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In around 1820, American Colonization expanded into the Old Northwest and Southwest while settlers in these areas moved west. Both the Ohio and Mississippi Rivers tied these great land masses together essentially making them one massive piece of land and creating an even bigger trade network. These waterways were very important as the nation grew. -
In 1860, cotton production isolated in a region east of the Mississippi River. This deep south cotton production relied completely on enslaved labor and was the main producer of cotton in America at the time. This area had extremely nutrient rich soil that was perfect for cotton’s growth. This was a central driver for the growth of America’s economy and global trade, which had influence all over the world. -
In 1873, America’s railroad system grew system significantly as finance rose after the Civil War. Investors flooded the railroad market with money creating new lines into the west side of America; however, this high-speed growth came with large amounts of dept. This really came into play when the railroad system collapsed sending many railroad companies into bankruptcy. -
In around the year 1900, the American Manufacturing Belt came into play. It was an industrial region created by capital investments. One factories were put in place, their high cost to run kept competitors away. Railroads had a big role in this by being the ultimate decision maker on where these industries could grow, since they linked major cities together. This connection made the American economy an even stronger unit. -
America’s recovery from the Great Depression mainly began when Franklin D. Roosevelt was elected in 1932. Because of his new policies, the economy started to grow in the positive direction. It was rising even before he was elected, which promoted early gains. FDR giving the nation hope for a strong recovery was a perfect way to give everyone their confidence back and giving the nation a jump-start for a bright future. -
The Interstate Highway System marked a new era in transportation across America. This was a massive internal improvement that the was needed especially because of the vast size of America. By 1958, construction on the highways sped up, linking cities, expanded the nation’s commerce, and reshaped how Americans traveled. Building highways across America boosted suburban growth,and created the American highway system that we know and love today. -
Between 1970 and 1980, the manufacturing belt of the Midwest and Northeast faced a drastic decline when factories shut down and the economy dropped. This created a shift, opening more jobs in the Sunbelt, where expanding infrastructure, lower costs of goods, and new economic opportunities were seen all over the country. This attraction brought workers and all kinds of new businesses, reshaping America -
The NASDAQ index spiked greatly during the “new economy” (Levy 55) boom, which was mainly driven my the new and exciting tech companies that were dominating at the time. Investors put their money in these new technological companies promising growth. These high-tech stocks made the NASDAQ flourish in a positive direction. However, this would cost the American people billions in the 2008 crash. -
In 2001, China entered the World Trade Organization which created a massive wave of low-cost imports into the United States. Many American businesses were hit hard by this change, especially those who produce light manufacturing products that China could make at a cheaper price. This created job losses and factory closures showing how global trade can have an impact on the American economy. -
When credit spreads were widened the severity of the 2008 economic crisis was truly shown. Fear began to rise, people started to turn to safe government lending instead of going the private institutions because of it being riskier. The increasing rise borrowing costs have a major strain in credit. This strain created a freeze in lending and loans threatening jobs and businesses.
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