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Most Americans lived on farms and the government wanted a strong sense of personal independence and freedom in terms of the economic

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Jefferson wanted to remain in an agrarian society with minimal government intrusion while Hamilton wanted a strong central government that would promote manufacturing, infrastructure movements, protective tariffs, national currency, etc.

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1788- Constitution is officially ratified by the 13 states

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1788- Constitution is officially ratified by the 13 states

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All 13 states at this time officially ratify and adopt the Constitution.

Alexander Hamilton insisted that it grant the federal government the power to distribute money, rather than the states. This was done to create a national currency and creditworthy economy.

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Imposed the first U.S. tariffs

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1794- Eli Whitney invents the Cotton Gin

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1794- Eli Whitney invents the Cotton Gin

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This is one of the first modern "industrialized" inventions of America, that allowed for the rapid production of a product, in this case cotton.

Unfortunately, this also heavily encouraged slavery, as it allowed for slaves to rapidly harvest the plant in greater quantities.

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The Slave economy was extremely important to the South, and set a precedent for the future where black people were economically and socially oppressed.

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1812-1814: United States at war with Great Britain

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1812-1814: United States at war with Great Britain

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Roughly 15,000 US soldiers died fighting for their country.

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The Indian Removal Act was signed into law on May 28, 1830, by United States President Andrew Jackson. The law authorized the president to negotiate with southern Native American tribes for their removal to federal territory west of the Mississippi River in exchange for white settlement of their ancestral lands.

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Samuel Morse's invention of the telegraph allowed for rapid communication over great distances, which revolutionized how America expanded. It allowed for businesses to perform financial transactions, and communicate more efficiently for better projected growth.

Unfortunately, it may have also pushed America to civil conflict even faster, as the news of the brutality of slavery spread even quicker with the telegraph. Logically, abolitionism and the hatred for the practice of slavery would only grow and push feuds into armed conflict.

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1855- William Walker conquers Nicaragua and legalizes slavery

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1855- William Walker conquers Nicaragua and legalizes slavery

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Legalizing slavery started a new era of labor and production of goods, as-well as bringing fear and pain to the lives of innocent people.

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11 southern states seceded from the United States and created the Confederate States of America. Which ended slavery cutting off the South's way of getting money.

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This railroad created a true national economy and also allowed the country to trade on equal terms with Europe and Asia. The economy was driven by railroads

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U.S. manufacturing and commercial output surpassed farming output. European backing allowed railroads and the industry to proliferate, which also attracted immigrant workers to the bustling North cities

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"A short-lived Populist political party, focusing anger at wealthy financiers and industrialists, demanded lower interest rates on loans and inflationary monetary policy to let debtors repay their debts with less valuable dollars." (economic evolution article)

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Early 1900s- Enforcement of antitrust acts and the separation of monopolies

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Early 1900s- Enforcement of antitrust acts and the separation of monopolies

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Progressivism dominated politics during this time period, with presidents such as Teddy Roosevelt enforcing antitrust laws, which resulted in the break up of multiple industry monopolies. (oil, steel, railroad...)

Woodrow Wilson was also an enforcer of such policies, and strengthened such antitrust legislation to further the effects. He also began the collection of income taxation on wealthy individuals and large corporations.

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it onset one of the Great Depressions. Prices collapsed, impoverishing farms, businesses and families. About 40 percent of U.S. banks failed and many depositors lost their savings. The U.S. unemployment rate approached 25 percent. This caused many people to lose their money having a huge effect on our economy

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1932- The election of Franklin D. Roosevelt

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1932- The election of Franklin D. Roosevelt

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Roosevelt created a new economic program. He launched many programs aimed to stop the banking crisis, creating more jobs for the unemployed, and he also raised farming prices. He created the minimum wage law, the Social Security system, and regulation on banks and the market.

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The introduction of the US into the war is agreed upon by many as the point where America began its economic boom.

War requires great amounts of resources and supplies. As a result, it requires methods that allow for quick production of large quantities.

Standard assembly lines are what the US utilized to do so. They were able to standardize on a set of production methods that allowed for a quick creation of a great quantity.

Since America possessed this huge surplus of equipment manufactured, it could sell a good deal of it to allies in return for profit. As this was implemented on a great scale, it is logical that the American economy boomed during and after the war, as the production methods remained.

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1944- Creation of the international monetary fund and World Bank

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1944- Creation of the international monetary fund and World Bank

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Helped promote a balanced global financial system. The IMF oversees the stability of the world's monetary system, while the World Bank's goal is to reduce poverty by offering assistance to middle-income and low-income countries.

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Increased government spending

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International trade and finance became ever more crucial to the U.S. economy. The value of farm and factory output was surpassed by the output of services such as wholesale and retail trade, finance, real estate, health, law, and education.

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Brown v. Board of Education of Topeka was a landmark 1954 Supreme Court case in which the justices ruled unanimously that racial segregation of children in public schools was unconstitutional.

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Increased government spending

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Johnson urged Congress to rapidly increase the safety net by passing Medicare and Medicaid

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Tax cuts and business deregulations caused economic expansions and a huge rise in stocks. These policies marked the start of the climb of government debt. Widened income gap between the wealthiest Americans and the rest of the population

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1980s-2000s- The rise in the Californian Silicon Valley

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1980s-2000s- The rise in the Californian Silicon Valley

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As Silicon Valley created technological innovations such as the scaled down computer, it opened up a brand new horizon of economic growth.

Not only did it create new domestic and international consumer markets, but it also created an economic expansion along with increased prosperity and a vastly improved stock market.

Like the telegraph, computers paved the way for further improved communication. The relatively recent invention of email allowed for business dealings to be conducted at light speed, which increased the efficiency and speed in which businesses developed and grew.

Companies such as Google were founded during this age, and eventually provided a massive internet service. Not only did it make web use much more efficient for all, but it simultaneously created numerous jobs, furthering this time period of economic growth.

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These two conflicts quickly amassed cost for the US.

Meanwhile in the states, healthcare provision cost rose sharply for the federal, local, and state governments. This was coupled with the fact that the federal debt was quickly rising to 14 trillion in 2011 from 3.4 trillion in 2000. This surely would derive money from domestic programs such as healthcare, and reallocate it to payoffs. As a result, citizens could be stuck with paying a higher tax to supplement the funds for debt and public services.

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Highest unemployment rates since the Great Depression. Economic stimulus' given out, interest rates lowered, High unemployment rates persisted in the years following