AP US History in 1 Minute Daily: Pro Growth Government Policies (Day 180/309)

Hey APUSHers, let’s chat about Pro Growth Government Policies as part of my series- APUSH in 1 Minute Daily!

Let Them Have It All And Be Done With It, Wikimedia Commons

During the late 19th century, the U.S. government supported pro-growth policies that fueled the emergence of a booming industrial economy.

Railroad Land Grants, Weber State University

The nation’s first big business, railroads, received significant federal support through land grants and loans. To help finance the construction of the railroads, 80 railroad companies were given more than 170 million acres of public land to sell.

What are Tariffs?, Napkin Finance

The government also supported the growth of American businesses by passing legislation that protected private property rights, encouraged American manufacturing through protective tariffs, and kept low taxes on corporate profits.

Laissez-Faire Economic Theory, The Balance

However, in other ways, the federal government adopted a laissez-faire, or “hands-off” approach to business. They avoided regulating business operations, believing that the “invisible hand” of economic forces would motivate companies to offer quality goods and services.

While the government maintained a laissez-faire attitude toward business regulation, they also supported railroad subsidies, protective tariffs, and limited taxes to encourage rapid economic expansion.

Join me tomorrow as I explain Business Consolidation in the next APUSH in 1 Minute Daily!