History of the Economy

  • Period: to

    Agricultural Era

  • Sixty-Five Million Acres of forests are cleared for farming

    Between 1630 and 1880. Increased agricultural production.
  • Period: to

    Industrial Era

  • Cotton became one of the largest crops to grow

    Cotton is now the main source of revenue for farmers in the Southern States of America
  • Tobacco is not the largest export

    Tobacco was the most valuable export from the U.S. until this date
  • Invention of the Cotton Gin

    It could separate seeds from cotton almost 50 times faster than humans can. It rapidly increased production.
  • Stock Market Crashes (Black Tuesday)

    Beginning of the Great Depression
  • Period: to

    Production of Services

  • Korean War

    Kept interest rates very low!!!
  • Period: to


  • The North American Free Trade Agreement (NAFTA)

    Improved banks freedom and benefited them greatly.
  • GM and other major banks file for bankruptcy

    This was a major event because it was proof that our economy was in serious jeporady.
  • ObamaCare

    Puts higher tax penalties on young workers