mid 1800s

unions created to improve better working conditions, wages, hours worked, and benefits.

The power of a group is better than the power of an individual.

A way for manage and workers to communicate. negociating.

basketball players and their contracts only with a group

Common type of strike is when the union workers refuse to work unless their demands are met.

Strikes are more effective when the economy is good.

Aruguments

For Unions

Increase wages for workers and benefits

Protect Jobs

Against unions

Some argue that unions are too large and too powerful

Unions decrease the economic productivity

• increased economic growth
• government took over companies to manufacture for the war
• created a command economy
• US moved from a debtor nation to a creditor
• it was owed money from other nations instead of oweing

1920s Economic Growth

Isolutionism

US focused on themselves not caring about what happened to other nations

RESULTS

 New technology

Factories could run night and day

electrical appliances

Construction boom

Henry Ford developed

assembly line = specialization

Workers specialize on one task

time of economic crisis

came from the agriculture industry

no demand farmers produced to much

Over production became one of the main causes for the Great Depression

over production

decline in foreign trade

over speculation in stock market

laissez faire policies

Overspeculation in the Stock 

Market

The value of the stock market was based on earning power

The problem was that the market was based on potential earnings and was not based on real earnings

Also many common people were able to buy stock on credit "on market"

Laissez Faire 

policies

thought that the government should not be involved in economic decisions 

President Hoover

the bottom fell aout of the stockmarket

There was a "run on the banks"

The banks did not have enough money to payout

Failure of the banks hit the economy the hardest

25 percent of Americans were unemployed

congress passed the largest tarrif taxing imports

foreign also created tarrifs 

trade dropped

too little too late

federal government paid farmer for surplus goods 

too little too late

New Deal

FDR

restoration of the economy programs were created to decrease unemployment and increase the economy

1. Reformthe banking industry and stock market
2. Relief for all workers and industries
3. Recovery from depression

Federal agencies were allowed to inspect banks and their policies

Federal Deposit Insurance Corporation

FDIC

insured mony people had in banks

gave people confidence to use banks

Provided work for men 18-25

successful

to generate electrical power and stop flooding on the Tenneessee River

still going on today

raise agriculture price to save farmers

paid farmers to destroy crops

found unconstitutional

People were starving and they were destroying food

regulations on industries

ensure fair competition and fraud

found unconstitutional

Started because the first programs were founf unconstitutional

it was hopeful the would be more successful

Wagner Act

protection of labor unions

3 main insurance programs

unemployment insurance

retirement funds

welfare

expansion of government

Social Security

FDIC

Securities and Exchange

agencies that still impact our economy

people made sacrifices

inspired

hard work

patriotism

unification

After WWII there was a strong middle and upper class

separate but equal society

beginning of the Cold War

Television

Would end communism in USSR

Free trade and open markets were essential to US

Arms race US spent billions on national defense

Space race

spending created inflation and fluctuation in business cycles

created a recession

large government deficits

increase in consumer spending 

us became a dependent nation

supply side economics

increasing domestic government 

decreasing taxes

it was a contradiction

computers

internet

spending up

declining economy