-
17th century mercantilism
opposite to capitalism. Share profits with the monarchy, British philosophy of the very early settlers -
Joint stock company
"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). -
self-sufficient farms
18th century early 19th century -
Adam Smith and Wealth of Nations
"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 -
Growth of manufacturing/textile mills
-
Erie canal & canal revolution
-
Increased boom and bust cycles
ruthless competition, monopolies, exploitation of workers and the beginning of labor organization, government probusiness, inequality of income, farmers suffer (late 19th century) -
Century reforms
Interstate Commerce Act
Sherman Antitrust Act
Federal Reserve System
(late 19th early 20th centuries) -
Roaring Twenties
-
Stock Market Crash/Start of Great Depression
Great depression of 1930s, mobilization for WWII -
Post War Economic Boom
1945-1960 -
Great Society/War on Poverty
1963-1969 -
inflation and Nixonomics
1970s.
Nixonomics (Richard Nixon) -
Arab Oil Embargo
-
Reagonomics
1980s
growth of national debt, trade imbalance and increase global competition -
economic slump
1998-2002 -
The Great Recession
2008-2010