Key Terms for ECN 111A FINAL

Key Terms for ECN 111A FINAL - Key Terms for ECN 111A FINAL...

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Key Terms for ECN 111A FINAL Note that terms from the midterm 1 and 2 sheets will be included on the final 1. Eli Whitney’s Cotton Gin a. 1793 b. Labor saving machine that extracted seeds from “upland cotton”, which was very costly to do before the Gin c. Made cotton a more profitable crop to grow; made possible expansion of cotton- growing areas as higher yields “pulled” cotton westward d. Despite labor savings, helped preserve slavery in the South because it helped make cotton so profitable 2. Machine Tool Industry a. (Technically should have been on the MT 2 sheet, I guess) b. Industry that made tools for various other industries c. Led to rapid diffusion of technology and knowledge spill-overs i. E.g., locomotive manufacturing began with textile machinery production ii. E.g., Assembly-line concept used in various industries: Grain, slaughter d. Led to specialization of labor and labor-saving technologies 3. Short-Staple Upland Cotton a. Type of cotton that grew inland b. Seeds were very sticky and very hard to remove by hand, which made growing and harvesting very costly c. Eli Whitney’s cotton gin mechanized the removal process, saving labor and making the crop more profitable 4. Slavery a. Cash crops had to be lucrative enough to justify the use of slaves i. E.g., Illinois only considered making itself a slave state when grain prices increased enough to justify it b. Once slavery as an institution had been entrenched, it was more likely to continue (similarly, once anti-slavery sentiment had spread, it was easier to promote) c. 661,000 slaves brought to the US before importation was banned in 1808 d. ~7% of African population was forcibly transported across Atlantic (to both North and South America) e. Natural increase in slave population was much greater in the US than in Brazil or Cuba
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Key Terms for ECN 111A FINAL - Key Terms for ECN 111A FINAL...

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