Colonial America
Warm weather and plentiful rainfall, staple crops such as tobacco & rice. As the demand for these crops grew, so did the demand for slave labor. Few large landowners.
Southern colonies
Cash crop of the South during the Antebellum period?
Cotton
organized association of workers that are formed to protect and further their rights and interests.
Labor Unions
How does credit work? What was the problem with using credit for so many people?
Buy now pay later, many people piled up enormous amounts of debt and had trouble paying it back off.
Goal of the Great Society programs created by LBJ
To End Poverty
Few colonists owned huge tracts of land. Settlers gathered into church congregations, residents were often devoted to catching fish and engaging in trade. Whaling & fishing, shipbuilding industry were dominant.
New England Colonies
What technological invention resulted in a increase of slavery?
Cotton Gin
Urbanization?
The increase in population and expansion of cities
Bottom fell out, shareholders frantically sold their shares driving prices lower. 16.4 million shares were dumped. Marked the beginning of the Great Depression
Black Tuesday Stock Market Crash
Major economic problem during the 1960-1970s that resulted in the increase in the price of goods and services, stagnant economic growth and high unemployment.
Stagflation
Reflected the diversity of colonial life, wheat, barley, oats, and livestock, but more plentiful due to the more fertile land, many diverse ethnic groups and religious tolerance
Middle Colonies
This devasting famine led to an influx of poor Irish Catholic families to America?
Potato Famine
Powerful organizations that used patronage and corruption to control local politics (Tammany Hall in New York City, led by Boss Tweed.)
Political Machines
What was a result of the Stock Market Crash?
Many people ran to banks (bank runs) to withdraw their money, but many banks couldn't give people their money because they had lost it in the market. Many banks then failed 11,000 out of 25,000
What made up Reagonomics?
Tax Cuts
Reduced Government Spending
Deregulation
Deficits
Controlling the money supply
In the early American colonies, there was a labor shortage due to the expanding economy. This then resulted in a practice where servants agreed to work three to seven years in exchange for their “master” paying for their travel to America
Indentured Servitude
Who were among the first to be employed to work in the mills and factories?
Young Women
Big Business?
powerful corporations or industries, especially those that dominate a sector of the economy. These businesses often have significant influence over politics, labor, and the economy due to their size, wealth, and reach.
President Herbert Hoover’s philosophy during the early years of the Great Depression?
Hands off with the Government and the Economy. Thought that the economy would fix itself, and believed in little to no government intervention.
What started the 2008 Financial Crisis
The Housing Market Collapse
Name all 13 colonies?
Georgia, South Carolina, North Carolina, Virginia, Maryland, Delaware, Pennsylvania, New York, Rhode Island, Massachusetts, New Hampshire, Connecticut, New Jersey
1. During the Market Revolution many Americans moved away from producing stuff for themselves and instead started producing good for?
2. What types of new transportation increased travel and trade?
1. others to then sale
2. Roads, Canals, Steamboats, Railroads
Captain of Industry?
Robber Baron?
Captain of Industry: describes a business leader who amassed personal wealth while also contributing positively to the country by increasing productivity, creating jobs, or supporting philanthropy.
Robber Baron: businessman who gained wealth through exploitative practices, such as monopolizing industries, paying low wages, and using unfair or unethical business tactics.
FDRs Plan to get the American people and the American Economy back on its feet?
The New Deal
Relief
Recovery
Reform
Banks gave out a large number of these to people with poor credit, which is very risky. When many of those borrowers defaulted and the housing bubble burst, it triggered a massive financial crisis that affected banks, businesses, and global markets.
Subprime Mortgages