Economics Conditions After The Independence Flashcards
Who composed the ministerial cabinet design development in USA ?
Thomas Jefferson / estate
Henry Knoz / war
Alexander Hamilton /treasury
What’s re the main problems of the massification on elementary education?
Public debt Non-backup money Inflation Soldier reintegration Essentially military industry Poor transportation system Land speculation Physical destruction Tax apathy Colonialism Protectionism Industrial fear
What did the ministerial cabinet?
Determination of the national finance state
Action plan
- report on public debt (jan 14, 1790)
- report on national bank (dec 13, 1790)
- report on manufactures (dec 5, 1791)
What the first national bank had implemented? An what they decided to create?
Money paper issuing
Public find deposit
Transactions made easier
They decided to create:
Public credit system
Efficient tax system
Customs system
Implement economic and social success
What is infant industry ?
They don’t care about international trade, because they produce inside and consume in the country.
What means inward and outward?
Inward is the development towards inside and out wards is the opposite.
What were the objectives of the infant industry?
A) Reduce dependency on European countries with regard to the basic subsistence related manufactures.
B) Encourage productive system to turn United States into a thriving and successful country.
What are the recommendations?
Protectionist tariffs
Forbiddance to rival products import [equivalent tariffs]
Veto to strategic and necessary raw material export
Monetary subsides,prizes and rewards
Zero tariff for strategic raw materials
Tariffs refund for raw material employed and national manufactures.
Encourage of new inventions and discoveries [ patent system ]
Product equality checking norms and systems
Money and merchandise efficient shipping system
Why is the central bank independent of the state?
Because they could be use with politics interests.
