Becoming a World Power The Pressure To Expand. What is Economics? The buying and selling of stuff...
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Becoming a World Power The Pressure To Expand
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Transcript of Becoming a World Power The Pressure To Expand. What is Economics? The buying and selling of stuff...
Becoming a World Power
The Pressure To Expand
What is Economics?
The buying and selling of stuff
Definition: the study of the production, distribution and consumption of goods and services
Supply & Demand
What is Economics?
The buying and selling of stuff
Goods:
Services:
Production:
Distribution:
Consumption:
Definition: the study of the production, distribution and consumption of goods and services
Growth of Imperialism
Economic Factors
o Need for natural resources
o New economic markets
Nationalist Factors
o Competition for empires created bitter rivalries
Military Factors
o Europe & US dominated Africa, Asia & Latin America
o Large navies - bases needed around the world to protect interests
White Man’s Burden
Economic Growth
Americans could not consume all the goods U.S. industries produced
Kodak, Standard Oil, Singer & Sherwin Williams expanded overseas
Banana Republics - United Fruit Company
o Controlled Costa Rica, Guatemala & Honduras
o Provided “financial services” in return for long-term leases on land & railroad lines
American Security
Captain Alfred T. Mahan convinced Congress to modernize the navy
Large navy was necessary to protect overseas US interests
Naval Advisory Board created in 1881
By 1900 – U.S. had one of the most powerful navies in the world
American Spirit
Manifest Destiny
Closing of the frontier in the West would sap American energy
The quest for empire became necessary
Social Darwinism
o Noble pursuit to bring Christianity & civilization to the inferior societies
