Theodore Roosevelt, Grace Abbott, and William Jennings Bryan were some of the most influential commanders of the Progressive era. Since the movement started at the local level but soon took the face of a national movement gaining support of mainly middle-class citizens.
The era gave rise to many theories like communism, Mercantilism, capitalism, and socialism. Primarily textile industries and steam power was introduced during industrialization which soon became popular on the eastern coast of the United States.
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Answer Details
Grade – High School
Subject – Economy
Chapter – Industrialization
Keywords: Progressive Era, political reforms, urbanization, Immigration, Industrialization, Woodrow Wilson, Theodore Roosevelt, Grace Abbott, and William Jennings Bryan, communism, Mercantilism, capitalism, and socialism.
