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Economy Then And Now Essay

1075 words - 5 pages

The United States has had many different laws, responsibilities, and changes over the last 200 years. The economy has also evolved dramatically during the 1800s under the presidency of Thomas Jefferson. The economy of Thomas Jefferson’s time is a huge part of the today’s economy. The laws, ideas, and technology of Jefferson’s time were the basis of today’s economy. There is a great deal that can be learned just by looking at the presidents in office at the time and what they did.
Thomas Jefferson was the president from 1801 to 1809. He was born April 13, 1743, in Goochland County, Virginia. Jefferson is known most for foreshadowing many of the ideas of the Declaration of Independence. ...view middle of the document...

Examples would be industrialization, speed at which the economy moved, inconsistency of the economy, and global trade. Industrialization was a huge part of the economy. There were many more people working in factories and in the city than on farms. As a result farmers who usually only supported their families had to start growing larger amounts of food and in return the farmers would also get paid more. The economy of the time grew rapidly. People no longer worked just to support their families, but this was a time in which people started working for greed, wealth, and in a way, power. Inconsistency was another huge factor in the 1800s. There was an abundance of people with a great deal of money, and no system to govern them on how they were to spend their money. During that time there was a number of highs and lows. There would even be at least one crash and depression per decade. Trade was also a huge part of the economy. Countries were very reliant on one another. Without trade there wouldn’t be materials to make some items from which the United States would make a profit. Trade businesses were able to get cheaper raw materials and labor, which made prices go down and wealth go up.
Barack Obama was born on August 4, 1961 in Hawaii. He married first lady Michelle Obama in 1992. One of Obama’s great achievements was the passing of a health care reform. After five past presidents tried to create universal health insurance and failed, Obama finally did it insuring 32 million uninsured Americans. This has made the United States economy crash. Some examples are first Obamacare sets employee mandate taxes; these are taxes that the employees have to pay. Additionally there are many indirect costs on small and medium sized companies. This means that small and medium sized companies will receive more fees therefore the companies will have to take more money out of their employee’s paychecks. Finally there will be compliance regulations. Compliance regulations are regulations where employees and or companies have to follow the ACA’s rules. Another great achievement is Obama passed the stimulus. Obama signed $787...

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