The following factors led to the rapid development of the US economy: increase in labour supply, availability of land, and capital. Also the American peoples became more hardworking. Finally, the fact that America was not affected much by the world wars meant that they concentrated on production. This was also an opportunity for them to get market for their already made goods (Roark et al. 530).

The proponents of Laissez-faire economy preferred it because it assured them of the capitalism and the individualism they wanted to promote. They wanted an economy where every person would own their wealth, but not an economy where wealth is shared (Johnson Vol II 210).

The reason as to why some people were against the Laissez-fare system of capitalism was because of the issues of morality that were raised. This went hand in hand with the principle of utilitarianism which advocated for the good of all people. These opponents thus argued that the system of laissez-fare created a country of a few millionaires and millions of the poor, thus it was morally wrong (Johnson Vol I. 199).

Industrialization of the USA had various impacts to the worker. For example, it improved the worker’s living conditions by diversifying the goods they would buy. Also, the industrialization came with improved working conditions for the workers. The jobs for the workers were also increased and diversified by industrialization. It thus opened doors to division of labour and industrialization. However, some workers were impacted negatively. According to Roark et al. (2012), the introduction of machines to do jobs that were being done by people, meant that most people lost jobs. On the same negative side, the introduction of more items to buy led to the development of materialism.

Works Cited.

Johnson, P.M.Reading the American past: selected historical documents volume I: to 1877. New York, NY: Bedford’s/ ST. Martin’s. 2009. Print

Johnson, P.M.Reading the American past: selected historical documents volume II: from1865. New York, NY: Bedford’s/ ST. Martin’s. 2009. Print.

Roark, J.L., Johnson, M.P., Cohen, C.P., Stage, S., & Hartman, M.S. 2012).The American promise: A history of the United States. New York, NY: Bedfords.ST. Martin’s. 2012. Print.