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High use of exports of resources and imports of products.

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Thomas Jefferson wanted the United States to remain an agrarian country with minimal government intrusion. Alexander Hamilton sought a strong federal government to promote U.S. manufacturing through government support of infrastructure improvements, protective tariffs on imports, a strong currency and central banking.

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The Constitution was ratified in 1788, and as per Alexander Hamilton's request, it gave the federal government the power to issue money as opposed to just the states. It imposed tariffs on trade, allowing the government to profit off of its grand exports.

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George Washington became the first president, that was when people mostly lived on farms and grew their own food.

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Before the Civil War, inventions such as Eli Whitney’s cotton gin, John Deere’s steel plow and Cyrus McCormick’s mechanized grain reaper were already improving farm productivity.

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Era of rapid industrialization and growing internal market and became less dependent on trade. Agricultural economy of the defeated South moved from a plantation system to one of tenant farming.

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The industrial and commercial economy of the North post civil war continued its great expansion west. The first railroad linking the Atlantic and Pacific coasts, completed in 1869, enabled a true national economy to develop, one capable of trading on equal terms with Europe and Asia.

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A seismic shift occurred in the 1880s when manufacturing and commercial output surpassed farm output. This marked the moving away from a primarily farm-based economy to a much more profitable and modernized one. Inventions like the telephone and electric light bulb allowed electricity to power businesses and homes all the while connecting people closer than ever before, revolutionizing how business operated.

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By the early 20th century, electric power surged throughout the U.S. economy, powering factories, promoting automated manufacturing, lighting offices and homes, illuminating department stores and movie theaters, lifting elevators in skyscrapers and powering city streetcars and subways.

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In 1913, President Woodrow Wilson acted to create the Federal Reserve, the first U.S. central bank chartered since the 1830s.

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1920s- Stock market crash and the Great Depression

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1920s- Stock market crash and the Great Depression

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U.S. saw strong economic expansion and prosperity but also increase in stock market speculation. End of the decade resulted in a stock market crash and the Great Depression where the majority of the nation struggled financially and unemployment rates soared.

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Roosevelt brought an economic program that only allowed dominant banks to continue, created government jobs for the jobless, and reducing output

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The American economy began to finally recover as American industries mobilized to support the United States’ entry into World War II in December of 1941. Factories supplied war materiel to the U.S. military and Allied armed forces in both Europe, Asia, and Oceana. The U.S. auto industry ceased producing private vehicles and produced tanks instead.

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The United States emerged from World War II as the world's strongest economic power. It was believed to be crucial for other nations to thrive for a strong economy. So, the International Monetary Fund and the World Bank were created in 1944. Then, a General Agreement on Tariffs and Trade was negotiated, standardizing global trade. These events showed how the U.S. could have remained the most powerful force but selflessly took a more global approach.

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The Korean War increased U.S. increased government spending. It increased taxes, though an anti-inflammatory policy through the Federal Reserve prevented inflation. The Korean War is also often considered as the catalyst for the worst of the Cold War, which saw humanity plunge into some of its most dangerous times.

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Boosted the U.S. economy out of the recession that was caused by the Korean War. The Vietnam War accelerated the mechanism of agricultural industry. The war led to a loss of trust of political leaders by American citizens. The was also damaged the U.S. economy because of the unwillingness to pay taxes by President Johnson, then leading to a cycle of inflation.

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Increase of taxes and increase in military spending for war materials. This resulted from the Korean War and the Vietnam War occurring back to back. The Vietnam War was still going on this time as well.

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Boats and boating--Equipment and supplies

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In 1965, President Lyndon B. Johnson pressed congress to expand social safety net programs like Medicare and Medicaid which was government health insurance programs for the old and poor. Congress also adopted a couple other programs, many of them short lived, targeted to eliminate and reduce poverty.

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Nixon imposing government wages and price controls in a failed attempt to arrest inflation, as well as oil problems shocking the economy because of the 1973 Arab-Israeli War and 1979 Islamic revolution in Iran, caused a recession.

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Not nearly as bad as 1920, a similar situation occurred where there was strong economic expansion, increased prosperity, and growing speculation. Resulting "dot com" bubble burst in 2000 led to a short economic recession.

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In 2007, the overbuilt housing market crashed. In 2008, a financial crisis spread to much of the world. In 2009, for the first time since the Great Depression, unemployment soared to 10% and only decreasing to about 8.8% by March of 2011.