When considering how the industrialization of the United States affected the wealth gap between the rich and poor, it is important to understand the economic dynamics of the time.
Here are the potential impacts:
1. B. It widened the gap by causing the collapse of the rural middle class:
- Industrialization led to the growth of urban centers and factories, drawing people away from rural areas where many were engaged in agriculture or small-scale production. This shift disrupted traditional ways of life, causing economic hardship for the rural middle class whose livelihoods were threatened by the changes brought about by industrialization. As a result, this widening wealth gap is attributed to the decline of the rural middle class.
2. D. It widened the gap by overwhelmingly benefiting the richest business owners:
- Industrialization concentrated wealth and power in the hands of a few wealthy business owners who controlled the means of production. This concentration of capital and resources in the hands of a small elite group widened the wealth gap significantly as the rich became richer due to their control over the industrial economy. The benefits of industrialization were not evenly distributed, leading to a widening gap between the rich and the poor.
These two options highlight how industrialization had a significant impact on the wealth disparity between different socioeconomic groups in the United States during that period.
