Becoming a World Power The Pressure To Expand. What is Economics? The buying and selling of stuff Definition: the study of the production, distribution.

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Presentation transcript:

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 oNeed for natural resources oNew economic markets  Nationalist Factors oCompetition for empires created bitter rivalries  Military Factors oEurope & US dominated Africa, Asia & Latin America oLarge 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 oControlled Costa Rica, Guatemala & Honduras oProvided “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 oNoble pursuit to bring Christianity & civilization to the inferior societies

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