Economic history
Expansion from the 19th century
In 1800
Population growth
Political independence and the ideological principles that support economic activity
Natural resources
In the 17th century
British settlers were employed by British companies that were granted trading charters by the English Crown.
After the War for Independence (1776-83)
The colonies provided Britain with raw materials but could not compete in manufactures exports with the mother country
The US developed its own economic markets
As we can appreciate through the pass of the years, the US economy has faced many changes. Industrial and commercial progress brought many advantages but in the other hand, it also brought financial problems, for instance, unemployment and harsh job. With two Oceans Atlantic and Pacific and Natural resources are one of the factors of production, which are necessary for the economy to operate.The other three are capital, entrepreneurship, and labor.
Something that I would like to point out is the fact that 11 Southern agricultural states opposed on issues of slavery and secession from the Union.
It is important to know that thank to all the hard work made by the slaves, the Southern states took a lot of advantage of slavery.
Some 95 percent of the people lived in rural areas, and the economy was based largely on self-sufficiency.
In the 19th century
Agricultural advances with expanding industrial and manufacturing bases.
These were aided by goverment financial support, economic protectionism and a transport revolution that established railway, canal and road infrastructures.
By the start of the 20th century
Economic progress was affected by the Civil War (1861-5), as 23 states of the industrializing North opposed 11 Southern agricultural states on issues of slavery and secession from the Union.
Between the Civil War and the First World War (1914-18), the US rapidly industrialized and developed urban and suburban areas.
Expansion was based on natural resources, iron and steel production and steam and electrical power.
It was later helped by technical advances and inventions suchs as the internal combustion engine, the telegraph and telephone, radio, etc.
Between 1890 and 1910
Industrial and commercial progress was accompanied by slumps, unemployment and harsh job and living conditions for the expanding population.
President Woodrow Wilson (1913-21)
President Theodore Roosevelt (1901-8)
He tried to regulate them by preventing restrictive deals between companies on products, prices, output levels and market shares
He also attempted to control corporate markets. He passed an anti-trusts law, reduced tariffs against foreign competition and reformed agricultural and labor sectors.
In the 1920s ("The Roaring Twenties") created instability and hardship for many people. There was overproduction by factories and farms; overprotection of business against foreign competition through tariff barries; and financial speculation.
In 1929 the economy collapsed with the Wall Street Crash on the stock market, and many corporate and individual bankruptcies.
This marked the beginning of the worst economic depression in US history (the Great Depression)
In 1933-45, President Franklin D. Roosevelt tried to remedy the situation with his New Deal and was the first president to intervene in the economy by trying to balance public sector services and the private sector market.
In 1935 a Social Security Act was the first major federal legislation to provide security against unemployment, job-related accidents and old age.
The purpose was to stabilize the economy, regulate commercial institutions, create internal demand for American products and prevent social and economic hardship.
In 1944 Bretton Woods Conference in New Hampshire was an attempt at international cooperation, economic liberalization and free trade after the experiences of the two world wars and the Great Depression.
It established the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development.
The Us economy grew after the Second World War (1939-45) and, by the 1950, had achieved global dominance.
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UNIVERSIDAD IEXPRO
Mundos Anglófonos en Perspectiva Histórica y Cultural
Teacher's name: Bellany Ibarra López.
Student's name: José Del Ángel Escutia.
Activity: Mind Map
Grade: LI Group: G Date: June 18th.