United States Economy Research Paper

Running Head: GROUP PROJECT ON THE UNITED STATES ECONOMY2IntroductionOur project approaches the United States economy after the big economic depression in 1930 that collaborated to start the World War II. Those big world economic events crash the United States and the world economy deeply. The United States is always facing a large challenge on the economic environment. On this project is possible to detect some increase in spots on the United States economy and how they could solve the country issues. They were really learned how to win their owner economic disabilities sometimes in a hard way. The UnitedStates is a negotiator country and they have a great know-how on how to make a business with other countries and take advantage on it. The

Running Head: GROUP PROJECT ON THE UNITED STATES ECONOMY3 Overview of the United States in Economic Reforms from a Historical Perspective: In the 19th century, the European industrial revolution sent immigrants to the east coast of the U.S., where they spread to the north as new workers. On the other hand, in the southern part of the country, the federal government protected their economic interests, including slavery. Thisfriction of different systems between coasts caused the American Civil War and it ended with a Northern victory. The slave-labor system was abolished and made the northern industry expand rapidly to lead new discoveries and inventions such as oil in Pennsylvania, the typewriter and refrigerated railroad cars. As industries grew larger, they developed mass production methods, and in 1913, by Henry Ford, true mass production was accomplished (Kenneth. 1989). Held-back consumer demands brought strong economic growth in the postwar period after

This caused the federalbudget deficits to grow, foreign competition intensified, the stock market sagged, and people expected the price of goods to increase so they bought more goods before prices got too high. But this demand pushed prices higher and led to higher wages, which pushed prices even higher in a continuing upward spiral. Labor contracts increasingly came to include automatic cost of living clauses, and the government began to peg some payments for their services (Gray & Hugh. 2013).The U.S. is always facing huge challenges in economic world scenarios. After World War II, the U.S. took some initiatives to help those countries in need and establish economic order. The International Gold Standard made all countries' currencies accepted globally. At that time, the U.S. economy was making a great deal to intermediate the US dollar between countries'currencies and gold value, that is what the IMF did for a long time. The U.S. decided to end the Bretton Woods Monetary System, take the dollar off the gold standard, and added a tariff on imported goods. The OPEC, Organization of the Petroleum Exporting Countries, embargoed exports of oil to the U.S. as punishment. Thus, all those activities and others were reflected in the1970s and 1980s. Furthermore,