How Capitalism developed in America

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Presentation transcript:

How Capitalism developed in America

Free Trade This is the meaning of “capitalism”, different from “mercantilism “ and “communism” Based on ideas in “Wealth of Nations” by Adam Smith

Protective Tariffs Favored by people in the North Helped Businesses to grow

Transportation Systems Erie Canal – connected New York with the Great Lakes Rail Roads – Transcontinental connected east and west coast, San Francisco becomes Banking Center Cumberland Road – Appalachia with the rest of America Steam Boats – Mississippi River

National Bank Favored by Federalists Dismantled by Jackson and the Democrats

Free Trade