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    Capital and Labor
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    1. ChloeMiedema 01 Sep 2025
      The speculative bubble created by railroad financing burst in the Panic of 1873, which began a period called the Long Depression that lasted until nearly the end of the century and was so bad that before the Great Depression of the 1930s the period was known simply as “The Depression”.

      The fact that this was caused by a few things, that might've looked inconsequential, or not so much of a deal, all worked together to cause one of the most devastating depressions in U.S. history. It makes me wonder if there was anything they could've done to avoid it.

    2. ChloeMiedema 01 Sep 2025
      Nearly 100 Americans died in “The Great Upheaval.” Workers destroyed nearly $40 million worth of property. The strike galvanized the country. It convinced laborers of the need for institutionalized unions, persuaded businesses of the need for even greater political influence and government aid, and foretold a half century of labor conflict in the United States.

      The fact that workers had to come to such drastic measures just to get a voice in what they're paid, or even reduced work hours. They had to destroy nearly $40 million dollars (about $1,174,720,000 today) worth of property, and there were many casualties. It makes me thankful that we have the unions we have today, but also wonder what would happen if something like this happened in modern days. Would it be as catastrophic, or would the government avoid all of it by complying?

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