12.E3 - Impact of American Capitalism on Global Economy

Federal Deficits: Can We Live With Them? (2012)

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During WWII, our national debt had more than quadrupled, so government encouraged citizens to buy war bonds and federal stamps to pay some of it off. In 1960 President Eisenhower achieved a surplus and reduced the debt, a feat not repeated until the 1990s.

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Federal Deficits: Can We Live With Them?

Stagflation: Why Couldn't We Beat It? (2012)

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1970s America saw a new kind of inflation, based on supply and not demand: "stagflation," caused by Arab oil embargoes and worldwide crop failures. In 1973 President Ford and Fed Chairman Arthur Burns tried to control inflation by choking the money supply. They failed. In the 1990s the U.S.

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Stagflation: Why Couldn't We Beat It?

The Great Depression and the Keynesian Revolution (2012)

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In 1932, President Herbert Hoover spoke enthusiastically about financial recovery while John Maynard Keynes expressed doubts. In 1936, Keynes published The General Theory of Employment, Interest, and Money, developing a theory that later became the basis for public policy in Washington.

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The Great Depression and the Keynesian Revolution

Reducing Poverty (2012)

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During the Great Depression, President Franklin Delano Roosevelt put forth a Social Security program, using money from employer/employee contributions. In 1996, President Bill Clinton signed the Welfare Reform Act, requiring welfare recipients to move into the work force.

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Reducing Poverty

Resources and Scarcity (2012)

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Faced with dwindling resources, Congress fiercely debated whether to preserve 100 million acres of Alaskan land as a national park or open the land for mineral exploration. The need to provide both guns and butter during World War II led to an unprecedented period of economic growth. In the 1970s, the U.S. Supreme Court ordered U.S.

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Resources and Scarcity

Labor and Management: How do they Come to Terms? (2012)

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The International Ladies Garment Workers' Union (ILGWU) strike in the early 1900s was inspired by poor working conditions and low wages.

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Labor and Management: How do they Come to Terms?

Public Goods and Responsibility: How Far Should We Go? (2012)

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In 1937 the Tennessee Valley Authority (TVA), a government-owned utility company, was created to electrify rural communities and control flooding. 1965 marked the first U.S. attempt at national health insurance in the passage of Medicare and Medicaid. In response to 9/11, the U.S.

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Public Goods and Responsibility: How Far Should We Go?

Pollution and the Environment: How much is a clean environment worth? (2012)

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In 1977, the federal court system told the Reserve Mining Company to build a $400 million disposal site for carcinogenic materials. After 1970, Los Angeles was looking for a broad-ranging smog-reduction policy to reflect recently amended Clean Air Act standards.

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Pollution and the Environment: How much is a clean environment worth?

A Growing Global Power (2008)

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Through imperial ambitions and the mobilization for World War I, businesses and the government established a new relationship to bolster American business interests and build the United States military.

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A Growing Global Power

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