Effects of the Cotton Gin. Invented by Eli Whitney.

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Presentation transcript:

Effects of the Cotton Gin

Invented by Eli Whitney

1: More efficient processing of cotton bolls

2: More cotton sales in England and the North

3: Development of textile industry in Northeast

4: More reliance on slave labor

5: Increased investment in land and slaves

6: Minimum investment in factories in the South

7: Increased reliance for the South on imports from England or the Northeast

Free Enterprise

Enterprise noun a profit-making enterprise: business, company, firm, venture, organization, operation, concern, corporation, establishment, partnership; informal outfit, setup.

Free Enterprise  Voluntary exchange in an open-market  Economic freedom and economic choices  Private ownership and private property  Profit motive

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