U.S. economy

  1. Who was Adam Smith and why was he — a Scottish economist — important in the industrializing of the U.S.? Get down to specifics.
  2. What was the Lowell experiment? How did it significantly change the U.S. economy?
  3. Why is Chicago discussed in this video? What was its role in the industrialization of the U.S. according to the video?

U.S. industrialization required the weaving together of many historical strands. Entrepreneurs were needed along with laws that rewarded them for risk-taking. Cheap labor was needed as well and new technology that allowed a nation short on skilled labor to economically flourish. What other elements were necessary?

This video — The Rise of Capitalism — is one episode in the Biography of America series. A link to the series is on the left, in the course toolbar menu.

What To Do

Watch the video — all 30 minutes of it. Watch it carefully. It can be accessed here:

https://www.learner.org/series/biographyofamerica/p