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Economic Timeline
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Creation of US Economy
British colonist come to America for resourses and oppertunity and creat a barter trade system as an economy. -
Beginnings of Slave Trade
Slave Trade allowed farm-owners to get free labor. This increased profit and made cotton and other things less expensive. -
Steam Engine Developed
The steam engine is developed which will raise the demand for travel, and steam engines, but lower the demand of human and animal based labor now that the steam engine does all the work for them.
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Westward Expansion
This event changes the economy greatly, because not only does it raise the supply and demand of land itself, it raises the availability an supply of the resources found on that land, making the economy stronger as a whole.
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Industrial Revolution Struck America
This was the time when products became easier to make and more mass produced. -
Gold Rush
After a discovery of a golden rich state, many people uprooted their families in hope of getting lucky. Increased the population of the West Coast and is still heavily populated in areas such as LA and San Fransisco. -
Civil War
The National Debt suffered immensly from the Civil War. After having a debt of 79$ million in 1789 when Washington took office it had decreased to 65 million dollars in 1860. At the end of the Civil War the national debt had increased to 2.7 billion. -
Ford Gets Freedom
After years of a monopoloy over the car Business A.L.A.M grants Ford permission to make cars. Ford soon makes cars using the Assembly line, and changes the wage of workers to 5 dollars. -
World War 1
World War 1 begins, which will greatly change the economy to come, not only will there be more demand for weapons, food, metals, and other resources, there will be less suply because all the men who would be working are out fighting in the war.
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Great Depression
The great depression was a very bleak moment in our ecconiomies history. After the stock market crashed, every person who invested their money into the stock market lost everything and many people and businesses went bankcrupt for a very long time, and many people lost their jobs. All in all the US manufacturing hit an all time low. -
US invovment in WWII
once the US entered the war the vacant factories that had gone bancrupt in the great depression became active to create weapons of war. this created jobs and a much healthier GDP. -
The Internet is Gobal
The internet is changed from a few computers hooked up to a small network, into a world wide internet, called the World Wide Web. This will effect the ecconomy to come, with communication, and easier demand.
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