when did american economic institutions began to be shaped in a capitalist framework?
A.during the colonial period
B.during the federalist era
C.during the jacksonian era
D.during the civil war
E.during the late 1890s
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Right.
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during the late 1800's
It is A just checked :D
To determine when American economic institutions began to be shaped in a capitalist framework, we need to understand the key characteristics of capitalism and examine the historical periods mentioned.
Capitalism is an economic system characterized by private ownership of the means of production, the pursuit of profit, and free market competition. It is based on the principles of supply and demand, and the pricing of goods and services is determined by market forces.
Now, let's examine the historical periods mentioned:
A. During the colonial period: The American colonies were primarily governed by mercantilism, where economic activity was heavily regulated and controlled by the British Crown. While there were some elements of capitalism in local trade and commerce, the overall economic structure was not firmly rooted in capitalism.
B. During the federalist era: The Federalist era occurred after the American Revolution, from 1789 to 1801. During this time, the United States established a new government and constitution. While some capitalist principles were embraced, such as protection of private property rights, the economic system was not fully immersed in capitalism. The government played a significant role in shaping economic policies and was involved in infrastructure development and trade regulation.
C. During the Jacksonian era: The Jacksonian era (1829-1837) is often associated with the rise of Jacksonian Democracy and populism. This period witnessed significant changes in economic policies, with the dismantling of the Second Bank of the United States and the introduction of policies favoring a more competitive economic landscape. This era saw increased support for laissez-faire economics and a greater emphasis on individual economic opportunities. However, capitalism as we know it today was not fully established during this time.
D. During the Civil War: The Civil War (1861-1865) was a time of intense conflict and military focus, rather than economic transformation. While economic changes did occur as a result of the war, such as increased industrialization and government intervention, it cannot be considered a turning point in shaping American economic institutions into a capitalist framework.
E. During the late 1890s: The late 1890s marked the beginning of the Progressive Era, which aimed to address the social and economic challenges associated with industrialization. During this time, there were efforts to regulate large corporations and introduce social reforms. However, the economic system was still a mixture of regulation and capitalism, with the government playing a more significant role in managing the economy.
Based on the explanations above, the answer is A. during the colonial period. Although capitalism was not fully established during this time, it laid the foundation for the development of American economic institutions in a capitalist framework.