© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.

Slides:



Advertisements
Similar presentations
Money Growth and Inflation
Advertisements

Aggregate Demand and Aggregate Supply
Describe the key policy measures that make globalization sustainable.
Appendix to Chapter 4: The Housing Boom and Bust1997– – 2006 –Housing prices almost doubled –Bubble Mid-2006 –Falling 1.
Chapter 9 Economic Growth and Rising Living Standards
© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
Populism: Roots of Reform The Rise and Fall of the Voice of the Farmer.
Figure 8.1 Opportunities and Outcomes of International Strategy
Monopoly CHAPTER 11 © 2016 CENGAGE LEARNING. ALL RIGHTS RESERVED. MAY NOT BE COPIED, SCANNED, OR DUPLICATED, IN WHOLE OR IN PART, EXCEPT FOR USE AS PERMITTED.
Scarcity and Opportunity Costs CHAPTER 2 © 2016 CENGAGE LEARNING. ALL RIGHTS RESERVED. MAY NOT BE COPIED, SCANNED, OR DUPLICATED, IN WHOLE OR IN PART,
Monopolistic Competition and Oligopoly CHAPTER 12 © 2016 CENGAGE LEARNING. ALL RIGHTS RESERVED. MAY NOT BE COPIED, SCANNED, OR DUPLICATED, IN WHOLE OR.
Trade Policies for the Developing Nations © 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part,
Profit Maximization CHAPTER 9 © 2016 CENGAGE LEARNING. ALL RIGHTS RESERVED. MAY NOT BE COPIED, SCANNED, OR DUPLICATED, IN WHOLE OR IN PART, EXCEPT FOR.
PowerPoint Slides prepared by: Andreea CHIRITESCU Eastern Illinois University Ten Principles of Economics 1 © 2011 Cengage Learning. All Rights Reserved.
PowerPoint Slides prepared by: Andreea CHIRITESCU Eastern Illinois University Production and Growth 1 © 2011 Cengage Learning. All Rights Reserved. May.
PowerPoint Slides prepared by: Andreea CHIRITESCU Eastern Illinois University Open-Economy Macroeconomics: Basic Concepts Principles: Chapter 31 1 © 2011.
World Trade Equilibrium CHAPTER 20 © 2016 CENGAGE LEARNING. ALL RIGHTS RESERVED. MAY NOT BE COPIED, SCANNED, OR DUPLICATED, IN WHOLE OR IN PART, EXCEPT.
PowerPoint Slides prepared by: Andreea CHIRITESCU Eastern Illinois University Application: International Trade 1 © 2011 Cengage Learning. All Rights Reserved.
Ch.13 Changes on the Western Frontier. Cowboys Romanticized: Adventurous, exciting, fun, etc… Reality: Hard work, long hours, little pay, lonely. Main.
Resource Markets CHAPTER 15 © 2016 CENGAGE LEARNING. ALL RIGHTS RESERVED. MAY NOT BE COPIED, SCANNED, OR DUPLICATED, IN WHOLE OR IN PART, EXCEPT FOR USE.
Elasticity: Demand and Supply CHAPTER 6 © 2016 CENGAGE LEARNING. ALL RIGHTS RESERVED. MAY NOT BE COPIED, SCANNED, OR DUPLICATED, IN WHOLE OR IN PART, EXCEPT.
© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
Exchange-Rate Determination © 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use.
© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
The Wealth of Nations : Ownership and Economic Freedom CHAPTER 1 © 2016 CENGAGE LEARNING. ALL RIGHTS RESERVED. MAY NOT BE COPIED, SCANNED, OR DUPLICATED,
© 2017 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
© 2017 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
© 2017 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
© 2017 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
© 2017 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
© 2017 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
CHAPTER © 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a.
© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
INTERNATIONAL ECONOMICS, 15E Robert Carbaugh © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part,
Farming Problems In the late 19th Century.
© 2014 Cengage Learning. All Rights Reserved
Monopoly © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a.
Saving, Investment, and the Financial System
Application: International Trade
© 2013 Cengage Learning. All Rights Reserved
Production and Growth © 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted.
CHAPTER 10 The Economics of Virtual Currencies
Production Possibilities Schedules
Production Possibilities Schedules
Economic Shocks to Nations with Fixed Exchange Rates
Open-Economy Macroeconomics: Basic Concepts
FIGURE 12-1 Output and Welfare Effects of International
Putting it All Together
Monopoly © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a.
Monopoly © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a.
CHAPTER 2 Taking an Economic Pulse: Measuring National Output and Income © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned,
CHAPTER 1 Introduction to International Macroeconomics
CHAPTER 12 Price and Output Fluctuations
Monetary Aggregates: Measuring Money
CHAPTER 7 Financial Intermediation, Markets and Intermediaries
The South and West Transformed
Presentation transcript:

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Agriculture’s Western Advance

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 1)What were the three principal goals of federal land policy? 2)What were the consensus views of federal land policy and how have those views changed since the 1970s? 3)What were the major capital improvements that increased farm productivity? 4)Who and what did farmers blame for their hard times and what were the true reasons? 5)What were the early institutions that developed from agriculture policy?

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Total land under cultivation more than doubled between 1870 and 1900

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

Homestead Act of 1862 offered 160 acres was largely ineffective Most good land was already taken 160 acres was too small to make a living Between 1870 and 1900 less than 1 acre in 5 was homesteaded See also Chapter 8 for more details

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Later homestead acts increased the acreage Between 1900 and 1920, 9 of 10 acres were homesteaded

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Various other acts made land available to encourage timber growth, increase irrigation, clear forests, and mine resources

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Principal goals: 1)Generate revenue for federal government 2)Create accessibility 3)Increase economic growth

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

Generally speaking, historians used to believe that federal land policy was inefficient Land was not made available nor were laws enforced in an even-handed manner Lots of fraudulent, manipulative, and illegal behavior took place Many of the land acts did not achieve their objectives

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. What do the facts suggest? Average rates of return on land-related investments equaled or exceeded returns on other available investments Outside the South, real incomes in new areas grew about the same as manufacturing

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. A growing number of historians are now tempering those negative views Even though the means of distribution were inefficient, the end results of invention, innovation, and lower prices are very beneficial See Gates (1976) “An Overview of American Land Policy”

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. As should be expected, settled areas began to specialize in certain crops Noteworthy trends: South remained leader in tobacco By 1900 Texas was leader in cotton Refrigerated railcar in 1880s created a national market for many commodities

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Major changes: 1)New wheat varieties allowed production to move farther north and west 2)New methods to fight insects and diseases

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Important data: Very little increase in land productivity; i.e. bushels per acre Huge increases in labor productivity; i.e. bushels per worker (between 1860 and 1920, the number of people fed per farmer nearly doubled)

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

Effects from labor productivity increases: 1)Allowed farmers to manage bigger farms; output per farm increased 2)Required fewer animals for “working” so more acreage could be devoted to cash crops 3)Created surplus farm labor; workers had to move to other industries (and other locations)

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Two distinct periods: 1) ; hardship and political unrest 2) ; sustained improvement

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Farmer’s terms of trade, price of commodities sold divided by price of items purchased, declined

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

Foreign and domestic supply and demand forces were mostly to blame Farmers aimed their frustration at Bankers Grain elevator operators Industrialists Railroads

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

4 movements: 1)The Grangers First to form cooperatives Montgomery Ward and Co. was created as first large mail-order company to sell to Grangers 2)The Greenback Movement First attempt to affect national politics Later became important part of Populists’ appeal

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 3)The Alliances Advocated monetary reforms and favored government regulation Also favored government ownership of transportation and communication facilities 4)The Populists Anti monopoly and advocated collectivism (government ownership of banks, railroads, and communication)

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. See Rothstein (1988) “Farmer Movements and Organizations: Numbers, Gains, Losses”

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. The Department of Agriculture Agricultural Division of the Patent Office in 1839 Dept. of Agriculture created in 1862 but its head was not a Cabinet member until 1889

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. The Department of Agriculture Until 1920, 3 principal functions 1)Research and experimentation 2)Distribution of information 3)Regulation of the quality of products

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Agricultural Education Morrill Act of 1862 provided for agricultural training at universities; established “land-grant” colleges

© 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Since western land was so plentiful, little incentive for conservation existed Between 1891 and 1919, several steps were made to increase conservation efforts Most importantly, public concern was growing Even though effects were small, the foundation was laid for later conservation