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opposite to capitalism. Share profits with the monarchy, British philosophy of the very early settlers
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"A joint-stock company is a business entity which is owned by shareholders. Each shareholder owns the portion of the company in proportion to his or her ownership of the company's shares (certificates of ownership).[1] This allows for the unequal ownership of a business with some shareholders owning a larger proportion of a company than others. Shareholders are able to transfer their shares to others without any effects to the continued existence of the company." (Wikipedia).
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18th century early 19th century
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"Smith’s radical insight was that a nation’s wealth is really the stream of goods and services that it creates. " (adamsmith.org). radical views on economy of the time
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ruthless competition, monopolies, exploitation of workers and the beginning of labor organization, government probusiness, inequality of income, farmers suffer (late 19th century)
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Interstate Commerce Act
Sherman Antitrust Act
Federal Reserve System
(late 19th early 20th centuries) -
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Great depression of 1930s, mobilization for WWII
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1945-1960
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1963-1969
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1970s.
Nixonomics (Richard Nixon) -
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1980s
growth of national debt, trade imbalance and increase global competition -
1998-2002
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2008-2010