American Economy

AmericanEconomyContentsHistoryofAmericanEconomyCurrentAmericanEconomyGeneralIntroductionⅠⅡⅢUS—thecurrentindustrial,economicandtechnologicalgiantrankingfirstincomputertechnology,spacetechnology,nuclearenergy,andelectronics,etc.;producingamajorportionoftheworld’smachinery,automobiles,oil,electricalenergy,andchemicals.Mixedeconomyemphasizingprivateownershipfederalgovernment—regulatingbusinessesanti-trustlawsⅠGeneralIntroductionPrivatebusinessesproducemostgoodsandservices.Twothirdsoftheoutputgoestoindividuals;Onethirdisboughtbygovernmentandbusiness.“Consumereconomy”ⅠGeneralIntroductionⅡHistoryofAmericanEconomyTheColonialPeriodSinceAmericanIndependenceThe20thCentury1231.TheColonialPeriodMassachusetts—settledbyPilgrimstoescapereligiouspersecutionOthercolonies—likeVirginiaandPennsylvania,foundedasbusinessventurescontributiontoEngland’scolonizingprocessofthewould-beUnitedStatescharteredcompaniesKingprovidedacharterorgrantconferringeconomicrightsaswellaspoliticalandjudicialauthorityAcharteredcompanyisanassociationformedbyinvestorsorshareholdersforthepurposeoftrade,explorationandcolonization.特许公司是投资人或股东以贸易、探险和殖民为目的建立的协会。这些公司在16世纪及以后的几个世纪里由欧洲的投资人建立，探索非洲、印度、加勒比及北美并从中获利。他们通常由签署该公司charter的国家赞助。这样使这些国家可以超出国库资源的限制利用私人资源来探险和贸易。1.TheColonialPeriodMayflower,theshipthatcarriedthePilgrimsfromEnglandtoPlymouth,Massachusetts,wheretheyestablishedthefirstpermanentNewEnglandcolonyin1620.1.TheColonialPeriodEnglishinvestorsturnedovercolonialcharterstothesettlers.enormouspoliticalimplicationsColonistswerelefttobuildtheirownlives,communities,andeconomy,thatis,toconstructtheirnewnation.1.TheColonialPeriodappearanceofsawmills(锯木场)andgristmills(磨房)shipyards—buildingfishingfleetsandtradingvesselssmallironforges(冶炼厂)Secondaryindustries(二级产业)GristmillIronforge1.TheColonialPeriodClearregionalpatternsofdevelopmentbythe18thcentury:NewEngland—ship-buildingandsailing;Maryland,Virginia,andCarolinas—tobacco,riceandindigo(靛蓝属植物);NewYork,Pennsylvania,NewJerseyandDelaware—shippedcropsandfurs;Thefieldwasopenforentrepreneurs(企业家、创业者)amongthecoloniststoestablishthemselves.1.TheColonialPeriodDisputesovertaxationandothermatterswithBritain:Americans—modification(减轻)oftaxesandregulations;demandformoreself-governmentMountingquarrel—leadingtowaragainsttheBritishandtoindependenceforthecoloniesAmericanRevolution:bolstered(支持、支撑)byanemergingmiddleclassrallyingcry（战斗口号）—“inalienablerightstolife,liberty,andproperty”1.TheColonialPeriod2.SinceAmericanIndependenceU.S.Constitutionestablishedthenationasaunifiedmarket.notariffsortaxesoninter-statecommerce;Federalgovernmentcouldregulatecommercewithforeignnationsandamongthestates,establishuniformbankruptcylaws,createmoneyandregulateitsvalue,fixstandardsofweightsandmeasures,establishpostofficesandroads,andfixrulesgoverningpatents(专利权、专利品)andcopyrights.“intellectualproperty”（知识产权）AlexanderHamilton’seconomicdevelopmentstrategy2.SinceAmericanIndependencenurtureinfantindustriesbyprovidingovertsubsidies(公开的补贴)imposeprotectivetariffs(保护性关税)onimportscreateanationalbankassumepublicdebts国债AlexanderHamiltonwasthefirstUnitedStatesSecretaryoftheTreasury,aFoundingFather,economist,andpoliticalphilosopher.ThenewgovernmentdidmaketariffsanessentialpartofAmericanforeignpolicy.PresidentJacksonopposedtoHamilton’snationalbank.Whenelectedforasecondterm,Jacksonopposedrenewingthebank’scharter.Businessespanickedinboth1834and1837.2.SinceAmericanIndependenceTheIndustrialRevolutionBy1860,onethirdofthenation’sincomecamefrommanufacturing;Cottonclothproductionwastheleadingindustry;Urbanizedindustry—limitedtotheNortheast;ImmigrantworkersBetween1845and1855,some300,000Europeanimmigrantsarrivedannually.2.SinceAmericanIndependenceUrbanIndustrializationTextilePlant2.SinceAmericanIndependenceTheSouth—ruralanddependentontheNorthforcapitalandmanufacturedgoodsEconomicpolicyunderPresidentLincoln:2.SinceAmericanIndependenceIn1861,adoptionofaprotectivetariffIn1862,thefirstPacificrailroadwaschartered.In1863and1864,anationalbankcode(银行代码)wasdrafted.NorthernvictoryintheCivilWar—ensuredthedestinyofthenationanditseconomicsystemslaverysystemwasabolished,makingsoutherncottonplantationslessprofitable;Northernindustrysurgedahead:•Industrialists’dominationinsocialandpoliticalaffairs•Disappearanceofthesouthernplanteraristocracy(贵族)“Secondindustrialrevolution”2.SinceAmericanIndependence“Secondindustrialrevolution”—anexplosionofnewdiscoveriesandinventions:Thediscoveryofoil;Thedevelopmentoftypewriter;Theinventionoftelephone,phonographandelectriclight;Railroadcarscameintouse;Carswerereplacingcarriagesandpeoplewereflyinginairplanesbythedawnofthe20thcentury.2.SinceAmericanIndependence3.The20thCenturyExperiencedaperiodofprosperityintheearly20thcenturySufferedGreatDepressioninthe1930sWallStreetCrashinOctober19293.The20thCenturyPresidentRoosevelt’sNewDealinterventionofthegovernmentensurethateconomicopportunitiesarefairandaccessibletothepeople;preventflagrant(公然的)abusesofthesystem;Dampen(抑制)theeffectsofinflation;