Chapter3AmericanEconomyAmericanEconomyContents:1.IndustrialRevolution2.GeneralSurvey3.Industries4.AgricultureAmericanEconomyIndustrialRevolutionAdamSmithAlexanderHamiltonEarlyAmericanindustriesSeconddevelopmentAThirddevelopmentAfourthdevelopmentNewerafortheUnitedStatesAmericanEconomyIndustrialRevolution“TheWealthofNations”AdamSmithAmericanEconomyGeneralSurvey1.Thestructureoftheeconomy2.Thepositionintheworld3.InflationandDeficitAmericanEconomyGeneralSurveyStructureoftheeconomy1.Privately-ownedbusiness2.State-ownedbusiness3.non-profitorganizationsAmericanEconomyGeneralSurveystructureoftheemployees1.self-employed(75%)2.governmentworkers(21%)3.employeesofnonprofitorganizations(4%)AmericanEconomyGeneralSurveyPositionoftheAmericanEconomy1.“superpower”inworldaffairs2.dominantpositionofthedollar“BrettonWoodsSystem”布雷顿森林体系/布莱登国际货币制度AmericanEconomyGeneralSurveyBrettonWoodsSystem1.mostmajorcurrenciesarepeggedtotheUSdollar2.thedominantpositionofthedollarwasformallyestablishedintheBrettonWoodsystemwhichwasheldin1945atBrettonWoodsinNewHampshireandattendedby45countries.3.TheconferencealsosetuptheIMF(InternationalMonetaryFund),theWorldBank,andGATT(theGeneralAgreementonTariffsandTrade),laterknownasWTO,itisaworldtradingsystem.AmericanEconomyGeneralSurveyInflationInflationisageneralriseinthepricesofgoodsadservices,therealorpurchasingpowervalueofmoneyisreduced.E.g.Threedollarsarenecessarytodaytobuywhattwodollarsboughtyesterday.AmericanEconomyGeneralSurveyDeficitAmericaneconomyisdeficitfinancing.1.$23billionduringWWⅠ2.$13billionmoreduringthe1930s3.$200billionmoreduringWWⅡ4.By1998thegrossfederaldebthasreached$2trillion5.interestonthefederaldebtisover$150billionayear.AmericanEconomyIndustries1.SectorsofAmericanIndustries2.Distributionofindustries3.MajorIndustrialCities4.FactorsoftheDevelopmentofIndustriesAmericanEconomyIndustries------Sectors1.Manufacturing2.HighTechnology3.HeavyIndustry4.Aviation5.CarIndustryAmericanEconomyIndustries------SectorsManufacturingTheUSmanufacturingindustryisthelargestintheworld,almost3timesthesizeofJapan.1.onequarterofGNP2.onequarterofthenationalincome3.over1/5oftheUSworkforceAmericanEconomyIndustries------SectorsHighTechnology1.oneoftheworldleadersinthehightechnology,intheareasoftelecommunication,electronics,computerchipresearchandmanufacturingandsoftwaredevelopment.2.USistheworldmajorproducerofhigh-speedcomputers.AppleComputerCorporationandInternationalBusinessMachines(IBM)AmericanEconomyIndustries------SectorsHeavyIndustryHeavyindustryaroundtheGreatLakesdependsheavilyupon3resources.1.ironorefromtheLakeSuperior2.coalsupplyfromtheAlleghenyhillsofwesternPennsylvania3.coalsupplyfromwestVirginiacheapwatertransportationprovidedbytheGreatLakesandrivers.Theyconstitutethebaseforthedevelopmentofindustryintheregion.AmericanEconomyIndustries------SectorsAviation1.UShasthelargestaviationindustryintheworld.2.Majoraircraftcompanies:Boeing,McDonaldDouglas3.Spaceshuttlesstillleadtheworld’sspacenavigations.AmericanEconomyIndustries------SectorsCarIndustry1.“BigThree”motorvehiclecompanies“Ford”“GeneralMotors(GM)”and“Chrysler”2.large,spaciousandhigh-powered3.theinfluxofJapanesecarsandsparepartsisthemaincauseofAmerica’s$60billiontradedeficitwithJapan.AmericanEconomyIndustries------DistributionDistributionofIndustries1.NortheasternAmerica,themostimportantindustrialregion.NewEnglandandGreatLakes2.TheSouthwastraditionallyanagriculturalregionbecauseofitsfavorableclimateforcrops.TheSouthdevelopeditsoil-refiningandPetro-chemicalindustry.Meanwhilethetextileindustryandheavyindustryalsodeveloped.AmericanEconomyIndustries------CitiesNewYorkPittsburghChicagoDetroitDallasandHoustonSeattleSanFranciscoandLosAngelesAmericanEconomyIndustries------CitiesNewYork1.thelargestcity2.thelargestseaportAmericanEconomyIndustries------CitiesPittsburgh1.anotherimportantindustrialcityinPennsylvania2.itstandsbytheOhioRiverwhichfinallyjoinstheMississippiRiver.3.ithasdevelopedabigsteel-makingindustry,andisnowthelargestproducerofironandsteelintheU.S.AmericanEconomyIndustries------CitiesChicago1.borderonlakeMichiganandthethirdlargestcityinUS.2.mostimportantindustrialandcommercialcityintheMiddleWest.3.largestfood-processingcenter4.famousforitsclothingindustry.AmericanEconomyIndustries------CitiesDetroit1.theworld’scarcapitalItisthehomeofFord,GeneralMotorsandChrysler.2.DetroitisalsoaseaportAmericanEconomyIndustries------CitiesDallasandHouston1.BothcitiesaresituatedinTexas2.Dallashasbecomefamousforitslargeoilindustry.3.Houstonisalsofamousforitslargeoilindustryandisfamousforitsimportantroleinspacenavigationandoilindustry.4.TheUSNationalAeronauticsandSpaceAdministration(NASA)issituatedinHouston.AmericanEconomyIndustries------CitiesSeattle1.oneofAmerica’simportantseaporttohandletradewitheasterncountries.2.amajorcenteroftheaircraftindustry.AmericanEconomyIndustries------Sectors1.Sparsely–populated2.Thefourthlargestareaandpopulation3.Endlessstreamsofimm