The emergence of U.S.A AS A NEW CAPITALIST SUPER POWER

In this sense, the American economy became predominantly capitalist only by 1900. The earlier years fall into three periods. The first, from 1600 to 1790, is characterized by handicraft-subsistence production alongside elements of a semi-capitalist economy stemming from commercial production of tobacco.

One of the biggest factors contributing to the rise of industrial capitalism was technology. The late 19th Century was an era of innovation. Nearly half a million patents were issued between 1860 and 1900.