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United States Economy Research Paper

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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 …show more content…

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 …show more content…

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,

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The 1800’s were a time of widespread growth due to the Industrial Revolution which introduced new manufacturing processes and tools, greatly increasing productivity. As the 19th century came to an end, the Industrial Revolution enforced government intervention into the market place righting wrongs that had come to fruition. Among these interventions were the Sherman Act of 1890, the Greenbacks over the Gold Standard, 1862 and the Interstate Commerce Act, 1887. Even though the United States practiced in a free market, these government interventions moved to reinstate economic opportunities and to correct inequalities in the American economic markets. At first with the widespread Industrial Revolution, everyone encouraged the growth of

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As the industrial boom began to take ahold of the nation, a select few hardworking and determined men seized opportunity

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From 1860 to 1900 the United States quickly became an “industrial nation,” using its plentiful natural resources of oil, coal, steel, and timber, along with abundant labor to drastically increase production of manufactured goods. During this time period millions of immigrants from Europe (Eastern and Western) along with many from East Asia moved to various cities in the US, leading to both a rise in population density in these areas and a labor surplus. The constant supply of cheap labor combined with a strong spirit of competition and very little government regulation led to the rise of enormous “industrial empires” of steel, railroads, and oil. These raw materials were then processed into a vast array of consumer goods, which entered into

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After the World War I, the United States experienced a deepest and longest-lasting economic downturn the history. Poverty and financial crises are problems that the country was facing after the war due to the stock market crash on October 1929, wiped out millions of investors and big corporations. Many people were unemployment and banks were failing create a big mess in the country. To resolve the problem, government stepped up and introduced a New Deal to stabilize the economy and provide jobs. President Roosevelt’s New Deal permanently changed the federal government, created more programs to help United States back where we were before the Great Depression.

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With the surrender of Confederate states in the U.S. and the ending of the American Civil War, one of the most technologically and scientifically impactful eras came to be a the Reconstruction of the United States. During this era, the trend of mass introduction surfaced, the telephone was invented, the cash register was created, motion picture camera, as well as the high-frequency alternator. While all of these changes intertwined with each other, they also brought about key times within the Reconstruction era, such as the Great economic depression of 1893. The diplomatic United States was affected greatly in economic ways by means of trade, culturally, as four million slaves were freed and certain technologies started as a luxury and later

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After the Progressive Era ended which allowed many middle-class Americans to prosper, Americans faced economic turmoil when the Great Depression hit in the 1930’s. Many suffered hardships like losing their jobs or having their businesses shut down which was very difficult. Despite the challenges, the United States has managed to become one of the world’s most leading economical nations in the world, closely competing with eastern nations like Japan and China. But what induced this economic boost? Was it influenced by the stress of war?

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These factors negatively impacted American society as the stock market lost 90% of value between 1929 and 1932, depositors lost $140 billion, Unemployment increased 25%, shanty towns arised, 60% global trade collapsed and American economy decreased 50%. Roosevelt postulated the government should produce an equal society distributing wealth ultimately resulting in The New Deal. The New deal evidently impacted Americas national history, restoring and lifting Roosevelt’s country out of The Great Depression, kickstarting its economy. The new deal also shaped national history politically and socially as Roosevelt’s government introduced deficit spending and welfare programs. The Building of infrastructure created employment for American society increasing employment rates from 16% in 1929-32 to 36% in 1933.

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Although, many other countries were in debt and their economy was torn apart. In attempt to help their own countries, many leaders started raising tariffs or creating some. This stopped international trade across the world because it became harder to trade in

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The Market Revolution generated a drastic change in the United States economy and altered gender barriers while at the same time accomplishing this in a provocative manner. This economic boom occurred around the first half of the 19th Century. The economic boom was achieved by inventions such as a transcontinental railroad system which resulted in a better transportation system which improved trade and the cotton gin which sped up the rate of removing seeds from cotton fiber. However like what the great Hugo said, “The brutalities of progress are called revolutions. When they are over we realize this: that the human race has been roughly handled, but that it has advanced”.

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Some issues were the war in Europe that caused the American economy to weaken, the shifting economy that was built on heavy industry was changing into consumerism, and President Herbert Hoover’s philosophy of government should not interfere with the economy and fixing it were possible reasons why the economy was failing. The effects of the Great Depression impacted the American economy hard with the poor working class citizens being hit with most of the problems. Franklin Roosevelt took office between 1929 and 1933, and saw the economic freefall that impacted the nation economy, “farm prices, wages, exports, imports, gross national product … [There were] bank failures and farm disclosures skyrocketed” (Rural Poverty PDF, 208).

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Between the year of 1865 and the year of 1920, the United States moved towards becoming a more industrialized and developing society. With this change taking place, resulted in improvement with how people live with family and earned money differently. The three major aspects of industrialization during the 1865 and 1920 that influenced the politics, economy and society of the United States are: entrepreneurship, technology, as well as transport and communication network. Entrepreneurship: the period after the Civil War from 1865 to 1920 was characterized by fast economic growth in the country.

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If you got lucky and did not get fired the wages fell and the buying power increased. The americans that were forced to buy on credit fell into debt,and the numbers of repossessions and foreclosures increased steadily. The gold standard fixed currency exchanged around the world, and helped spread economic distress from the U.S. through the world.7When the country elected Franklin D. Roosevelt he promised he would create federal government programs to end the Great Depression.8 The federal government programs allowed people to get more jobs and help the economy increase. Roosevelt was a big influence during this time period and impacted many people, giving jobs to citizens and boosting the economy. After Franklin Roosevelt created the federal government programs it allowed the economy and society to grow and strength from the unlucky situation.

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In the early 1930s the labor force in countries that were industrialized saw as much as one forth of its workers unable to find work. Conditions were starting to improve by the mid 1930s, however total recovery did not happen until the end of that decade. This was a very difficult time in United States history and around the world, but it could be said that something good came out of it, central banks throughout the world now try to thwart or moderate recessions. It is unclear whether a change like this would have occurred if not for the

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