When did Big Business develop?
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When used in the context of American economic development, the term "big business" refers to the concentration of industrial and financial power that began in the second half of the nineteenth century and continued through the end of the twentieth. The concentration of economic power began with the transformation of the United States in the nineteenth century from an agrarian, handicraft economy to an industrial, factory economy. By 1900, the United States had become the largest industrial nation in the world. This growth was due to factors including a pro-business political climate; a burst of inventions such as the telephone, the electric light, and the automobile; the availability of vast natural resources; a growing population; and improved production methods, including the division of production into discrete steps, each performed by a separate worker.
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