Economic History of the United States - 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
Of
fi
ce: 339
Of
fi
ce Hours:
Tuesday 12:00 - 2:00
or by appointment

9. Syllabus
Economics & History

10. Read and Write

11. 10 Quizzes
2 Exams
2 Papers/Presentations

16. This universe is
fi
nite, its resources,
fi
nite…
if life is left
unchecked, life will
cease to exist.
It needs correction.

17. Economics is not about atoms
Economics is about knowledge

19. The di
ff
erence
between our
age and the
Stone Age is
entirely due to
the growth in
knowledge.
George Gilder

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

23. Knowledge transforms
atoms into resources

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

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

31. Timeline

32. Timeline
2024
1607
417 Years

33. Angus Maddison

35. 2016
1
AD
$2
$100
$30 World
15x
Northern Europe
North America
50x
1820