The mid-1800s saw a great expansion of American railroads.The major cities east of the Mississippi River were linked by a spiderweb of railroad tracks.Chicago's growth illustrates the impact of these rail links.In 1849 Chicago was a village of a few hundred people with virtually no rail serv...
On May 10, 1869, the first transcontinental railroad was established at Promontory Summit in the Utah territory, where the Union and Central Pacific Railroads met. As gold and silver were discovered in the mountains, Congress named the territory Utah after local Native Americans. The Utah territory...
Slavery caused an ethical and economically challenging issue for the nation of America when the economics behind it created a financial dependency while the need for the abolishment of this practice arose. Learn more about the economics of slavery, the rise of cotton as a commodity, and the en...
Like Australia and Canada, Argentina was an exporter of primary goods, and until the mid-twentieth century, it followed a development path similar to theirs. Compared with other areas in Latin America, Argentina had a small indigenous population; a low population density; and a favorable stock o...
Gerschenkron argued that in the case of Austria- Hungary, not only did the state fail to promote indus- trialization but also . . . economic progress began to be viewed with great suspi- cion and the railroads came to be regarded, not as welcome ...
Compared to the total economy, the modern sector is small yet it experienced a continued growth.60 Chinese railroads increased from almost zero before 1866 to 5,796 miles in 1911. Modern mines, which were non-existent before the 1870s, produced 67% of Chinese coal by 1914.61 Remer indicates...
The Progressive Era and the New Deal has had long lasting effects on the American economy especially on the role of government. The New Deal was enacted by Franklin Roosevelt and the programs created in it are still the largest in the government today....
2018. Railroads of the Raj. Estimating the Impact of Transportation Infrastructure. American Economic Review 108: 899–934. [Google Scholar] [CrossRef] [Green Version] Fearon, James, and David Laitin. 2003. Ethnicity, Insurgency, and Civil War. American Political Science Review 97: 75–90. [...
The use of steamboats and railroads led to continuous opening up of new markets for investment (Gordon 95). Economic Growth in the 21st Century The U.S economy has been shaped by important developments and institutions dating back to the colonial era (Acemoglu et al. 566). Slavery and ...