Part 3 Flashcards
What is private investment?
Any individual who wants to build any kind of business.
What is PP and PI
How the government interacts with business owners
Big business is in bed with what?
Politics
What is an entrepreneur?
An organizer of big business.
How did Congress work with private investment?
- Ensure a steady supply of cheap labor by having liberal immigration laws (profit margin will be very high).
- Ensure that tariffs remain high
- Sell land cheaply, which includes mineral rights
What did high tariffs do?
Encouraged industry
Maximized profit
Kept out foreign goods
Prices of everything increased
What are mineral rights?
They go down as a cone, so you get less land the deeper you go
Why were the Indians moved again?
Oil was found in Oklahoma
What did they want to do with railroads?
Connect California and Virginia
How did immigrants decide where they were going to settle?
They were the ones that made the tracks, and wherever they stopped, that was where they settled.
Why were immigrants wanted?
They found value in land, so they would keep their business until they had the land they wanted. After this, they would sell the land to the Americans.
Why is public policy?
How the government makes the laws for the people of the US
