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Tobacco is Exported from the Colonies
Starting with James Rolfe in Virginia, tobacco began to be exported from America. This made America officially an exporting region of economic value. -
Currency Act
The Currency Act helped economic growth in the Americas by creating a regulated currency with Great Britain and helped boost the economy, leading to the Revolutionary War. -
Louisiana Purchase
The Louisiana Purchase impacted the economy, doubling the size of the United States and allowed migration West, providing many agricultural opportunities. Because the newly purchased land was rich with resources, such as coal, gold and oil, there was a lot of economic opportunities for the country, and the individuals within. -
The Civil War
The Civil War largely effected the economy in very different ways. For example, the freeing of slaves resulted in a $2 billion economic loss. The North, on the other hand, with strong manufacturing capabilities, produced 17 times more cotton, and 32 times more weaponry, witnessing large industrial boom. -
Transcontinental Railroad
With the opening of the Transcontinental Railroad, the economy grew largely from the new flow of goods coming from the West to the East. Goods from other places such as Asia and Europe were able to flow easily across the states. -
World War I
There were many impacts on the Earth from WWI, but the war changed the economical balance of the world, leaving European countries deep in debt and making the United States the leading industrial power in the world. Inflation in the US also shot up after the war ended in 1918. -
Black Tuesday (Stock Market Crash)
When the stock market crashed, the economy was effected when billions of dollars were lost, wiping out thousands of investors. By 1933, nearly half of America’s banks had failed, and unemployment was approaching 15 million people, or 30 percent of the workforce. -
World War II
During WWII, the United States was still recovering from the impact of the Great Depression and the unemployment rate was hovering around 25%. Many companies moved from the production of consumer goods to the production of war supplies and military vehicles. Businesses began producing guns, planes, tanks, and other military equipment. Because of this, there were more jobs available, and more Americans became employed. -
Women start working
Immediately following the attack on Pearl Harbor in 1941, millions of men were called to serve in the military. When these men joined the armed forces, they left behind millions of jobs. Instantly, the nation faced a labor shortage that was filled by workers who had previously been denied many employment opportunities. Because of this, more than six million women were a part of the workforce during World War II, and for a lot of them, this was the first time they held jobs outside of the home. -
Apple is founded
Apple was the original maker of personal electronics made for the public. This opened a completely new industry that makes a lot of money every year, and widely impacts our everyday lives to this day. -
9/11
After the attacks on the building, the United States began its "War on Terrorism". This started to turn the American economy downward as huge sums of money went into fighting foreign countries believed to be involved in terrorist activity. The attacks can eventually be linked with the recession that hit the U.S.A. -
The Great Recession
Due to the fact that not a lot of people bought stuff off the stock market any more, the prices and values of stocks severely decreased.
