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The Great Depression was one of the most important events for American Capitalism. It was the first total collapse of the stock market. This event put all the issues of the unregulated capitalist system in on full display. This event led to a less lassie faire system, ending in more government intervention within the economy. (Levy,102) -
The New Deal programs signified a drastic shift in how capitalism operated in the United States. The New Deal was program under the Franklin D. Roosevelt Administration. The government started to have an important role in regulating everything to do with the economy. The government started to implement social safety such as social security, also providing welfare for those in need. This Deal was meant to promote recovery and reforms to prevent future economic crisis in America. (Levy, 145) -
The United States experienced a new period of economic growth following World War II. This period was driven by new tech, consumer demand, advancements, and a growing middle class. This period laid the foundation for modern consumer culture and overall global economic policies. The American model of capitalism was solidified as the most dominant global economic system. (Levy, 211) -
The rise of mass consumerism was fueled by advertisements, credit, and the growth of the middle class. This period was the peak of consumer culture within the United States. The expansion of suburban living and the shift in spending habits were some driving factors during this time. Advertising played a crucial role in consumer behavior, television became powerful advertising tool during this time. The automobile industry grew during this time, due to new highways and commuters. (Levy, 180) -
The Civil Rights Movement brought light to intersections of capitalism within America. African Americans and other marginalized groups fought for equal economic opportunities. This movement was aimed to abolish discrimination and racial segregation within the United Stated. It forced the government and businesses to confront institutional racism in employment and all-around business practices. (Levy, 275) -
The oil crises of the 1970s exposed the global capitalist markets. The disruption in oil supplies led to higher inflation and stagflation. The period was not negative for all economies. Petroleum-rich countries in the Middle East benefited from increased prices and the slowing production in other areas of the world. The United States though suffered from this crisis, with a rise in oil prices and scare energy. (Levy, 332) -
The Reagan admonition's policies tax cuts for the wealthy and the focus on free-market capitalism shaped the United States economy for decades. The focus on deregulation changed economics practices. Reaganomics brought in greater income inequality, however also sparked economics growth in some sectors. (Levy, 415) -
The late 1990s’ dot-com boom was fueled by venture capital and speculative investments in tech startup. It reflected the volatile nature of capitalist markets. The bust at the turn of the century showed the risks of a market driven by speculation and hype rather than solid business models. The dot-com boom peaked Friday, March 10th, 2000. -
The 2008 financial crisis, precipitated by subprime mortgage lending, bank deregulation, and risky financial products, revealed severe flaws in the capitalist system. The government’s response was including bailouts for banks, it reinforced the idea that capitalism in the U.S. can be heavily influenced by state intervention. -
The rise of gig work and platforms like Uber and Airbnb has significantly changed the system of labor and employment in the United States. This shift reflects the ongoing transformation of capitalism, moving towards more flexible, decentralized, and new forms of labor. IT offers more flexibility and independent workers, however there is a lack of benefits like health insurance, paid leave, and job security. (Levy, 752)