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The start of America
America becomes a country. This is the beggining of the united states econmy.
http://nexus-wallpaper.com/wp-content/uploads/2013/07/1038390_1372439462996_o.jpg -
Period: to
Americam Economy
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Panic of 1797
It was the first economic panic that the United States experienced, it made the economy fall into more of a depressive state. American ports had to be closed due to a yellow fever epidemic, and Britain was withholding payments that they owed us.
http://247wallst.com/investing/2010/09/09/the-13-worst-recessions-depressions-and-panics-in-american-history/
http://247wallst.com/investing/2010/09/09/the-13-worst-recessions-depressions-and-panics-in-american-history/ -
Louisiana Purchase
America purchased the Louisiana purchase from France. The new area of land helped the nations economy. The economy enters prosperity.
http://www.history.com/topics/louisiana-purchase
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The panic of 1819
The panic of 1819 put the american economy into recession. It was caused by over speculation of the land, which impacted the economy because people expected more money out of the land but they were wrong.
https://en.wikipedia.org/wiki/Panic_of_1819
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The Erie Canal
The Erie Canal was created in 1825. It boosted the economy of The Great Lakes and New York area. It helped bring the United States economy up towards prosperity.
https://en.wikipedia.org/wiki/Erie_Canal -
Panic of 1837 and The Bank War
The Panic of 1837 was due to Andrew jackson trying to eliminate the second national bank by removing funds from it and giving them to banks. The banks went crazy over the money and loaned most of it out so people could buy houses, but many of the people could not pay the loans back and it lead to a large recession.
http://www.americaslibrary.gov/aa/buren/aa_buren_panic_2.html -
The Gold Rush of 1848
When gold was discovered in California, people poured in to try to make themselves rich. It made the economy grow because it created job opportunities, and almost every states invested in some way. It helped the economy because it brought people to California, and created jobs for many more people.
http://www.history.com/topics/gold-rush-of-1849 -
The Federal Reserve Act
After the Federal Reserve act was the created the economy went into recovery. The act intended to create a form of economic stability. It gave 12 banks the ability to create money so economic panics would stop happening.
http://www.investopedia.com/terms/f/1913-federal-reserve-act.asp
https://www.pinterest.com/pin/543387511261059931/ -
The Assembly Line
THe creation of the assembly line by Henry Ford greatly decreased the production time for making goods. It made mass production, and when others started using it, many other goods could be produced in large quantities. It boosted the economy.
http://www.history.com/this-day-in-history/fords-assembly-line-starts-rolling -
Worl War 1
The need for goods and weapons in world war one was very high, so the United states took the job as the supplier of war materials. In the time period between the beginning of the war, and the United States joining the war, the war helped our economy. https://en.wikipedia.org/wiki/World_War_I -
Black Thursday
The United states economy falls into depression after the largest crash the stock market has ever had. The crash causes America to go into a 12 year depression, also known as the great depression.
http://boerse.ard.de/nomapping/black-thursday-1929-audio-100~_pd-1366317111921_v-timeline.jpg
http://www.english.illinois.edu/maps/depression/about.htm -
World War 2
The American economy finally gets into the recovery state. World war 2 caused a spike in need for jobs. All the people that were jobless found jobs for building weapons or joining the military. World War 2 ended the great depression.
http://www.learner.org/series/econusa/interactivelabs/economic-timeline/
http://www.ww2incolor.com/news/site-updates/15-astonishing-world-war-2-photos-that-bomb-your-senses -
Space Race
The space race put America towards economic prosperity. The competition with Russia called for new technology and industry, which raised America's exportation amounts and economy.
http://spacerace1957.weebly.com/economic-impact.html
https://spaceraces.wikispaces.com/ -
Vietnam War
The United States economy rises even more into prosperity after they enter a war with Vietnam. The war calls for more armed weaponry and other items used for battle. The war also creates many jobs in factories for making those weapons.
http://www.historycentral.com/sixty/Economics/Vietnam.html
https://www.awm.gov.au/atwar/vietnam/ -
Housing Market Crash of 2007
The housing market crash of 2007 was very bad for the United States economy becasue people were being allowed to take out house loans too easily, and it lead to people not being able to pay the loans back. It was a recession becasue it made the economy go dow.
http://www.stockpickssystem.com/housing-market-crash-2007/
