Chicago's economy is fluctuating over time; it has its share of ups and down. The good thing is that, it persists. Writing an essay regarding Chicago's economy, you will find out that its location paved the way for its transformation as a trading spot and a rail hub. It is situated on the southern part of Lake Michigan encompassing Chicago River, and bordering Wisconsin and Indiana. Chicago is said to be surrounded with swamps and mud before. Today, the city is home to skycrapers and several industries.
The city found its industrial strength when the railroad construction began in 1860. This intensified the growth of manufacturing industries. The ports and rails facilitated production, delivery and exchange of goods such as food products, equipment, and pharmaceuticals. Distant markets saw this as an opportunity to venture into shipping of lumbers and packed meat.
Chicago also experienced economic downfall. During the Great depression and World War II, the city was adversely affected. The huge demand for food helped Chicago's economy rise again, being an industrial city.
The flow of economy in Chicago changed as competitors emerged in the market. The automobile and steel industry in Chicago dwindled as Japan dominated the market. The stockyards that once famed city's meatpacking industry, closed. The city has shifted to the establishment of international banks as primary financial source. The city has also adapted the service economy. Writing an essay about the economy of a diverse city such as Chicago is challenging as you have to look into several aspects. It is at the same time, rewarding, as you get to discover interesting facts. Chicago is associated to several monikers that are reflective of the city's economy, character and history.
The Second City. This term was coined after The Great Chicago Fire crawled and destroyed the city. It was used to refer to the city's recovery; that the city before was gone but has now become a stronger one. It is also said to describe Chicago being the former second largest city in US.
The Windy City. This name was linked to politics as people say that politicians in the place are changing their minds so frequent, it is likened to winds.
The City That Works. Former Mayor Richard Daley started this nickname owing to the city's hardworking people and long hours.
To conclude, Chicago's economy is no different than the other cities as it is also exposed to challenges. Writing an essay about how cities manage to pull through in the face of economic crisis is sure to impart one important life lesson that is to play your cards wisely.
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