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The Panic began when one of the largest banks in the United States didn't meet its obligations and went bankrupt. Leading to a depression that democrats ultimately blamed on the republicans. This eventually led to the republican grasp on national power faltering, leading to the breaking up of the party.

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Despite a growing middle class in the late 1800s, working conditions remained terrible. People worked long hours in awful and dangerous conditions, and oftentimes young children had to work to support their family. These awful conditions were hated by many, and eventually led to the rise of unions, who had the goal of improving the working conditions for this working class.

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After the depression, the economy slowly recovered and the middle class grew. Additionally people began buying on credit, meaning they didn't have the money on hand. This led to many going in debt, but the growing culture of buying goods remained, and many stores began to have success.

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The principles of scientific management, created by Fredrick Taylor, were embraced by many work managers during the increasing industrialization. These principles increased productivity by dividing work into short repetitive tasks, but had the downside of decreasing worker social interactions

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Episode 143: Frederick Winslow Taylor's Scientific Management

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Growing into a powerful force within the United States after the panic of 1873, the knights of labor worked to help improve working conditions in the United States. This included an 8-hour workday, equal pray across genders, and increasing cooperation between managers and workers. They were a large reason why the working conditions in the U.S. finally began to increase.

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The American Federation of Labor was the result efforts of multiple different labor unions across the United States. This organization had the goal providing economic gains to it's members, and widley increasing the wages of workers. Unlike other unions the AFL did not focus on political issues.