Unit+Two

Federalists vs. Anti-Federalists vs. Republicans
media type="custom" key="7127201"

Thomas Jefferson's Presidency Glog
media type="custom" key="7233127"

Jacksonian America (Key Principles) 1820-1842
Presidency 1826-1836
 * Westward expansion
 * //Relocation of Native Americans//
 * Expansion of electorate (democratization)
 * //Competition between Democrats vs. Whigs (Two-Party System)//
 * Establishing International affairs (Treaty of Wang Hya, China)
 * //Ending Bank of the U.S//
 * Expansion of economic opportunities (Distribution Act)
 * Nullification Crisis

U.S bank controlled money policies, too much power (i.e Farmers getting loans) Make sure policies favor/work for the bank .. biase.

CAPITALISM IN AMERICA

 * Economic system where individuals and companies compete to gain capital (profit)
 * mixed economy; government and private enterprise = economy
 * Capital = money and property which means Capitalism is based on money and property
 * Individuals and private businesses compete
 * Companies are privately owned as opposed to government run.
 * **Mercantilism**: through state to nation in which trade with other nations
 * **Social Market Economy**: Free-Market system based on private company
 * **Free Market**: supply = demand (government isn't invovled)
 * **How much should government be invovled in the economy?**


 * Laissez faire - to let do, government keeps hands off
 * Some of the core principles come from Adam Smith's book, The Wealth of Nations (1776)
 * Adam Smith argued for Free Markets, little government intervention and the invisable hand


 * The Invisable Hand** - theory of the market self regulating, no need of rules
 * 1) Self interest/motivation
 * 2) Competition (hand in hand with individuals self interested)
 * 3) Laws of supply and demand (How much people want/need and how much is sold/demanded)

Elements of the Economy

 * Consumer dollars
 * Workers/Unions
 * Means of production/businesses (i.e banks, government rules and regulations?)
 * In Communism: government controls the means of production, not private businesses

Economy
An economy is a system of production, distrubution, and consumption dealing with goods and services. Groups of people organizes resources, labor, production, goods and curency.

Capitalism + Economic System?
America practices a mix economy which combines elements of capitalism and socialism. Sometimes referred to as Welfare Capitalism. The Capitalism economic system that the United States revovles around businesses and others to compete with one another to obtain profits benefiting themselves. Government also regulates business, trade, minimum wage, and taxes individuals and businesses.


 * Examples**: Medicare, Medicade, Health Insurence, Food Stamps, Social Security, Unempolyment benefits.