A Brief History of the American

Economy•

Colonial Times -Revolution

• Agrarian• Almost 85% of

all Americans were farmers.

• Most Americans rarely left their hometowns.

Early-Mid 1800’s

The Industrial Revolution

• Growth of the Cities• CAPITALISM!• More factories and

mechanization of resources.

• Booming American Industries:– A. Mining– B. Railroad– C. Ranching

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The Gilded Age (1865-1900)

• The Age of BIG BUSINESS• Laissez-faire, free market,

unrestricted, big money, big business, capitalism BABY YEAH YA!!!! (unless of course you are actually working in the factories then you are dirt poor and have no rights)

• Famous monopolists: _______________

Never Fear TR is HERE!!!

The Trustbuster/Teddy Roosevelt

• 1st President to begin regulating free market capitalism by breaking up trusts that he said hurt PEOPLE.

• Thought that this was unconstitutional. Why?

The Progressive Era (1900-1920)

1. Time of change in American society; examples of this change????

2. Limited laissez-faire: The Pure Food and Drug Act, The Federal Reserve Act, Labor Movement, 16th 17th 18th 19th Amendments, more??????

3. America was booming even with limited government involvement until………..

The Stock Market Crash of 1929

OH NOOOOOOO!!!!!!!!!!!!!!

The Great Depression

• Massive Unemployment

• Bank Closures• Evictions• Hobos• Bad Times..bad

times

Never Fear…….

The other Roosevelt is HERE!!!

FDR and the New Deal

• Major overhaul of the US economy

• Massive government involvement/Examples:

Alphabet Soup Reforms

Social Welfare Programs

• Keynsian economics to the extreme

• Gave people HOPE

Behold: The Modern U.S. Economy

1. Limited laissez-faire: Government involvement in the economy

• Welfare, social Security, taxes, entitlement, public education, research, etc.

2. Still a free market capitalism (as long as the capitalists do NOT infringe upon the rights of free enterprise!!!)

3. Business cannot hurt the country as a whole or the people as individuals

Examples___________________________________________________________

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