https://padlet.com/nlynch47/vr32fdeud4tax5uo Noah, Jesse, Alan, Elliot 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 00:21:30 UTC 2021-03-11 14:18:29 UTC hello@padlet.com https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1283931469 The economy depended heavily on exports of natural resources and imports of many other basic and finished products.]]> 2021-03-08 19:00:02 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1283931469 https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1283933550 8/10 Americans lived on farms where they fed themselves, and the largest U.S. city, New York, had only 22,000 residents.]]> 2021-03-08 19:00:25 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1283933550 ab1002205 https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1283934799 While George Washington was in office, 2 different political parties were emerging. One valued minimal government intervention with self serving citizens, and the other wanted a more centralized government that had bigger control over what happened in the U.S..]]> 2021-03-08 19:00:38 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1283934799 jb1002286 https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1283935864 After a decade of " U.S. economic expansion and prosperity for many Americans", the stock market crashed in 1929. This sent the country into The Great Depression, the lowest point for the economy in the U.S.'s history. The unemployment rate reached 25%. In order to try to bring the country out of this, the government became more involved in the economy. The President at the time, Franklin D. Roosevelt, created many programs with the intent of creating more jobs and helping the economy. His big contribution was "the new deal". This included a minimum wage, social security, and regulations on the banks and the stock market.]]> 2021-03-08 19:00:48 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1283935864 https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1283940726 The war-time Congress passed the first national tax system, issued a national paper currency, payed for public colleges, and started construction of the first transcontinental railroad]]> 2021-03-08 19:01:41 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1283940726 https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1283944262 Gives the federal government and not the individual states the power to issue money. Hamilton’s objective was to create a strong national currency for a creditworthy economy.]]> 2021-03-08 19:02:21 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1283944262 ab1002205 https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1283946721 The United States took control of many manufacturing plants in order to sustain the war effort, converting automobile manufactures into tank manufactures.  Factories helped to supply critical building materials to allied countries to help in the war effort. Government intervened to use private manufacturing complexes in order to help the military be better prepared for the war.]]> 2021-03-08 19:02:48 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1283946721 https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1283949248 U.S. manufacturing and commercial output surpassed farm output in value. With European financial backing, new industries and railroad lines proliferated, attracting immigrant labor to the North’s sprawling cities.]]> 2021-03-08 19:03:16 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1283949248 https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1283956767 Woodrow Wilson, a Democrat, strengthened the antitrust laws and started collecting income taxes from corporations and wealthy individuals. In 1913, Wilson also acted to create the Federal Reserve, the first U.S. central bank chartered since the 1830s.

]]> 2021-03-08 19:04:40 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1283956767 ab1002205 https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1283963472 Less taxes helped to let the American economy to reliably grow during this time.  Increased government debt. It kickstarted reliable growth that would last for 30 years until the recession, but also created a strong and resilient economy]]> 2021-03-08 19:05:50 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1283963472 https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1297856274 11 southern states seceded from the United States and created the Confederate States of America leading to the Civil War.]]> 2021-03-11 13:28:18 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1297856274 ab1002205 https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1297862457 Long and costly wars in Afghanistan caused a lot of national debt and also increased the national debt.  Low interest rates in the housing market led to a massive crash in 2009 leading to an economic recession.]]> 2021-03-11 13:29:31 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1297862457 https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1297873799 This was the first tax on imported goods such as glass, and pottery and created a new age for taxes in the US.]]> 2021-03-11 13:31:50 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1297873799 https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1297875823 This enabled a true national economy to develop. After the Civil War, the American economy was driven by the expansion of the railroads.

]]> 2021-03-11 13:32:14 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1297875823 ab1002205 https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1297880619 Caused by an overbuilt housing market on low interest rates, the recession led to a financial crisis all around the world creating a high unemployment rate. Government spent money to get out of it, knowing they would pay people back once the economy recovered.]]> 2021-03-11 13:33:11 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1297880619 https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1297888257 Debt-ridden farmers in the South and West were hurt by tight credit and falling commodity prices. Severe economic recessions wracked workers and businesses in the 1870s and again in the 1890s.

]]> 2021-03-11 13:34:38 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1297888257 https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1297906923 President Theodore Roosevelt, a Republican, vigorously enforced antitrust law to break up concentrations of economic power in railroads, oil, beef and tobacco.]]> 2021-03-11 13:38:09 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1297906923 https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1297928589 The International Monetary Fund and World Bank were created to promote a balanced global financial system. The world’s wealthiest countries also negotiated a General Agreement on Tariffs and Trade for reducing import tariffs.]]> 2021-03-11 13:42:17 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1297928589 https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1297938776 President Lyndon Johnson pressed Congress to expand sharply the social safety net by passing Medicare and Medicaid government health insurance programs for the old and poor. Congress also adopted many other programs, intended to eliminate poverty by improving education and housing.

]]> 2021-03-11 13:44:11 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1297938776 https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1297975492 Americans experienced periods of unprecedented economic expansion and prosperity. This was propelled in part by the 76 million Americans born in the 1946–1964 “baby boom.” The recessions that occurred in the postwar years until 2000 were relatively short.

]]> 2021-03-11 13:50:59 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1297975492 ab1002205 https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1297999213 Innovation in technologies and new companies focusing on this industry brought a new market to the U.S. which created economic growth as these products became desirable. Silicon valley grew and became a driving force in the economy.]]> 2021-03-11 13:55:01 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1297999213 https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1298018733 Inflation began to occur during the Johnson presidency and it got worse in the 70's. President Richard Nixon briefly imposed government wage and price controls, but inflation persisted. The inflationary spiral did not end until the Federal Reserve raised interest rates sharply in 1981–1982, causing a recession.

]]> 2021-03-11 13:58:27 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1298018733 https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1298040991 Unemployment dropped to 8.8% by March 2011]]> 2021-03-11 14:02:24 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1298040991 ab1002205 https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1298047127 The U.S. economy remains a resilient and strong economy, outpacing China and remaining the largest economy in the world. This makes the U.S. one of the world superpowers in the process.]]> 2021-03-11 14:03:26 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1298047127 ab1002205 https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1298056340 U.S. stepped in the war and funded the south Vietnamese which turned out to be a costly war both in popularity and funds. This was a war to fight communism, however, the public did not want the U.S. to be involved in the war. This strained the government to the limit and caused a lot of damage.]]> 2021-03-11 14:04:57 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1298056340 jb1002286 https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1298076935 New technology has made it possible for peoples jobs to be automated. This saves companies a lot of money, but it is bad for normal people working those jobs. the technology is taking away jobs from real people. however, technology can also create jobs, so it is hard to tell whether these innovations are good or bad for the economy]]> 2021-03-11 14:08:25 UTC https://padlet.com/nlynch47/vr32fdeud4tax5uo/wish/1298076935