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Wealth Equality in America

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Victoria Marie

on 21 November 2015

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Transcript of Wealth Equality in America

Wealth Equality in America
Colonial America
Spanish was powerful
England was poor in 1600
Poor people of London and Bristol Multiplied in the streets
England found new world wanted to take poor there
Risks that the colony may fail
Merchants who dissented from the church willing to invest in new world
New France and new Spain developed by kings , the English colonies were developed by the people
Virginia company of England; first joint stock company
Virginia company of england; first joint stock company
The Gilded age
In the late 19Th century
from 1870s to about 1900
After the war, beginning with the railroads, small businesses grew larger and larger
From the ashes of the American Civil War sprung an economic powerhouse
In 1900 most americans worked for an employer
American economy doubled in size
The United States had become the largest industrial nation in the world.
While a lot of people were wealthy many were still struggling to put food on the table
Greedy legislators and "forgettable" Presidents dominated the political scene.

The roaring 20's
More people lived in cities than farms
The wealth equality doubled between 1920 and 1929
Economic growth swept Americans into a 'Consumer Society
they all did everything alike
Many Americans were uncomfortable with this new, urban, sometimes racy “mass culture”
for most people the 1920s brought more conflict
the 1920s were roaring indeed

the great depression
1929-39 was the longest downturn in the Western industrialized world
began soon after market crash in October 1929
sent wall street into panic / wiped out many investors
rising levels of unemployment
companies failing
reached its nadir by 1933
13-15 million workers unemployed
half country's bank failed
Franklin D. Roosevelt helped lessen the worst effects
economy would not fully turn around until after 1939
1960's war on poverty
Most ambitious and controversial part of the Great Society was to end poverty
War began with a 1 Billion in 1964 and spend another 2 billion in the next two years
Job corps was to help the disadvantaged youth
Neighborhood youth groups developed to give poor urban youths work
Legal services for the poor
Food stamp act of 1964
Today's wealth in America

rich has a huge amount of money
1% of America owns 50% of Americas stocks
1% of America has 40% of Americas wealth
middle class doesn't differ from the lower class
the lower class receives pocket change from the top 1%
Sources ......




The wealth video we watched in class
Victoria Wallace
Full transcript