United States of America: Economic Powerhouse
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The US has the largest economy in the world. How did it get there? It is a history of booms and busts; science and technology; and heroes and scoundrels.
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United States of America: Economic Powerhouse
- 1. United States of America Economic Powerhouse
- 2. Beginnings • Alexander Hamilton • Federalism • Strong Nation State • Strong Executive • Central Bank • Stock Market • Manufacturing • National Debt • Taxes • Standing Army • Thomas Jefferson • States Rights • Small National Government • Agriculture • No Taxes • No Army; just Militias
- 3. Ideal of Self Made Man • Benjamin Franklin – Autobiography – Early to Bed, Early to Rise – A Penny Saved,
- 4. Manifest Destiny • Natural Resources • Louisiana Purchase • Rivers • Westward Movement • 1849: Gold!!!
- 6. Civil War • Industrial North • Agricultural South • Slavery
- 7. Reconstruction • Railroads • Telegraph • Morse Code
- 8. Gilded Age • Standard Oil • John D. Rockefeller • JP Morgan – US Steel – Con Edison • Railroad Tycoons – Leland Stanford – Huntington – Jay Gould – Commodore Vanderbuilt
- 9. Teddy Roosevelt • Monopolies • Anti Trust Legislation
- 10. Great Depression • October 29, 1929 • Black Monday • Bank runs • Unemployment • Homeless • FDR
- 11. WW II • Industrial might • DC3 • Tanks • Petroleum Fuels • Liberty Ships – Henry Kaiser • Ammunition • Science – Vannevar Bush – Alfred Loomis • Radar • Atom Bomb – Leslie Groves – Robert Oppenheimer
- 12. Alfred Loomis The Untold Story of the American Entrepreneur Who Helped Build the Atomic Bomb and Defeat the Nazis. Legendary financier, philanthropist, and society figure Alfred Lee Loomis gathered the most visionary scientific minds of the twentieth century -- Albert Einstein, Werner Heisenberg, Niels Bohr, Enrico Fermi, and others -- at his state-of-the-art laboratory in Tuxedo Park, New York, in the late 1930s. He established a top-secret defense laboratory at MIT and personally bankrolled pioneering research into new, high-powered radar detection systems that helped defeat the German Air Force and U-boats. With Ernest Lawrence, the Nobel Prize-winning physicist, he pushed Franklin Delano Roosevelt to fund research in nuclear fission, which led to the development of the atomic bomb.
- 13. Science and War • The Chemists won WW I • The Physicists won WW II • The Mathematicians will win WW III – Cyber war
- 14. Post War Boom • Pent up Demand • Cars – Motels/Interstate Hwys • Homes – Suburbs/BBQs • GI Bill – University Education • Marshall Plan – Rebuild Europe
- 15. 60s • Social Change • Counter Culture • Civil Rights • Women’s Movement • Space Race • Vietnam – Guns and Butter
- 16. Yuppies • Hippies get acquisitive and become lawyers • Women enter the workforce in big numbers
- 17. Silicon Valley • HP • Fairchild • Intel • Microsoft • Apple
- 18. WWW • Internet • Web • WiFi • Cellular Networks • Smartphones • How do these tools effect productivity?
- 19. Financial Crisis 2008 • Housing Market • Securitized mortgages • Ratings Agencies • Bad bets on housing market • Derivatives • CDS • Leverage
- 20. Recovery • Labor sluggish • Automation • Robots and AI • Race Against the Machines • Corporate Profits Recovered • Wages Stagnant