MGMT 1030 Lecture Notes - Government Spending, Justice Of The Peace, Luddite
27 Feb 2014
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Document Summary
The first industrial revolution in america (1790s to 1850s: agricultural improvements and the national economy. Eli whitney and invention of cotton gin (1793); expanded production 50 folds. Spurred westward migration and growth of slavery. Cotton exports accounted for more than 50% of all american exports from 1835 to 1860. Government sold land at low prices (when british became infertile, they made a westerly push, taking the natives" homes away from them) In the north, great wheat and other cash crops. As agriculture is pushed out, its replaced with craft industry. In britain, luddites do not believe in machinery; believe that machines take jobs away; resistance to technological change; usa had opposite effect. In usa, despite ways of immigrations, not enough people to work the land are present; agricultural frontier expands: transportation and improvements: need to be able to get great access to communication if economy expands. Erie canal: cheaper and faster means of transportation.
