U.S.A.: Development since the Civil War; Impact of the Commercial and Industrial Revolutions of England
on the economic development of the U.S.A.; Economic Depression New Deal; Pattern of American
Capitalism; U.S.A. In World economy
Development since the Civil War:
The period after the Civil War in the United States saw rapid economic development. This period was marked by several factors, including the growth of railroads, the expansion of the steel industry, and the emergence of new technologies like electricity and the telephone.
Impact of the Commercial and Industrial Revolutions of England on the economic development of the U.S.A.:
The Industrial Revolution in England had a significant impact on the economic development of the United States. Many of the technological innovations that were developed in England during this time were quickly adopted by American manufacturers. The growth of the textile industry in the United States, for example, was directly linked to the success of the textile industry in England.
Economic Depression New Deal:
The Great Depression of the 1930s was a major turning point in the economic history of the United States. The New Deal policies of President Franklin D. Roosevelt, which were designed to stimulate economic growth and create jobs, had a lasting impact on the American economy. These policies included measures like the creation of the Social Security system, the establishment of the Federal Deposit Insurance Corporation, and the construction of public works projects like the Hoover Dam.
Pattern of American Capitalism:
The American economic system is often referred to as capitalism, which is based on the principles of private ownership of the means of production, free enterprise, and competition. One of the defining features of American capitalism is the role of the government in regulating the economy. While the United States has a market-based economy, the government plays an active role in promoting economic growth, regulating business practices, and providing social welfare programs.
U.S.A. In World economy:
The United States has played a dominant role in the global economy since the end of World War II. The country has been a leader in international trade, and its currency, the U.S. dollar, has served as the world’s reserve currency. American multinational corporations have also played a significant role in shaping the global economy. However, the rise of other economic powers like China has challenged the dominance of the United States in recent years.
In summary, the economic development of the United States has been marked by a period of rapid growth since the Civil War, with a significant impact from the Industrial Revolution in England. The New Deal policies of the 1930s had a lasting impact on the American economy, and the country’s economic system is characterized by a blend of market-based principles and government regulation. The United States has been a dominant force in the global economy, but faces challenges from other emerging economic powers.