Unformatted text preview: of the latest inventions. There is no clinging to old ways. The moment an American hears the word "invention," he pricks up his ears. Boom/Bust Cycles: 1790-1860 The blue line shows, for comparison, the price of a year's tuition at Harvard College. In 1790 it was $24, but by 1860 had risen to $104. Creating a Business-Friendly Climate
Supreme Court Rulings: * Fletcher v. Peck (1810) * Dartmouth v. Woodward (1819) * McCulloch v. Maryland (1819) * Gibbons v. Ogden (1824) * Charles Rivers Bridge v. Warren Bridge (1835)
General Incorporation Law passed in New York, 1848. Laissez faire BUT, govt. did much to assist capitalism! Distribution of Wealth
v During the American Revolution, 45% of all wealth in t...
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