Econ 1740 Economic History of the U.S. Lecture 7
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Econ 1740 Economic History of the U.S. Lecture 7
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Econ 1740 Economic History of the U.S. Lecture 7
- 1. Lecture 7 The Economic History of the United States
- 6. Area Year Price Size in Acres Per Acre British America 1784 negotiated 529,280,000 Louisana Purchase 1803 $15,000,000 530,000,000 $0.03 Florida 1821 $5,000,000 3,236,000 $1.55 Texas 1845 $18,250,000 336,000,000 $0.05 Oregon Country 1846 negotiated 184,666,240 Mexican Cession 1848 negotiated 338,560,000 Gadsen Purchase 1854 $10,000,000 18,969,600 $0.53 Alaska 1867 $7,200,000 384,000,000 $0.02 Today 2,429,914,880 acres - 4.6 x larger
- 8. 1850 1870 1880 1890 1900 1860
- 14. Culture Human Beings Ideas Physical Human Intellectual Financial Inventions Entrepreneurs Free Markets Innovations The Capitals of Innovation
- 15. Culture Human Beings Ideas The Capitals of Innovation Physical Human Intellectual Financial
- 16. Money put at risk over time Financial Capital
- 18. money put at risk over time money is time savers and borrowers (1+r)n insurance limited liability corporations double entry accounting Financial Capital
- 19. Culture Human Beings Ideas The Capitals of Innovation Physical Human Intellectual Financial Inventions
- 20. Proof of an Idea Thought to reality Invention
- 22. Culture Human Beings Ideas The Capitals of Innovation Physical Human Intellectual Financial Inventions Entrepreneurs
- 23. Risk Takers Value Inventions to Innovations Freedom to Discover Learning Failure Entrepreneurs
- 26. Culture Human Beings Ideas The Capitals of Innovation Physical Human Intellectual Financial Inventions Entrepreneurs Free Markets
- 27. Where buyers and sellers discover value Free Markets
- 28. Solve each other's problems with a price system Free Markets
- 31. All Trades Have One Price And Two Values
- 32. Our di ff erences in values allow us to create value for one another
- 33. Culture Human Beings Ideas Physical Human Intellectual Financial Inventions Entrepreneurs Free Markets Innovations The Capitals of Innovation
- 34. We create value by continuously innovating our capitals
- 35. 3x
- 39. ARM Holdings Wolfson Marvel Skyworks CSR Linear Technologies NXP National Semiconductor Sharp Samsung Toshiba Infineon Broadcom Numonyx Micron Dialog Semiconductor Texas Instruments STMicroelectronics Silicon Storage RF Microdevices Cirrus Logic U.S. U.K. Germany Korea Japan Taiwan China
- 40. Made on Earth
- 41. Only possible because billions of people have learned to cooperate with each other To serve one another
- 42. The most creative- destructive device ever invented
- 46. 99% Reduction in Energy 449 watts to 5 watts
- 47. What does it cost to ship an iPhone from China to the U.S.? 54¢ 450,000 iPhones cost about $242,000 to charter Fuel accounting for more than half the expense. 44,700 gallons
- 48. Quiz What is wealth? What is capital? In a trade there is always one_____ and two______ What is an invention? What is an innovation? How does an economy grow? Anything we value Anything we can use to create value price values An idea made real A profitable invention Continuously innovating our capitals
- 49. 1955
- 50. 2013
- 51. $1.24 How does this product earn Walmart $3.65 in gross pro fi t each year?
- 52. How can lower prices yield higher pro fi ts?