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American Economic History Exam II Study Guide

by: Trevor Locke

American Economic History Exam II Study Guide Econ 1010

Marketplace > University of Pittsburgh > Economcs > Econ 1010 > American Economic History Exam II Study Guide
Trevor Locke
GPA 3.4
American Economic History
Dr. Werner Troesken

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About this Document

Extensive study guide for Exam II in American Economic History.
American Economic History
Dr. Werner Troesken
Study Guide
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This 4 page Study Guide was uploaded by Trevor Locke on Tuesday November 24, 2015. The Study Guide belongs to Econ 1010 at University of Pittsburgh taught by Dr. Werner Troesken in Fall 2015. Since its upload, it has received 14 views. For similar materials see American Economic History in Economcs at University of Pittsburgh.


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Date Created: 11/24/15
Exam Study Guide Question 1 Income and Life Expectancy Sachs Article Malaria Link between Malaria and income A disease that affects growth has to have lingering lifelong effects Malaria may do this evidence for cognitive deficits when infected as a child Could make workers less productive Hoyt Bleakly does research in Americas finds that people who grow up in a place with Malaria have less cognitive abilities lower income less education Productivity lowers over time Malaria is a symptom not the cause Tells us about the structure of state Island of Mauritius big producer of sugar hit with outbreak of Malaria in 1860s growth stagnated 1950s eradicated by DDT growth and population boom The Antebellum Puzzle Early stage of industrial age heights fall health is declining As people move to cities disease environment gets worse BUT declines also happen in rural environments urban pollution increased trade shitty work environment etc The most likely cause of this is that food prices rose resources switched out of agriculture into industry so you choose cheaper less nutritious foods Water The BEST way to break this cycle is access to clean water 60 of improvements seen driven by water Chicago in 1893 The city gets all its water from Lake Michigan Had 3 or 4 water intake cribs a mile offshore But the city also dumped its sewage the river and the lake In 1893 typhoid fever is killing a lot of people in Chicago which is caused by unsafe water So they reverse the flow of the river so that it flows toward the Mississippi instead of into lake Michigan and move intake cribs further into Lake Michigan where it was less sewageaffected Typhoid fever virtually vanishes Many cities follow this pattern like Pittsburgh All diseases radically change How can income still matter Water systems and large public works projects are very expensive Public health innovations The demand for a public water system Question 2 Is economic growth a direct result of tariffs Central to Economic Development hurts or helps rate goes up upper pressure on tariff revenue indirectly imports go down Most of government revenue in the 1800s came from tariffs Before 1900 the average tariff rate was between 2030 Couldn t tax land most landowners would be opposed so many of them Foster infant industries in 1800s Hamilton Article Tariffs are selflimiting too high then consumer can t buy it and not collecting any money Reduces import Raises relative price of good Sustain domestic monopolies which decreases innovation and flow of ideas Embargo of 1808 an example of an extremely high tariff Jefferson stopped foreign trade because of conflict between France and England GDP only dropped by 8 because wages and prices increased but not at the same rate Workers became more productive because they were forced to since they had to produce themselves Question 3 Natural Resources Do countries with rich natural resource endowments grow faster or slower than those without To what extent might one consider access to water transportation networks as a natural resource that promotes growth A country that has many natural resources does grow faster than those that don t have many natural resources This only holds true if the nation can easily access these resources and if the state has a stable government with welldefined property rights Resource Curse Coca leaf in Colombia Used to be grown in Bolivia and Peru Refined in Colombia American industries interdicts airspace between the countries to stop production of coca leaf 80 Colombia just begins to grow its on coca but violence increases education falls things get much worse off Due to their property rights not being welldefined Bad institutions Devalues the resource because of how much is being spent to obtain it Just fighting over it Can t spend money on other things Glasier article about New York New York easily able to access resources to waterways and railroad had plenty of natural resources gt economic development for the country stimulated economy increased domestic and foreign trade New York also played a part in America s industrialization with access to railroads and waterways New York reduced transportation costs which are also key to a nation s development Low transportation costs railroads and waterways Foreign trade adjacent countries Canada Transportation costs declined 95 over the twentieth century The graph on page 10 illustrates New York s massive growth in population from the late 1800s to the mid 1900s rising from approximately 15 million to 8 million people during that span Question 4 How much did wages for unskilled workers increase between 1800 and 1900 How much did they increase between 1800 and 2000 What role did unions and minimum wage laws play in promoting this growth What role did market processes and technological play Be sure to compare and contrast the effects of markets in the pre1970 period to the post 1970 period Wages quadruple4x between 1800 and 1900 clear example of sustained wage growth workers became more productive the increase in productivity was caused by them being given more capital property rights were better defined capital accumulation occurred and the process was repeated unions and minimum wages didn t exist Artisans artisans took a massive hit during the industrial revolution they basically lost their entire livelihood due to the mass production of cloth similar businessmen to artisans take hit by the industrial revolution because goods started to be mass produced problem with technological change is that somebody will always lose their job wages increase by 32x from 18002000 what drove the increase in wages between 1800 and 2000 was the interaction between productivity growth and free markets this is also the opposite of the pre1800 world where in order for wages to increase a catastrophe would have to strike causing famine or disease to reduce the population that increased the demand for healthy workers 19702014about a 50 year period of stagnation 20 average wage back to 20hr technology increased but only the skilled workers were better off unskilled workers took a hit on their wages due to this skilled workers were more productive


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