Economic Trends

What are the political and social impacts of economic developments?????

ECONOMIC TRENDS

Manufacturing expanded during war

Bank of No. America then 1st Bank of U.S.

Land SpeculationStates charter business corp.

Outwork system grows

1780-1810

ECONOMY OF A NEW NATION

OUTWORK=OPPORTU-NITY FORWOMEN

1816-1836: 2nd Bank of US

Supreme Court guards property

Erie CanalProtective TariffsU.S. Textiles compete w/Britain

Manufacturers grow in Midwest

1820-1850

ECONOMIC REVOLUTION

IN WHAT WAYS DID THE EMERGING

INDUSTRIAL ECONOMY CONFLICT

WITH ARTISAN REPUBLICANISM?

Common law against unions until Commonwealth v. Hunt (1842)prioritize workers’ individual rights and business

rightsProducing v. non-producing society=workers as

commodityMechanization increased supply faster than demand

RESPONSE TO PROMPT

Rise of Sharecropping after CW

Railroad expansionHomesteading and ranching

Vertical IntegrationEmergence of managerial work

Economic cycles provoke calls for reform

1870-1910

INDUSTRIAL REVOLUTION & NATIONAL ECONOMY

PROBLEMS WITH TRUSTS

Erosion of labor rightsIsolationist Trade-tariffsOligopoliesConsumer culture

RadiosRefrigeratorsCars

Stock market bubbleFragile banking

1920s-1930s

BOOM & BUST

Military Industrial Complex

Increase in real wagesConsumption economyInfrastructure & suburbanization

Gov’t Spending on Great Society then Vietnam

1945-1970

POSTWAR BOOM

Consumption

Conformity

Sunbelt

POLITICAL AND SOCIAL IMPACTS

Have political and social impacts.

ECONOMIC DEVELOPMENTS…