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The American System, Transportation, and Communication

Read/review the following resources for this activity:
Textbook: Chapter 9, 10 (section 10.4), 11 (section 11.5), 13
https://openstax.org/books/us-history/pages/1-introduction
Lesson
1 primary source that corresponds with your selected topic (noted in the topic instructions)
Minimum of 2 scholarly sources (in addition to the textbook)
Optional Resources to Explore
Feel free to review the library guide for scholarly sources and videos at the following link:
Link (website): History Library Guide (Links to an external site.)
Introduction
The purposes of each case study assignment include the following:
To hone your abilities to research using scholarly sources
To advance critical thinking and writing skills
To compile a response to the prompts provided
To explore a historical topic and make connections to change over time
Instructions
Pick one (1) of the following topics. Then, address the corresponding questions/prompts for your selected topic. Use at least one (1) documented example
of the corresponding primary source in your writing.
Option 1: The American System, Transportation, and Communication
Read the following primary source:
Link (website): Of Debates in Congress (Clay’s Debate of the American System in 1832) (Links to an external site.) https://memory.loc.gov/cgi-bin/ampage?
collId=llrd&fileName=011/llrd011.db&recNum=132
(Click on “Next Image” to see all pages of the debate: pp.258-262.)
Then, address the following:
Describe the idea of Henry Clay’s “American System.”
Based on Clay’s economic vision of America, analyze how the American System would build the American market and economy?
Analyze the role of mechanization and communication in the American System.

Sample Solution

ase study will address the concept of inflation – the rise in average level of prices sustained over time that corresponds to a fall in the internal (domestic) purchasing power of money – with regards to Venezuela. The goal here is to explore several trains of enquiry in order to critically evaluate the impact inflation has had – and may potentially have – on the national income and economic growth of Venezuela. As it stands, Venezuela’s inflation rate – 282972.8% – significantly exceeds that which holds 2nd position – Zimbabwe -175.66% (WorldEconomicForum 2019). In order to better decipher the notable disparity in inflation rates between Venezuela and the rest of the world, several areas will be analysed. This macroeconomic issue will be addressed with regards to challenges surrounding it alongside any potential benefits, it’s impact on the labour market, it’s fiscal impact in terms of taxes and government spending and potential policies that could be implemented in hope of combating it. Venezuela holds the highest recorded oil reserves in the world – possessing approximately 300 billion barrels – even surpassing Saudi Arabia. Evidently, oil is one of Venezuela’s most valuable commodities accounting for 95% of Venezuela’s exports and 25% of its gross domestic product (Independent 2018). However, during a period of time in which the global price of oil dropped, foreign demand to buy Venezuelan oil dipped simultaneously. A key factor that lead to Venezuela’s current crisis, is evidently their sole dependence on a single commodity – oil. As University of Florida’s Gamarra explains, this means “you are bound to the ups and downs of the oil price,”. Without a range of high value added assets, an economy lacks diversity and is vulnerable to ‘moments of downturns in your principal commodities (CNBC 2019).’ On an individual basis, hyperinflation renders any savings worthless due to its eroding impact on money. Consequently, people may hoard goods for instance, food due to the soaring prices. Situations such as these may lead to shortages of food supply, contributing to the issue further.
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