Lecture 1

1. Lecture 1
The Economic History of the United States

2. ECON 1740
The Economic History of the United States

3. Dr. Gale L. Pooley, Ph.D.
Email: gale.pooley@utahtech.edu
Phone:
Office: HGB 227
Office Hours:
Tuesday 12:00 - 2:00
or by appointment

9. Syllabus

10. Read and Write

11. 8 Quizzes
2 Exams

15. This universe is
finite, its resources,
finite…
if life is left
unchecked, life will
cease to exist.
It needs correction.

16. Economics is not about atoms
Economics is about knowledge

18. The difference
between our
age and the
Stone Age is
entirely due to
the growth in
knowledge.
George Gilder

21. Make me
an iPhone We need
Innovation
Sorry, I don't
have the
knowledge

22. Knowledge transforms
atoms into resources

23. Economics is the study of
how human beings create
value for one another by
discovering knowledge

24. Resources = Atoms + Knowledge
Quiz
True or False?
Can resources be infinite?
Yes or No: Why?
∞
∞
Infinite
Not Infinite

26. John Steele Gordon

27. Timeline

28. Timeline
2023
1607
416 Years

29. Angus Maddison

31. 2016
1
AD
$2
$100
$30 World
15x
Northern Europe
North America
50x
1820

32. ourworldindata.org

33. When
Where
Who
How
Why