1、 Chapter 11EconomyEconomyContentsContents History of American Economy Current American Economy General Introduction USthe current industrial, economic and technological giant ranking first in computer technology, space technology, nuclear energy, and electronics, etc.; producing a major portion of t
2、he worlds machinery, automobiles, oil, electrical energy, and chemicals. Mixed economy emphasizing private ownership federal governmentregulating businesses anti-trust laws General IntroductionGeneral Introduction Private businesses produce most goods and services. Two thirds of the output goes to i
3、ndividuals; One third is bought by government and business. “Consumer economy” General IntroductionGeneral Introduction History of American Economy History of American EconomyThe Colonial Period Since American IndependenceThe 20th Century 1231. The Colonial Period1. The Colonial Period Massachusetts
4、settled by Pilgrims to escape religious persecution Other colonieslike Virginia and Pennsylvania, founded as business ventures charter companies contribution to Englands colonizing process of the would-be United States King provided a charter or grant conferring economic rights as well as political
5、and judicial authority1. The Colonial Period1. The Colonial PeriodvEnglish investors turned over colonial English investors turned over colonial charters to the settlers. charters to the settlers. enormous political implications Colonists were left to build their own lives, communities, and economy,
6、 that is, to construct their new nation1. The Colonial Period1. The Colonial Period appearance of sawmills (锯木场) and gristmills (磨房) shipyardsbuilding fishing fleets and trading vessels small iron forges (冶炼厂)vSecondary industries (Secondary industries (二级产业二级产业) ) GristmillGristmillIron forgeIron f
7、orge1. The Colonial Period1. The Colonial Period Clear regional patterns of development by the 18th century: New Englandship-building and sailing; Maryland, Virginia, and Carolinastobacco, rice and indigo (靛蓝属植物); New York, Pennsylvania, New Jersey and Delawareshipped crops and furs; The field was o
8、pen for entrepreneurs (企业家、创业者) among the colonists to establish themselves.1. The Colonial Period1. The Colonial Period Disputes over taxation and other matters with Britain: Americansmodification (减轻) of taxes and regulations; demand for more self-government Mounting quarrelleading to war against
9、the British and to independence for the colonies American Revolution: bolstered (支持、支撑) by an emerging middle class rallying cry“inalienable rights to life, liberty, and property”1. The Colonial Period1. The Colonial Period2. Since American Independence 2. Since American Independence U.S. Constituti
10、on established the nation as a unified market. no tariffs or taxes on inter-state commerce; Federal government could regulate commerce with foreign nations and among the states, establish uniform bankruptcy laws, create money and regulate its value, fix standards of weights and measures, establish p
11、ost offices and roads, and fix rules governing patents (专利权、专利品) and copyrights. “intellectual property”vAlexander Hamiltons economic development strategy2. Since American Independence 2. Since American Independence nurture infant industries by providing overt subsidies (公开的补贴) impose protective tar
12、iffs (保护性关税) on imports create a national bank assume public debts Alexander Hamilton was the first United States Secretary of the Treasury, a Founding Father, economist, and political philosopher. The Industrial Revolution nBy 1860, one third of the nations income came from manufacturing;nCotton cl
13、oth production was the leading industry;nUrbanized industrylimited to the Northeast;nImmigrant workers Between 1845 and 1855, some 300, 000 European immigrants arrived annually. 2. Since American Independence 2. Since American Independence Urban IndustrializationTextile Plant2. Since American Indepe
14、ndence 2. Since American Independence The Southrural and dependent on the North for capital and manufactured goods Economic policy under President Lincoln:2. Since American Independence 2. Since American Independence nIn 1861, adoption of a protective tariffnIn 1862, the first Pacific railroad was c
15、hartered. nIn 1863 and 1864, a national bank code (银行代码) was drafted. Northern victory in the Civil Warensured the destiny of the nation and its economic systemnslavery system was abolished, making southern cotton plantations less profitable;nNorthern industry surged ahead: Industrialists domination
16、 in social and political affairs Disappearance of the southern planter aristocracy (贵族)2. Since American Independence 2. Since American Independence “Second industrial revolution” an explosion of new discoveries and inventions: The discovery of oil; The development of typewriter; The invention of te
17、lephone, phonograph (速记法), and electric light; Refrigerated railroad cars came into use; Cars were replacing carriages and people were flying in airplanes by the dawn of the 20th century.2. Since American Independence 2. Since American Independence 3. The 20th Century3. The 20th Century Experienced
18、a period of prosperity in the early 20th century Suffered Great Depression in the 1930snWall Street Crash in October 1929 3. The 20th Century3. The 20th Century President Roosevelts New Deal (新政)intervention of the government ensure that economic opportunities are fair and accessible to the people;
19、prevent flagrant (公然的) abuses of the system; Dampen (抑制) the effects of inflation; stimulate growth. His New Deal was popular with the electorate (选民) and led to a successful reelection in 1936. Reagan Administrations new monetarist (货币主义者) policies in the early 1980s control over government spendin
20、g deficits cutting taxes to enhance economic development raise of interest rates George H. W. Bushslow economic recession Clintoneconomic recovery 3. The 20th Century3. The 20th CenturyII Current American EconomyII Current American EconomyAgriculture Agriculture 1ManufacturingManufacturing IndustryI
21、ndustry2Service IndustryService Industry3High-tech IndustryHigh-tech Industry4Foreign TradeForeign Trade51. Agriculture1. Agriculture Conditions for developing agriculture: vastness of the land generosity of nature rainfall, rivers and underground water allowing for irrigation where necessaryvAverag
22、e American farm462 acres (187 hectares) Success of agriculture large capital investments highly trained labor new methods for raising crops1. Agriculture1. AgriculturevModern farming disease and drought resistant seeds fertilizers and pesticides space technology utilization “Agribusiness” a variety
23、of farm businesses and structures from small, one-family corporations to huge conglomerates（联合企业:由许多不同行业的公司组成的有不同经营范围的大企业）or multinational firms American farms low-cost output One-third of crops for exportEurope, Asia, Africa and Latin America Agricultural imports lag far behind, leaving a surplus i
24、n the agricultural balance of trade1. Agriculture1. Agriculture Farmersnot work on the farms full-time 45 percent with other occupations 240, 000 tenant farmersrent land for cash or pay the owner a share of the crops they grow migrant workershired only for a specific chore Agriculture remains the fo
25、undation upon which American well-being and prosperity are based. 1. Agriculture1. Agriculture2. Manufacturing Industry2. Manufacturing Industry Large manufacturing industries employing more than 24 million workers Highly developed military industry Auto companiesFord, General Motors and Chrysler Bo
26、eing Aircraft Companycommercial airliners Other industries: food, clothing, etc.America has formed an America has formed an industrial system with large industrial system with large productivity.productivity.3. Service Industry3. Service Industry Tremendous growth in employment in the service sector
27、 since the 1970s three categories: services for the affluentcommercial banking, life insurance, real estate and law services welfare serviceshealth care, education, government and social services services provided by the poorservices to buildings and dwellings, retail services3. Service Industry3. S
28、ervice IndustryAdvanced service industry4. High-tech Industry4. High-tech Industry High-tech industries ranking first in the world More emphasis on space technology, electronics, chemicals and computing Successful flight of the space shuttle Leading computer companies in the world Leading engineerin
29、g and information technology4. High-tech Industry4. High-tech Industry美国计算机协会（Association of Computing Machinery，简称ACM）是一个国际性的科技教育组织，是世界上第一个科学性及教育性计算机学会。ACM致力于提高信息技术在科学、艺术等各行各业的应用水平。5. Foreign Trade5. Foreign Trade US foreign trade plays a significant role in the economy Trade pattern: from domestic
30、-oriented to internationally-oriented Reducing trade barriers (贸易壁垒) and coordinating the world economic system Promoting bilateral (双边的) and regional trade to enhance domestic stability and loyalty of allies Exportsabout 10% of the worlds total Most important products for export office machines, ho
31、usehold appliances, chemicals, metal manufactures, petroleum products, etc. Ranking first in export of agricultural products Leading exporter of civil aircraft, service, technology and weapons5. Foreign Trade5. Foreign Trade Americabiggest percentage of imports in the world import capacity15% of the
32、 worlds total major products for importstin, nickel, etc. Industriesbuilt around a continuous supply of essential raw materials The largest single-country provider of trade-related assistance5. Foreign Trade5. Foreign TradeGrowth and decline of the U.S. foreign trade volume determine the trend of the world economy.
