chapter 10 economy of the USA 美国经济
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Samuel Slater
the “Father of the American Industrial Revolution”
2. The “American system” of mass production
firearms industry requiring precision engineering
New inventions
4. the emergency of the bank and the corporation
The first American commercial bank appeared in the 1780s Not until 1863 did the US create a truly national banking system with a standard paper currency
A Survey of the UK & the USA
Chapter 10 American Economy
大连职业技术学院
introduction Industrial Revolution OBJECTIVES
Free enterprises The Roots of American affluence
Introduction of the concepts of “scientific management” , helping to lower the costs of production still further
3. The application of new technologies to industrial tasks
The vast dimensions and ample natural resources
Enough workers and consumers
Entrepreneurial spirit
Reluctant government’s interference
American Dream
Positive factors: Adam Smith The Wealth of Nations (1776) Industrial Revolution in England
Alexander Hamilton
Economic development strategies
1
2
3
4
nurture infant industries by providing overt subsidies (公 开的补贴)
Contents
Ⅰ
Industrial Revolution in America
Ⅱ
Free Enterprises
Ⅲ
The Roots of American Affluence
Industrial Revolution in America
After the American Revolution, America was principally an agricultural country
Differences of the three:
Sole proprietorship
The partnership
Corporation
Compared with the sole proprietorship and the partnership , the corporation may survive the death of its founder or founders . Because it could draw on a pool of investor, it is a much more efficient tool for raising the large amounts of capital needed by expanding business. And it enjoys limited liability, so inventors only risk the amount of their investment and not their entire assets.
2) Agribusiness
3) High living standards of American farmers
generosity of nature
Dark side:
1) go through prosperity and recession 2) passive influence upon environment
Service industries
1 Industries that sell a service rather than make a product, which now dominate the economy.
2
Service industries range from banking to telecommunications to the provision of meals in restaurants.
6. Rise and decline of a succession of industries in 20th century and the transference of employment from manufacturing industries to Service Industries
impose protective tariffs on imports
create a national bank
assume public debts (国 债)
Six developments of the Industrial Revolution in US
1. The introduction of the factory system
Essentially the American Dream is an idea which suggests that all people can succeed through hard work, and that all people have the potential to live happy, successful lives.
3
As more and more people are employed in service industries in the US, the US has moved into a “post-industrial era”
Free Enterprises
源自文库
Laissez-faire Era: economic freedom of capitalism Capitals
STARTER
• Of the world's 500 largest companies, ________ are headquartered in the US, twice that of any other country. • A.130 B.133 C.131 D. 132 • 8. In ______, the US spent more on health care per capita ($7,146), and as percentage of GDP (15.2%), than any other nation. • A. 2005 B. 2006 C. 2007 D. 2008
American Agriculture
GNP Text in here
Cultivators
individualism
Success of Agriculture
1) Produces as much as half of the world's soybeans and corn for grain, and from 10 to 25 percent of its cotton, wheat, tobacco and vegetable oils.
American dream
Recent news titles from NY Times
The Fraying Ties Between Education and Jobs Consumers Borrow Again, but Shy Away From Credit Cards Retail Sales Rise 1%, but Consumer Confidence Wanes Wall Street Lower on Disappointing Economic News U.S. Trade Deficit Rose 15% in January on Higher Oil Prices Applications for Unemployment Benefits Rose Last Week
Eli Whitney
Manufacturing rifles and interchangeable parts inventing the cotton gin to remove the seeds from the bolls of cotton quickly
Henry Ford
introducing the "moving assembly" line in 1913
5. The construction of railroads marked the start of a new era for the United States.
The census of 1890 showed that the output of factories surpassed that of farms.
American Economy – introduction
Economic influence of the US to other countries
Some Western economists say:
“When the United States sneezes, the rest of the world catches cold.”
the biggest industrial country in the world.
both an economic and technological giant less than 6% of the world’s population produces about 25% of the total world output. 40% of the world's billionaires are American
• The United States is rich in mineral resources and fertile farm soil, and it is blessed with a ______climate. • 6. Since______, more than a third of economic growth has come directly from exports, and the number of export-related jobs has increased by an estimated 2.2 million.
Quotation
If we command our wealth, we shall be rich and free; if our wealth commands us, we are poor indeed.
----Edmund Burke, Irish Politician
11/25/2016
Stock exchange Loan from banks
Problems
poor working conditions
discrimination in employment
monopoly of production and prices
The Roots of Affluence
the “Father of the American Industrial Revolution”
2. The “American system” of mass production
firearms industry requiring precision engineering
New inventions
4. the emergency of the bank and the corporation
The first American commercial bank appeared in the 1780s Not until 1863 did the US create a truly national banking system with a standard paper currency
A Survey of the UK & the USA
Chapter 10 American Economy
大连职业技术学院
introduction Industrial Revolution OBJECTIVES
Free enterprises The Roots of American affluence
Introduction of the concepts of “scientific management” , helping to lower the costs of production still further
3. The application of new technologies to industrial tasks
The vast dimensions and ample natural resources
Enough workers and consumers
Entrepreneurial spirit
Reluctant government’s interference
American Dream
Positive factors: Adam Smith The Wealth of Nations (1776) Industrial Revolution in England
Alexander Hamilton
Economic development strategies
1
2
3
4
nurture infant industries by providing overt subsidies (公 开的补贴)
Contents
Ⅰ
Industrial Revolution in America
Ⅱ
Free Enterprises
Ⅲ
The Roots of American Affluence
Industrial Revolution in America
After the American Revolution, America was principally an agricultural country
Differences of the three:
Sole proprietorship
The partnership
Corporation
Compared with the sole proprietorship and the partnership , the corporation may survive the death of its founder or founders . Because it could draw on a pool of investor, it is a much more efficient tool for raising the large amounts of capital needed by expanding business. And it enjoys limited liability, so inventors only risk the amount of their investment and not their entire assets.
2) Agribusiness
3) High living standards of American farmers
generosity of nature
Dark side:
1) go through prosperity and recession 2) passive influence upon environment
Service industries
1 Industries that sell a service rather than make a product, which now dominate the economy.
2
Service industries range from banking to telecommunications to the provision of meals in restaurants.
6. Rise and decline of a succession of industries in 20th century and the transference of employment from manufacturing industries to Service Industries
impose protective tariffs on imports
create a national bank
assume public debts (国 债)
Six developments of the Industrial Revolution in US
1. The introduction of the factory system
Essentially the American Dream is an idea which suggests that all people can succeed through hard work, and that all people have the potential to live happy, successful lives.
3
As more and more people are employed in service industries in the US, the US has moved into a “post-industrial era”
Free Enterprises
源自文库
Laissez-faire Era: economic freedom of capitalism Capitals
STARTER
• Of the world's 500 largest companies, ________ are headquartered in the US, twice that of any other country. • A.130 B.133 C.131 D. 132 • 8. In ______, the US spent more on health care per capita ($7,146), and as percentage of GDP (15.2%), than any other nation. • A. 2005 B. 2006 C. 2007 D. 2008
American Agriculture
GNP Text in here
Cultivators
individualism
Success of Agriculture
1) Produces as much as half of the world's soybeans and corn for grain, and from 10 to 25 percent of its cotton, wheat, tobacco and vegetable oils.
American dream
Recent news titles from NY Times
The Fraying Ties Between Education and Jobs Consumers Borrow Again, but Shy Away From Credit Cards Retail Sales Rise 1%, but Consumer Confidence Wanes Wall Street Lower on Disappointing Economic News U.S. Trade Deficit Rose 15% in January on Higher Oil Prices Applications for Unemployment Benefits Rose Last Week
Eli Whitney
Manufacturing rifles and interchangeable parts inventing the cotton gin to remove the seeds from the bolls of cotton quickly
Henry Ford
introducing the "moving assembly" line in 1913
5. The construction of railroads marked the start of a new era for the United States.
The census of 1890 showed that the output of factories surpassed that of farms.
American Economy – introduction
Economic influence of the US to other countries
Some Western economists say:
“When the United States sneezes, the rest of the world catches cold.”
the biggest industrial country in the world.
both an economic and technological giant less than 6% of the world’s population produces about 25% of the total world output. 40% of the world's billionaires are American
• The United States is rich in mineral resources and fertile farm soil, and it is blessed with a ______climate. • 6. Since______, more than a third of economic growth has come directly from exports, and the number of export-related jobs has increased by an estimated 2.2 million.
Quotation
If we command our wealth, we shall be rich and free; if our wealth commands us, we are poor indeed.
----Edmund Burke, Irish Politician
11/25/2016
Stock exchange Loan from banks
Problems
poor working conditions
discrimination in employment
monopoly of production and prices
The Roots of Affluence