A Survey of the United States of America3. Economy
School of Western Studies
Heilongjiang University
Economy
Industrial Revolution
Free Enterprise
American Agriculture
Transportation
Foreign Trade
Industrial Revolution
There were two eras of industrial revolution in the 19th century.
The first began in 1840’s when steam power came into use.
The Second Industrial Revolution began in the early 1870’s, when electricity came into use.
The Two Industrial Revolutions
Reasons for Industrial Revolution
Some early decisions by American social and political leaders planted the seeds of industrial growth.
A tariff high enough to discourage imports and give domestic industries time to grow.
Other Hamiltonian measures gave great encouragement to business in general.
The Industrial Revolution in England brought many changes to American industry between 1776 and 1860.
Development of Industrial Revolution
A third development was the application of new technologies to industrial tasks.
A fourth development was the emergency of new forms of anization, notably the bank and the corporation, which facilitated the growth of industry.
Finally, the construction of railroads beginning in the 1830s, marked the start of a new era for the United States.
National Economy
US is the largest developed country and the only superpower in the world.
It leads the world in such fields as:
Information technology, computers, space, nuclear energy, electronics and military
products.
It is the largest automobile maker of the world.
US dollar is used as an international currency.
Western economists regard the US as the dynamic and engine of the world economy.
International ary, the World Bank, Gatt( General Agreement on Tariffs and Trade)
When the United States coughs, the rest of the world catches cold.
National Economy
The US foreign policy:
Sit on the fence (World I,II)
Open Door
Economic system:Free Enterprise/market economy
Most Americans think that the rise of their nation as a l
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