NATIONALISM AND ECONOMIC GROWTH

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Chapter 7 NATIONALISM AND ECONOMIC GROWTH

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Presentation transcript:

NATIONALISM AND ECONOMIC GROWTH The American Nation 4/23/2019 NATIONALISM AND ECONOMIC GROWTH Section 2: The Challenges of Growth CHAPTER 7--NATIONALISM AND ECONOMIC GROWTH

Objectives: What did the American System attempt to accomplish? The American Nation 4/23/2019 Objectives: What did the American System attempt to accomplish? How did the Transportation and Market Revolutions affect the U.S. economy? How did the Industrial Revolution change the way goods were made in the United States? CHAPTER 7--NATIONALISM AND ECONOMIC GROWTH

American System Creator of the ideas, Henry Clay: The American Nation 4/23/2019 American System Creator of the ideas, Henry Clay: proposed a national bank to provide sound currency and a source of loans favored a protective tariff to encourage industrial development favored a transportation system to link merchants and producers CHAPTER 7--NATIONALISM AND ECONOMIC GROWTH

Logic Behind the American System

Transportation Revolution The American Nation 4/23/2019 Transportation Revolution reduced the cost of shipping goods increased development in the interior created national markets Market Revolution increased regional specialization increased the size of towns increase in profits of farmers and manufacturers Industrial Revolution shift to machine production encouraged new inventions and new businesses enabled mass production CHAPTER 7--NATIONALISM AND ECONOMIC GROWTH

The Market Revolution https://www.youtube.com/watch?v=RNftCCwAol0 Crash Course 14:10 minutes