https://padlet.com/nlynch47/g2rhipu443hp48xr Kate, Jonas, Leo, Madelyn Directions: Use evidence from the article to create a timeline showing the progression of events that formed the American Economy. en-us 2021-03-05 00:47:13 UTC 2021-03-12 17:37:42 UTC hello@padlet.com https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303155813 Eight out of 10 Americans lived on farms, mostly just feeding themselves. Economy relied on farming.]]> 2021-03-12 16:12:12 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303155813 dh1002171 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303373203 Outlined the federal governments role in the economy, gave the federal government and not individual states the power to issue money. Some of the things established in the constitution include: that only the federal government can grant patents and copy writes, and that tariffs are prohibited on goods moving between states. ]]> 2021-03-12 16:57:47 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303373203 aj1002176 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303374224 The worst economic downturn in history of the industrialized world throughout the United States. This lasted between 1929-1939, and began after the stock market crash of October 1929. This crash sent Wall Street into a large panic and wiped out millions of investors.]]> 2021-03-12 16:58:02 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303374224 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303382060 Congress expanded the power of the government. Passed the first national tax system, issued a national paper currency, payed for public land-grant colleges and started construction of the first transcontinental railroad.]]> 2021-03-12 16:59:43 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303382060 aj1002176 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303388503 This was a global economic downturn that devastated the banking and real estate industries, and also world financial markets. The led to increases unemployment, home mortgage foreclosures, and caused millions of people to lose their life savings and their homes.]]> 2021-03-12 17:01:10 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303388503 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303394331  Rural Southerners imposed the first U.S. tariffs to raise revenue and to protect U.S. manufacturers of glass, pottery and other goods.]]> 2021-03-12 17:02:26 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303394331 dh1002171 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303402790 President Roosevelt's solution to the Great Depression. The goal was to halt the banking crisis and create jobs for the unemployed. Many of the initiatives that were enacted only lasted a few years but some, including social security, and the minimum wage law, still exist today. ]]> 2021-03-12 17:04:11 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303402790 aj1002176 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303404982 Congress passed the first national tax system, which issued a national paper currency (the U.S. dollar) which payed for construction and public land.]]> 2021-03-12 17:04:38 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303404982 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303405578 The first railroads linking the pacific and atlantic coasts together. This increased trades across the country, comparable to the ones is Europe and Asia ]]> 2021-03-12 17:04:45 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303405578 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303413287 Plantation system changed to one of tenant farming. Former African-American slaves and rural whites lived in poverty for most of a century afterward, as abolishing slavery led to many more changes]]> 2021-03-12 17:06:20 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303413287 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303420576 Slavery was the main source of the exportation/importation economy. Was the leading factor to a successful American economy in its early time periods]]> 2021-03-12 17:07:45 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303420576 dh1002171 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303424271 Economy recovered fully from the great depression in the 1940's because of World War II. Factories worked to provide war materials and the auto industry shifted to making tanks. After the war the United States was one of the strongest economic powers, because of all the destruction that had occurred in Europe and Asia.]]> 2021-03-12 17:08:30 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303424271 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303424394  Debt-ridden farmers in the South and West were battered by tight credit and falling commodity prices. Severe economic recessions wracked workers and businesses]]> 2021-03-12 17:08:31 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303424394 aj1002176 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303431112 The New York Stock Exchange prohibited its members from trading in the streets outside. ]]> 2021-03-12 17:09:56 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303431112 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303431128 The 1920s saw strong U.S. economic expansion and prosperity for many Americans but also increasing speculation in the stock market. Ended with a crash in 1929

]]> 2021-03-12 17:09:56 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303431128 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303436367 In this year, congress passed the "Sherman-Anti-Trust-Act", the first Federal act that outlawed monopolistic business practices.]]> 2021-03-12 17:11:01 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303436367 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303436596 The world’s wealthiest countries subsequently negotiated a General Agreement on Tariffs and Trade for reducing import tariffs.

]]> 2021-03-12 17:11:05 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303436596 aj1002176 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303437326 Subsequent to the Civil War, slavery ended. During this time, many faced poverty along with white people. White people heavily relied on slaves to make money.]]> 2021-03-12 17:11:13 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303437326 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303440354 Rockefeller, the founder of Standard Oil, and his partners took advantage of both the rarity of oil and the revenue produced from it to set up a monopoly. Standard Oil broke up in 1911 as a result of a lawsuit brought against it by the U.S. government in 1906 under the Sherman Antitrust Act.]]> 2021-03-12 17:11:50 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303440354 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303441754 The US ranked 1st in imports and 3rd in exports. Americans experienced periods of unprecedented economic expansion and prosperity, propelled by Americans born in the 1946–1964 “baby boom.” The recessions that did occur in the postwar years until 2000 were relatively short and did relatively less harm to Americans’ lives than the depressions of previous eras.

]]> 2021-03-12 17:12:06 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303441754 dh1002171 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303441922 President Lyndon Johnson passed Medicare and Medicaid in 1965. These two programs are government health insurance for American citizens who are either elderly or living in poverty.]]> 2021-03-12 17:12:08 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303441922 aj1002176 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303460146 The Affordable Care Act is also commonly known as Obamacare. It is a United States federal statute enacted by the 111th United States Congress and signed into law by President Barack Obama on March 23, 2010.]]> 2021-03-12 17:15:52 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303460146 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303462571 -The economy added 6.7 million jobs
-Unemployment fell to the lowest rate in half a century.
-Stock prices hit record levels.
-The number of people lacking health insurance rose by nearly 2 million]]> 2021-03-12 17:16:22 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303462571 aj1002176 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303468420 Created a demand, supply, and financial shock all at once.]]> 2021-03-12 17:17:18 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303468420 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303484896 U.S. gross domestic product by year reveals that the war boosted the economy out of a recession caused by the end of the Korean War.]]> 2021-03-12 17:20:47 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303484896 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303490415 The Vietnam War severely damaged the U.S. economy. Unwilling to raise taxes to pay for the war, President Johnson unleashed a cycle of inflation. The war also weakened U.S. military morale and undermined, for a time, the U.S. commitment to internationalism.]]> 2021-03-12 17:22:00 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303490415 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303499847 Passed by Congress in 1909, The Sixteenth Amendment allows Congress to impose an income tax.]]> 2021-03-12 17:24:00 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303499847 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303514017 An inflationary spiral began during the Johnson administration and got worse. Nixon had briefly imposed government wage and price controls in a failed attempt to arrest inflation]]> 2021-03-12 17:27:02 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303514017 aj1002176 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303518676 In the early 1980s, the economy in the United States was suffering through a deep recession. Business bankruptcies rose sharply compared to previous years, and farmers suffered due to a decline in agricultural exports, falling crop prices, and rising interest rates. The U.S. federal reserve greatly raised interest rates. ]]> 2021-03-12 17:27:59 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303518676 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303534848 There was tremendous economic down fall because of increase military spending coasideingn we were in the Vietnam war, just finishing the Korean War. In addition leading to increased taxes]]> 2021-03-12 17:31:27 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303534848 aj1002176 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303540059 The United States reached new heights of prosperity in the years after World War II.]]> 2021-03-12 17:32:34 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303540059 aj1002176 https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303556711 During this time, there was strong economic growth, low inflation, economic boom, steady job creation, rising productivity, and a surging stock market that resulted from a combination of rapid technological changes and sound central monetary policy.]]> 2021-03-12 17:36:13 UTC https://padlet.com/nlynch47/g2rhipu443hp48xr/wish/1303556711