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Government promotes Growth

Government promotes Growth . Standard 4.2 E.Q. What did the government do to motivation economic growth? . Rapid Growth . The United States entered a period of rapid economic growth that was due to part to government policies that contributed to change in the factors of production in the US.

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Government promotes Growth

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  1. Government promotes Growth Standard 4.2 E.Q. What did the government do to motivation economic growth?

  2. Rapid Growth • The United States entered a period of rapid economic growth that was due to part to government policies that contributed to change in the factors of production in the US. • Factors that contribute to economic growth are: • Land • Labor • Capital • Technology and entrepreneurship

  3. Government involvement • Fostered by both government actions and changes in each of the factors of production. • In addition to protective tariffs to protect jobs and the industry from foreign competitors. • Government provided the business environment in which entrepreneurs could be successful. • National bank provided needed capital and at the same time regulated lending.

  4. Land • Expansion to the West promoted by government actions through purchase, treaties, and war opened up a vast region rich in natural resources: • Coal • Iron Ore. • Government was involved in removing or controlling the Native Americans who threaten to these resources.

  5. Promoting Land • Promoting Land • Subsides: grants given by the government; land given to RR’s stimulated westward expansion. • Exodusters: former slaves moving to the Great Plains. • Congress passed laws which stimulated westward expansion by offering subsidies in the form of land grant to railroads and by giving free land to settlers.

  6. Promoting Land • The reorganization of banking fostered a more secure financial climate. • During war and post – war time, the U.S. government provided protection for settlers in the West against the Native Americans.

  7. Technology • Dartmouth v. Woodward: • Supported business growth by court decisions that upheld the sanctity of contracts and passed patents laws that protected the rights of the inventor. • Gibbons v. Ogden: • Regulated interstate commerce and protected infant industries with a protective tariff.

  8. Technology • As a result of Civil War technology the application of the steamboat, oil drilling and the railroad moved forward. • New consumer products: • Rising Standards of living • New opportunities for women in the workplace & new conveniences in the home, allowing for more free time. • Cities were also growing upward and outwards. • Harnessed Electricity

  9. Technology • Patent laws protected the rights of inventor • Electricity, Steel, elevators, suspension bridges, electric trolleys, subways, typewriters, telephone, steam engine, steamboat, oil drilling & RR. • And the creation of the camera.

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