United States

Who played a role in banking during the Progressive era?

Rapid economic development during the late 19th and early 20th centuries fostered the rise of many prominent industrialists. Tycoons like Cornelius Vanderbilt, John D. Rockefeller, and Andrew Carnegie led the nation's progress in railroad, petroleum, and steel industries. Banking became a major part of the economy, with J. P. Morgan playing a notable role. The American economy boomed, becoming the world's largest, and the United States achieved great power status. These dramatic changes were accompanied by social unrest and the rise of populist, socialist, and anarchist movements. This period eventually ended with the advent of the Progressive Era, which saw significant reforms including women's suffrage, alcohol prohibition, regulation of consumer goods, greater antitrust measures to ensure competition and attention to worker conditions.


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