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Telescope
The telescope helped us discover that the Earth was not the center of the universe. It also helped us find new planets and study the moon. This changed the economy because they helped us discover things we never even knew existed. They eventually led to the discovery of the speed of light. They were the basis for creating new ideas and theories that are still used today. -
Enlightenment
Ideas of free trade originated during this period. Also, people were starting to be opposed to slavery and they denounced it. There were thinkers/inventors who came up with new and compelling ideas. Lastly, people came up with the laissez faire economic system and they wanted the government to intervene less. The Enlightenment drastically changed the economy. -
The Treaty of Paris
In the Treaty of Paris, the United States was granted Independence and British troops had to leave American soil. This was considered a great economic achievement. The British gave the Americans all the land east of the Mississippi River. This ended the American Revolutionary War and the United states were happy with what they got. -
Modern Day Battery
This was the first electric battery and it was considered a great achievement and it allowed us the ability to transport energy. It allowed new ideas to thrive like electric cars and this would allow us to create new technology to advance our economy -
Burning of Washington
British troops were angry during the war of 1812 and they went to Washington D.C. and burned the White House, Capitol and other landmarks down. It cost about 3.2 million dollars to repair the White House. The US economy was hurt during the British blockade and Washington was temporarily occupied because the British had won. But afterwards their economy regained its strength and started manufacturing new things. -
Monroe Doctrine
The Monroe Doctrine changed foreign policy forever and it opposed European colonialism. It allowed the US to intervene independently in the trading economy. This helped the economy grow because they could make their own decisions without the help of anyone else and do what they thought was best. They also gained more land to the west which helped with commerce. -
Cars were invented
This changed the economy in so many ways. Cars allowed people to get to places quickly. They show that the economy is developing rapidly and adapting. Cars are most likely safer than other modes of transportation and they allow people more time with their families. Instead of waiting for taxis or trains you could go out whenever you needed. It benefited people and companies. Companies started selling their brands of cars and making a profit. -
T.V Created
The television impacted our economy because that was a big way for companies to advertise their products. Companies pay to put ads all over the t.vs and promote what they are selling. Also, people were willing to pay money for good entertainment and that let the economy gain profit. -
First Subway
Subways allowed people to get to their destinations quicker and cheaper. Some people could not afford cars or it was too congested in the cities to get to places quickly. Subways allowed a convenient mode of transportation that allowed the economy to grow and prosper. -
OPEC oil embargo
The OPEC embargo oil was a decision made that did not allow the United States to receive oil exported to them. This changed the economy pretty quickly because the prices quadrupled over the next few months. The embargo ended in March of 1974 and the prices were higher then when the embargo started. The priced remained super even after it ended. The oil embargo is also blames for causing the recession in 1974.Also, the government raised and lowered interest rates multiple times during the embargo -
9/11
9/11 changed the way we look at terrorism forever. It opened up society's eyes to the truth. The terrorist attacks caused the recession to get worst. It was one of the times that the government spend the most money in U.S. history. It cost them 3.3 trillion to help improve the economy. 2,977 people died in the attacks and it was one of the biggest death tolls. Also, the damage of the attacks cost 55 billion dollars. Lastly, the stock market closed immediately after and that hurt the economy. -
Hurricane Katrina
Hurricane Katrina was one of the worst hurricanes to ever hit the United States. About 1,800 people died and millions of other people were left without a home. It cost the US roughly 125 billion dollars in damage and a total amount of 250 billion dollars. Another economic impact was that there were $215 billion losses due to uninsured houses.
