Years ago, it became established that the severity and length of the Great Depression were due largely to misguided Federal Reserve monetary policy and the resulting catastrophic bank failures. This result is confirmed by surveys of scholars in the area and books specifically written on economic history. Yet the leading textbooks used in high…

While both the 1918 influenza (aka Spanish flu) and the 2020 COVID-19 pandemics were devastating, the 1918 influenza pandemic was considered worse. Its origins are still debated, but it was first identified in the United States at Fort Riley, an Army base in Kansas. According to the Centers for Disease Control and Prevention (CDC), an estimated…

This article presents an economic perspective of the institution of slavery in the context of world and American history. Slavery has existed on all continents and in many societies. Its existence has long been controversial and, in the case of the United States, ended only as the result of a long and destructive war. Slavery as an institution was…

In 1890, the United States government had no agency empowered to control the overall supply of money. Fifty years later, it had a full set of monetary institutions, including a central bank whose structure is much the same today. Further, it had enough experience to know both the promise and the pitfalls of monetary control. How did the nation's…

Central banking in the United States has a long and controversial history dating back to the earliest days of the republic. One of the most widely presented arguments against a central bank has been that the U.S. Constitution does not expressly grant the federal government power to charter a bank. Recently, this issue has received new scrutiny in…

History matters. It matters not only because people can learn from the past, but because the present and the future are connected to the past by the continuity of a society's institutions. Today and tomorrow's choices are shaped by the past. And the past can be made intelligible only as a story of institutional evolution. This story focuses on the…

In this article, the author takes a different approach in teaching U.S. history to young people. His approach is derived from economics but not economics as a long list of concepts embalmed in huge textbooks written for use in Econ 101 and 102. Instead, he suggests, history teachers can do much to improve their instruction by drawing upon a…

The purpose of this article is to: (1) Examine the historical development of the Federal Reserve System; (2) Provide background on Ben Bernanke, the new Fed chairman; (3) Explain the basic tools of monetary policy used by the Fed; (4) Examine the causes of the Great Depression, a topic of special interest to Bernanke; and (5) Provide some key…

To provide a structure for exploring the different approaches of presidents to economic problems, questions are presented. The contrast between the Carter and Reagan programs is discussed and placed into historical perspective by reviewing the different philosophic responses of Hoover and Franklin Roosevelt to economic issues. Classroom…

This lesson guide is designed to help U.S. history teachers and students in grades 8-11 examine historic events through basic economic reasoning. It lends itself to instruction grounded in inquiry learning, direct instruction, and cooperative learning. It calls for students to be engaged in case studies, simulation exercises, and group work, as…

This lesson guide is designed to help U.S. history teachers and students in grades 8-11 examine historic events through basic economic reasoning. It lends itself to instruction grounded in inquiry learning, direct instruction, and cooperative learning. It calls for students to be engaged in case studies, simulation exercises, and group work, as…

Discusses how a better understanding of economics can lead to increased understanding of moral decisions. Addresses what values are not inherent in economics and the positive values inherent in economics. Considers how economics can be used as a tool for character education. (CMK)

This book uses human interest stories to explain perplexing behavior from an economic perspective throughout U.S. history. The set of 15 lessons include: (1) "Indentured Servitude: Why Sell Yourself into Bondage?"; (2) "Do the Right Thing: Free the Slaves, Avoid the War"; (3) "Why Would You Raise Chickens When You Don't Like Eggs? -or- Why Did…

Urges teachers to use historical maps as teaching devices in history classes in order to illustrate the changing record of geographic knowledge. Offers lesson plans for using these maps. Directs teachers to sources from which historical maps of this nature may be obtained. (KO)

Asserts that instructional methods used to teach U.S. history often result in a reliance on routine transmission of information. Argues that the benefits that would derive from adding economics instruction to history are seldom achieved. (CFR)