Final answer:
Senator Henry Cabot Lodge advocated for an American empire based on economic power, emphasizing the need for new markets to resolve domestic economic issues.
Step-by-step explanation:
Senator Henry Cabot Lodge played a significant role in the development of American imperialism towards the end of the 19th century. In advocating for a shift in policy, Lodge emphasized the necessity for the U.S. to secure new markets to avoid industrial and economic stagnation. His concerns highlighted the need for economic power, as he argued that an empire based on this principle could prevent declines in wages and industrial disturbances. These arguments were particularly potent during periods when the domestic economy was saturated with unsold goods.
Lodge wasn't alone in his belief that America needed to flex its muscles on the world stage; industrialists supported the buildup of a modern navy to enhance the nation's ability to protect and further its economic interests abroad. The underlying idea was the drive toward economic imperialism, making economic power the bedrock of American empire-building efforts during this era. Hence, their views on America's path toward imperialism were grounded in economic considerations, firmly placing the priority on establishing and exerting economic influence overseas.