1.0 Introduction
Self-evidently the economic development is extremely important to a county. Whether it is to ensure the integrity of the national sovereignty, territorial integrity, military construction or improvement of the national standard of living, all these policies are not able to achieve without economy. As an example The united states, between year 1860 to 1990 also called “Gilded Age” during this period United States had rapidly increased in economy. The millions of immigrants came to the United States from Europe at the meanwhile with rapid development of heavy industry including railways, factories, mining. The output value in the manufacturing during this period increasing sharply from 19 billion dollars to 11.4 billion us dollars; the railway mileage of the 30,000 miles to 250,000 miles; coal production from 10 million tons to 212 million tons; the steel production increased to 1,100 tons from production
…show more content…
From Progressivism to prosperity. New York: 1986. (p3)) This is the most important period for United States economy to catch up with United Kingdom. The GPS growth in this period was 5.26 times, however the United Kingdom grew by only 2.24 times. In year 1913, The GDP and the gross industrial output value all became the first in the world and made the US became the world’s first economic power. At the same time, this era also gave birth the first batch of the large monopoly enterprises with international influence such as JP Morgan Chase, Citibank, General Electric, Exxon Mobil, United States Steel Corporation, American Telephone and Telegraph Company, Ford Motor Company etc. These companies still are mainstay and symbol of the US economy. With economic development, the US transformation of the economic power into political influence