What was one effect of the Industrial Revolution on American wealth?

The Industrial Revolution had a profound impact on American wealth, particularly through the creation of vast wealth stemming from industrialization. As industries expanded and factories proliferated, there was a shift from agrarian economies to more diversified urban economies fueled by manufacturing. This resulted in increased productivity and efficiency, allowing for the mass production of goods. As a consequence, not only did businesses grow, but many individuals also accrued significant wealth.

This period marked a significant transition where capital investment in machinery and infrastructure led to economic growth, creating numerous jobs and stimulating various sectors of the economy. Additionally, the rise of new technologies and innovations contributed to an unprecedented scale of production, which ultimately transformed the economic landscape of the nation. Wealth became concentrated among industrialists and entrepreneurs, driving a broader economic boom that characterized the era.