-
Steam Engine
Allowed the use of steam to power locomotives and boats for easier transportation of goods, and with easier transportation came more income. http://en.wikipedia.org/wiki/Steam_engine -
Period: to
Industrial Revolution
The economy gained a sustained growth during this period. http://www.princeton.edu/~achaney/tmve/wiki100k/docs/Industrial_Revolution.html -
Sewing Machine
Created production of clothing and fabrics easier which increased need and production, as the production increased and need increased the prices dropped making more people buy the product. http://sewingmachine.umwblogs.org/the-sewing-machine-its-impact-on-america/ -
Cotton Gin
Increased production of cotton products making them cheaper and quicker to make therefore significantly increasing the economical position. http://www.history.com/topics/cotton-gin-and-eli-whitney -
Louisianna Purchase
US paid 15 million dollars adding more land. With more land trade bosted the economy. -
Period: to
World War I
Many European countries purchased American products and materials during the war, lots of money was made for American businesses.
(http://www.pbs.org/greatwar/timeline/) -
Stock Market Crash AKA "Black Thursday"
Stock plummeted, banks and businesses lost nearly all of their money, started the Great Depression.
(http://history1900s.about.com/od/1920s/a/stockcrash1929.htm) -
Period: to
The Great Depression
Huge economic depression, many millions left unemployed, stock values plummeted.
(http://www.history.com/topics/great-depression) -
Period: to
World War II
Economic boom, production and industry of military products skyrocketed.
(http://www.ushmm.org/wlc/en/article.php?ModuleId=10007306) -
Period: to
The Cold War
While government spending was very high, the GNP was massive due to the competition with Russia.
(http://library.thinkquest.org/10826/timeline.htm
http://www.independent.org/publications/article.asp?id=1297) -
Period: to
Oil Embargo
Oil prices quadrupled. -
Period: to
The Great Recession
Huge spike in home prices, unemplyment rate, and insurance costs.
