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The arrival at the New World brought news of new resources to the Old World. The "discovery" of the Americas led to an economy based on raw materials.
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John Rolfe made the production of tobacco more profitable. As a result, Virginia's and other Southern colonies' economies began to rely on cash crops like tobacco.
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This was the beginning of the widespread use of slaves for agriculture.
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Alexander Hamilton created the United States' economic system based on Austrian econmics and a unified currency opposed to the differing currencies in each state.
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Samuel Slater was a British mechanix who brought his knowledge of factories to America. It was the beginnings of a truly industrialized North and helped spark the increase in child labor.
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The cotton gin made the production of cotton more proftible. It increased the amount of slave labor being used and caused most of the South to develop their economies mainly on cotton and other cash crops.
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Lowell factories were the first to use power machines to produce manufactured goods. It helped pave the road for a more industrialized North.
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Destroying the bank caused currency's value to fluctuate tremendously, causing many problems. Its destruction highlighted many problems the United States banking system.
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People swarmed westward for the chance to become rich. This created an industry almost overnight and transportation of the ore helped the country's infrastructure for trade.
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Pioneers are encouraged to settle pieces of land at the frontier and create more farms. It made the western economy's base agriculture.
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While the Civil War was not originally a war to end slavery, the Union victory was the formal institution of slavery. Also the lack of Northern manufactured goods helped the South's industry grow a little.
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The Knights of Labor are one of the first labor unions of the time. The creation of labor unions marks a change in how workers interact with their employers.
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The transcontinental railroad connected east to west. It allowed faster trade between states than ever before.
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Standard Oil practiced horizontal integration (trusts), a form of a monopoly. Monopolies were more prevalent than ever during the Gilded Age.
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It was created by Samuel Gompers to because of the issues with the Knights of Labor. It used different tactics than the earlier unions like improved collective bargaining.
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It is the first legislation against monopolies. It marked the beginning of the end of fully laissez - faire econmic policies even though it was intially used to suppress labor unions.
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It started American Imperialism which was a significant cahnge from isolationism.
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The Federal Reserve System sets up the modern central banking system and regulates the value of currency. The regulation of currency was not nearly as consistent under earlier systems.
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It further protected labor unions from persecution from the big businesses. It marked a large change in goverment policy which usually supported the needs of the business over the workers.
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The New Deal established the use of Keynesian economics to solve problems instead of Austrian economics.
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The two leaders pledge that after World War II neither country will acquire new territory. This marked the end of American imperialism.
