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Equity-efficiency tradeoff results when maximizing the productive efficiency of a market leads to a reduction in its equity—as in how equitably its wealth is distributed.
The colonists in New England specialized by using lumber for shipbuilding. The climate and land were not suitable for agriculture, but the forests provided large amounts of lumber. ... The New England colonies did not have very good farmland because of the rocky soil.
Answer:
$4trillion
Explanation:
spent more than $ 4 trillion or 36% of its GDP.More than 400,000 U.S. troops were killed in the defeat to defeat Nazi Germany, Italy and Japanese Empire.
There were several ideas from the Reconstruction and I will focus on:
- 13th Amendment - <u>Very effective </u>
- Sharecropping <u>- needed revising </u>
The Republicans in Congress were able to pass and then ratify the 13th Amendment which:
- Abolished slavery thereby freeing black people
- Allows for Congress to come against other forms of slavery for instance, trafficking.
This was very effective as it ended a dark chapter in American history and paved the way for equality of races.
A disastrous policy that was implemented during Reconstruction was Sharecropping.
Sharecropping was a way by which White landowners kept poor Whites and Black people as legal labor. It involved:
- Lending land to a farmer for payment in the form of harvested crops
- Landowners controlling what the farmer pays them
- Farmers getting into debt because they had to buy seeds and tools from the landowners and interest kept accruing even when they could not harvest enough crops to pay back.
- Farmers being forced to remain on the land to work off their debt.
Sharecropping kept a lot of Black people in bondage and ensured White landowners had a labor force just like during slavery.
This could have been solved by laws being passed that allowed Sharecroppers to change their profession and go into other jobs where they would then have enough money to pay back their debt.
In conclusion, the 13th Amendment allowed the nation to start anew with all people being free but the practice of Sharecropping damaged that in some areas.
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