Lecture 9

1. Lecture 9
The Economic History of the United States

3. 3rd Quiz
Thursday, September 21
Srinivasan - Chapters 1-15

4. Midterm Essay
Midterm Exam
Wednesday October 11, 2023

5. My Family's
American Economic History
Midterm Essay
3,000 Words

6. My Family's
American Economic History

8. Venture
Tobacco
Taxes
Cotton
Steam
Canals
Railroads
Telegraph
Gold
Slavery
War
Oil
Steel
Machines
Light

9. Venture
Tobacco
Taxes
Cotton
Steam
Canals
Railroads
Telegraph
Gold
Slavery
War
Oil
Steel
Machines
Light

10. 2/3 of Both Chambers of Congress
3/4 of States
Constitutional Amendment

11. Federal Government
Sources of Revenue
Tariff and Excise Taxes
Income Taxes

12. Revenue Act of 1913
Reduced Tariffs from
40% to 25%
Income Tax of 1% to 7%

13. The Congress shall have the power to lay and
collect taxes on incomes, from whatever
source derived, without apportionment
among the several States, and without regard
to any census or enumeration."
16th Amendment
February 3, 1913

14. Federal Government Revenue
1912: $693 milion
1920: $6,649 million
9.6 x

15. Radio
1912: $693 milion
1920: $6,649 million
9.6 x

16. Venture
Tobacco
Taxes
Cotton
Steam
Canals
Railroads
Telegraph
Gold
Slavery
War
Oil
Steel
Machines
Light

21. Network Effect
Value = 2n
The more people
us it, the more
people use it.

22. Skipping
Technology
First Phone
First Computer
First Camera

23. Skipping
Technology
First Phone
First Computer
First Camera

25. Robert Livingston
1746 - 1813
Declaration
Louisiana Purchase
Steamboat
Erie Canal

33. Louisiana Purchase
$15 million
530 million acres
2.83 cents per acre

34. Robert Fulton
1765 - 1818
Artist
Submarines
Steamboats
Erie Canal