Economic Crisis

From 1870 to 1910 was Pittsburgh's Golden Age. Steel was a main factor in making Pittsburgh what it is today. But steel was not the only industry in Pittsburgh. Wood, coal, limestone, sand, and flax were also some of the resources they had. It was the steel capital of the world due to the abundance of resources. With all of the big promising jobs many people did not want to have the small jobs that were needed (Dietrich).

Shortly after the revolutionary war, the small town of Pittsborough, then renamed Pittsburgh began to develop into a very important center, specializing in trading and industry. The convenience of natural resources and technological advancement has ranked Pittsburgh as one of the leading industrial cities in the United States in the past. Historically, the city of Pittsburgh has created numerous manufacturing plants responsible for producing steel, iron, and other products for the U.S. economy that still exist today. The Encyclopedia Britannica explains Pittsburgh's economic might during this period:

The board game Monopoly is played amongst a group of 2-8 players. Each player roles his or her dice and move around the board landing on properties, railroads, or utilities. The properties typically raise in value the further along a player moves around the board. The thought of Boardwalk’s value depreciating to Mediterranean Avenue is unheard of in the board game of Monopoly. However, in the real life game of Monopoly, a major city in America (Detroit, Michigan) had experienced a catastrophic depreciation in value that ultimately led to the city filing for chapter 9 bankruptcy. This writing assignment will evaluate the components that led to the rise and fall of a major city in America. First, it is important to examine the components that led to the growth and prosperity of Detroit, Michigan.

In the 1800s, the first Steel Mills were built in Youngstown, Ohio and it’s economy flourished their Steel Mills produced the majority of steel used in World War I, their economy picked up once again during World War II. This created many jobs. On September 19, 1977, “Black Friday,” was started. It was the beginning of the end for Youngstown, Ohio’s stable economy. On September 19, 1977 Youngstown starting losing the steel industry jobs, this lasted until the mid 1980s. Youngstown, Ohio became apart of the ,”Rust Belt,” along with Pittsburg. The,” Rust Belt is a chain of cities in northeastern and Midwestern US, that are known for their declining industries. According to Professor Harris, Youngstown, “Ohio will NEVER Recover. Youngstown, Ohio

This paper explores the economic restructuring and revitalization of Detroit Michigan post World War II until today. The purpose of this research paper is to show the history of Detroit’s auto and manufacturing industry, in what ways it has changed in recent years, and how it has helped define the economy of Detroit and damaged it. This paper suggests that the deindustrialization of plants and industries and the depopulation of whites to the Suburbs have triggered the economic downfall of the Motor City. Some social issues such as race discrimination and segregation that might have led to the riots of 1943, and 1967, and the migration of African Americans to Northern States in search of employments will be discussed as well. In

For the start of immigration in the mid 19th century, Cleveland has become a city full of cultural diversity and outside influence. In some cities at this time, people were forced to give up their traditions and culture, and assimilate into the already established culture of the city. In Cleveland, this allowed for a diverse workforce and unique neighborhoods. When the industrial revolution began, there was a spark in Cleveland's population and value, as a central city, between Minnesota and western Pennsylvania, Cleveland became the major hub for steel manufacturing. Companies, population and popularity of Cleveland grew exponentially while John D. Rockefeller grew his standard oil and railroad business. But then something unexpected happened, the great depression hit the United States hard, but it hit the city of Cleveland even

The collection of articles, “The Shame of the Cities” written by Lincoln Steffens, evidently reveals the history of corruption in many American cities during the 18th and 19th century. The chapter, “Pittsburg: A City Ashamed” focuses wholly on the effect Christopher Magee had on the city of Pittsburg during the time of his ruling. With the help of William Flinn, Thomas Bigelow, and E.M. Bigelow, Chris was in complete control over the city. While some of what he was doing was very helpful toward, it is undeniable that he was the cause of Pittsburgh’s extensive corruption.

The start of Baltimore’s economic decline lead to huge numbers of unemployment in black communities. Baltimore flourished industrially through World War II, but industrial leaders were aware of the difficulties to come with maintaining Maryland’s economic prosperity after

Up to 2000 Newark residents are unemployed due to factors such as age and education level. This process of revitalization in Newark can bring a huge decrease to the number of unemployed residents. After reading the article A Revival in Newark, but some worry

In the book, “The face of Decline: The Pennsylvania Anthracite Region in the Twentieth Century”, (2005), discusses different elements towards the economic crisis of the capital and labor, local businesses, redevelopment of agencies, and state and federal governments. Dublin and Licht pounder upon the remarkable range of sources including oral histories, documentary photographs, records of coal companies, and community newspapers. The authors observe the effect of the economic decline across a wide region but mainly focuses on a small group of mining communities in specific regions. Also, the authors place the anthracite region within a broader framework,

The New Deal was very successful. One great claim that helped the city was the Social Security act. The Social Security act was very successful because it gave people who can't work money. So that they can still take care of themselves. The Social Security act took place in 1935. It helped people over the age of 65 who couldn't work. This act was a success because when people couldn't work they couldn't get money so this was a way for them to get money. This connects to the claim because most people liked how it gave people money.

Even in spite of the economic recession in 1991, Nucor still appeared to be one of the fastest growing steel companies in America, even considering the spending levels regarding disposable income among Americans. This is especially true since September 11, attacks, because economic levels in America have tended to exhibit a slight disability. After the attacks on 9-11 markets, as well as the overall financial climate of the United States took on immediate hits. Yet, after President Bush’s tax cuts made in 2002, the country rebounded from a mild recession which dated back to the Clinton administration and has since sought to recover. The steel industry worldwide was mired in one of its most unprofitable periods ever when 9-11 hit. The recovery from the recession, as well as an attempt to pull through current financial hard times due to the war in Iraq have added extra strains on Americans and their ability to spend, which in turn affects the steel industry.

Detroit, once the New York City of its time, nick named the “Motor City” as it contained one of the leading car manufacturing centers of the automobile industry. As a metropolis for the first half of the twentieth century, Post World War II, Detroit became an economic fortress and focal point in American History. Detroit’s economic stronghold placed the city in a position that was once beneficial. From the surging employment opportunities perpetuated by the booming automotive market to the development, and implementation of substandard housing and the casual labor market, Detroit became the land of opportunity that loomed with an air of new beginnings. Today, however, Detroit continues to reap the aftermath of contradictory political

For over half a century the Pittsburgh region was the largest concentration of steel making in the world. Its collapse was spectacular. The mill towns strung along the Monongahela Valley have now suffered forty years of decline. Much of their shabby infrastructure and buildings (at best homely even in their prime) has decayed, most of their population has fled to the metropolitan suburbs or left the region, and those that remain, for the most part poor, struggle or live off memories. Regeneration is a continuing problem for public policy makers as the mill towns struggle on life-support systems — public welfare for individual households; funding from federal, state and local agencies for public services, projects and a plethora of

Global crisis occurs due to financial crisis and economic crisis. These are nothing but risk that could threaten humankind as a whole or even cause the end of planet Earth. A financial crisis is a situation where money demand quickly rises relative to money supply. A stock market crash is an example for this. Whereas economic crisis refers to the economic down of countries all over the world. They are going down in -ve zone.