Download e-book for iPad: American Economic History: A Dictionary and Chronology by James S. Olson, Abraham O. Mendoza

By James S. Olson, Abraham O. Mendoza

A learn of the U.S. economic system is necessary to knowing U.S. politics, society, and tradition. To make that learn more uncomplicated, this dictionary deals concise essays on greater than 1,200 economics-related issues. Entries hide a huge array of pivotal info on ancient occasions, laws, monetary phrases, hard work unions, innovations, curiosity teams, elections, complaints, fiscal guidelines and philosophies, financial associations, and worldwide methods. Economics-focused biographies and corporate profiles are featured as sidebars, and the paintings additionally contains either a chronology of significant occasions in U.S. monetary background and a selective bibliography.

Encompassing U.S. heritage for the reason that 1776 with an emphasis on contemporary many years, entries variety from subject matters regarding the early monetary formation of the republic to people who discover financial points of knowledge expertise within the twenty first century. The paintings is written to be in actual fact understood by way of upper-level highschool scholars, yet bargains adequate intensity to entice undergraduates. furthermore, most people may be attracted via informative discussions of every thing from fresh strength to what retains rates of interest low.

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Extra info for American Economic History: A Dictionary and Chronology

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Therefore, the AAA ordered the destruction of 6 million little pigs and 200,000 sows and the plowing up of 10 million acres of cotton. The decision was a realistic one, considering the administration’s commitment to production cutbacks, but it generated a storm of protest. The AAA also encountered criticism from the left, particularly from the National Farmers’ Union* and the National Farmers’ Holiday Association. Both accused the AAA of being the tool of the American Farm Bureau Federation*, of ignoring the suffering of millions of small farmers, and of producing no tangible results.

A G R I C U L T U R A L A D J U ST M ENT A D M I N I ST R AT I ON A heavy tax was imposed on cotton at the ginning level. The Kerr–Smith Tobacco Control Act of 1934 and the Warren Potato Control Act of 1935 did the same for those crops to help reduce cheating on the contracts. Many conservatives described the AAA as “socialistic agriculture,” but the real threat came from people who viewed the AAA as unconstitutional. In particular, the AAA had attempted to collect processing taxes from William H.

But the Soil Conservation and Domestic Allotment Act proved insufficient when not enough farmers voluntarily cooperated to limit production. The 1936 cotton crop reached 18 million bales, driving prices down. Wheat, corn, and tobacco farmers faced similar problems. Farm bloc* lobbyists* demanded higher and higher subsidies, fewer production restrictions, and export dumping. In the Agricultural Adjustment Act, signed by President Franklin D. Roosevelt* on February 16, 1938, the farm bloc got much of what it had demanded.

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