Economics USA

Exchange Rates: What in the World is a Dollar Worth? (2012)

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By 1925 Great Britain went off the gold standard, managing to increase exports and lessen imports. The U.S. market was flooded with British goods and U.S. industry suffered. In July, 1944 world economic leaders met in Bretton Woods, NH for a "new world economic order" and soon the dollar became the new standard.

Grade Level: 
High
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00:29
Exchange Rates: What in the World is a Dollar Worth?

International Trade: For Whose Benefit? (2012)

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The U.S. auto industry lost a lot of mileage in 1973 with the rise of the more efficient Japanese imports. In the 1970s, the "trigger/price mechanism" was developed in order to differentiate between fair and unfair trade practices.

Grade Level: 
High
Length: 
00:29
International Trade: For Whose Benefit?

Stabilization Policy: Are We Still In Control? (2012)

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Between 1982 and 1985, the Fed tightened the money supply to combat inflation, despite rising unemployment. Also in the 1980s, U.S. citizens began to feel the debilitating effects foreign trade would have on job loss. Paul Volker's monetary policy in the mid-1980s was designed to quell inflation once and for all.

Grade Level: 
High
Length: 
00:29
Stabilization Policy: Are We Still In Control?

Monetary Policy: How Well Does it Work? (2012)

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Federal Reserve Chairman Paul Volker pushed us through two deep recessions using monetary policy and increased interest rates to combat inflation in the 1980s. His successor Alan Greenspan used a different tactic in the early 1990s and 2000s: flood the market with liquidity to prevent freezing.

Grade Level: 
High
Length: 
00:29
Monetary Policy: How Well Does it Work?

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.

Grade Level: 
High
Length: 
00:28
Federal Deficits: Can We Live With Them?

Productivity: Can We Get More For Less? (2012)

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In the 1970s, businesses struggled with rising energy costs, newly imposed environmental regulations, and inflation that contributed to the slowing of productivity. By 1980, a new group of economists called "supply-siders" were calling for government deregulation to spur productivity, amidst great objections from Democrats and some economic experts.

Grade Level: 
High
Length: 
00:29
Productivity: Can We Get More For Less?

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.

Grade Level: 
High
Length: 
00:29
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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High
Professional
Length: 
00:28
The Great Depression and the Keynesian Revolution

GNP/GDP (2012)

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During the Great Depression, Simon Kuznets led an investigative study resulting in the first publication of the nation’s national income. It was called the Gross National Product (GNP). Using GNP to assess the overall production-to-consumption ratio of the U.S., President Roosevelt entered World War II without jeopardizing the basic needs of U.S. citizens.

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High
Professional
Length: 
00:28
GNP/GDP

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.

Grade Level: 
High
Professional
Length: 
00:28
Reducing Poverty

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