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economy relied on exports and imports of resources

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outlines federal governments role in economy. Gives the federal government power over the economy rather than the people. A with from a laissez-faire approach.

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A majority of Americans live off of farms and survive off of their own resources

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Created tariffs that protected U.S. individuals who manufactured goods

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In 1861, America became divided with 11 southern states leaving to form the Confederate States of America. This was a huge turning point in the American economy because agriculture largely depended on exploiting the free labor of slaves.

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The Civil War officially ended; the north and south unified once again

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Expanded the economy and allowed equal trading terms with Asia and Europe.

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"U.S. manufacturing and commercial output surpassed farm output in value."

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Inventions increased farming productivity - 1890

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Inventions increased farming productivity - 1890

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"the typical time required for a farmer to produce 100 bushels of wheat plunged from about 300 hours to roughly 50"

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Roosevelt enforced the antitrust law in order to break up the concentrations of power in oil, railroads, tobacco, and beef.

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The short-lasting populist party "demanded lower interest rates on loans and inflationary monetary policy to let debtors repay their debts with less valuable dollars"

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" Severe economic recessions wracked workers and businesses"

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In the early 1900s a new political movement called Progressivism received support from many influential leaders in both political parties. Progressivism was a movement that focused pouring resources into industrializing and technological advancement. 🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑

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A central bank in the U.S. called the Federal Reserve was created for the first time since the 1830s

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Economy starts off well and grows but by the end of the decade the stock market crashed

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Many programs aimed at fixing the banking crisis

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the great Depression and Roosevelt -

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The government put high restrictions on the economy to prevent enemies from stealing their resources. Economy was at its best

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Korean War cost America nearly half a trillion (adjusted to inflation). As imagined, the economy was not as strong during this war.

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The U.S. grew to become the greatest economic power in the world.

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peak in economic spending because of war

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vietnam war