ECONOMIC TRENDS What are the political and social impacts of economic developments ????? Manufacturing expanded during war Bank of No. America then 1 st Bank of U.S. Land Speculation States charter business corp. Outwork system grows ECONOMY OF A NEW NATION 17 8 0 - 1 810 OUT WORK= OPPORTUNIT Y FOR WOMEN 1816-1836: 2 nd Bank of US Supreme Court guards property Erie Canal Protective Tariffs U.S. Textiles compete w/Britain Manufacturers grow in Midwest ECONOMIC REVOLUTION 1820-1850 IN WHAT WAYS DID THE EMERGING INDUSTRIAL ECONOMY CONFLICT WITH ARTISAN REPUBLICANISM? RESPONSE TO PROMPT Common law against unions until Commonwealth v. Hunt (1842) prioritize workers’ individual rights and business rights Producing v. non-producing society=workers as commodity Mechanization increased supply faster than demand Rise of Sharecropping after CW Railroad expansion Homesteading and ranching Vertical Integration Emergence of managerial work Economic cycles provoke calls for reform INDUSTRIAL REVOLUTION & NATIONAL ECONOMY 1 87 0 - 1 910 PROBLEMS WITH TRUSTS Erosion of labor rights Isolationist Trade-tariffs Oligopolies Consumer culture Radios Refrigerators Cars Stock market bubble Fragile banking BOOM & BUST 1920s-1930s Military Industrial Complex Increase in real wages Consumption economy Infrastructure & suburbanization Gov’t Spending on Great Society then Vietnam POST WAR BOOM 1 9 4 5 - 1 97 0 POLITICAL AND SOCIAL IMPACTS C o n s um p t i o n C o n f o r m it y Sunbelt ECONOMIC DEVELOPMENTS… Have political and social impacts.