The Laissez-Faire was the economic theory that suggest that without government regulation, businesses would do better in the market. The concept came from the conformist Adam Smith who wrote "Wealth of Nations" in 1776. American industrial appealed to Laissez-Faire theory to justify their methods of doing business. Charles Darwin's theory of natural selection in biology played a role in supporting the views of economic conservatives. Social Darwinism applied his theory of natural selection and "survival of the fittest" to human society - the poor are living in poverty because they are not as fit to survive (education wise and etc.) It was used as an argument against social reforms to help the poor. "Gospel of Wealth" is the belief that those blessed with great wealth earned it through Darwinist competition but also were obligated to improve society through philanthropy. Many Americans found religion more convincing than Social Darwinism in justifying the wealth of successful bankers.
As time goes on technology becomes more advanced. In 1844, the telegraph is created by Samuel F. B. Morse. This invention changed the speed of communications and eventually became a standard part of modern living. The invention of the Transatlantic cable (by Cyrus W. Field's in 1866) made it possible to send messages across seas. The telephone was created in 1876 by Alexander Graham Bell. Thomas Edison was considered the greatest inventor of the 19th century. He invented a machine for recording votes in 1869. His early success gave him the resources to establish the first laboratory in Menlo Park, New Jersey, for inventing new technologies. George Westinghouse, another remarkable inventor, was responsible for developing an air brake for railroads (1869) and a transformer for producing high-voltage substitute current.