Columbian Economy 1492 Research Paper

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The Columbian Encounter of 1492 was when Europeans came over to America and started to colonize. This was a milestone moment because it was the beginning of the global economy. When the Europeans made it to America, they brought along with them various goods. Things such as crops, livestock, diseases, and other goods. Although the diseases created large problems mainly for the Native Americans. Since the Natives weren't able to familiarize themselves with the diseases when they were young, many would die from them. Although the Europeans were able to introduce the goods to the Native Americans for the first time. Furthermore, once the Native Americans saw the utility of the products, they began trading to get them. This interaction gave the …show more content…
This left the southern economy collapsed because they lost their main labor (slaves). With this giant labor shortage, the south started sharecropping. This is a system where they would pay people from outside the country to move over to the south and work for the farmers. Sharecropping helped the global economy because it would allow people with various skills to move to America and help our economy. It would also give the immigrants the opportunity to make money and send some of it back home, helping their family. Also after the US Civil War, the global cotton industry was greatly hurt. Then a while later in the 1920's and the 1930's the Great Depression happened. This had a big impact on global trade by originally increasing tariffs and decreasing overall global trade. Tariffs were increased because the countries wanted to focus more on their own economies and buy less from other countries. But they didn't realize that increasing tariffs would also decrease the amount that they could export to other countries. So eventually tariffs were lowered to stimulate global trade and help the economy. Then in the 1970's, stagflation got really bad where inflation rates had drastically increased, unemployment rates increased, and the economy wasn't growing nearly as much. This was partly because the manufacturing labor jobs were just demanding too high of a wage compared to the other jobs. One solution to this was outsourcing
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