unit 5 economy.pptVIP

As we all know that America is a country with freedom. Unit 5 Economy Framework of This Unit A Historical Perspective Agriculture,Industry and Service Labour and Labour Union American Economy Part one: brief introduction of US economy It is currently both an economic and technological giant, especially in some advanced fields. Economic system includes privately-owned businesses while the federal government also plays an important role in it. Private ownership arise because of the belief of personal freedom. We know that America is a young nation with a history of only about 230 years. During the process of its development, the country went through a lot which were difficult and complicated. In all, it consists of three sections: the Colonial Period, since America independence, the 20th century. Now let’s begin to learn the history of its economy. Part two: history of American economy Section one: the Colonial Period Reasons for the development of the would-be US. charter companies: These companies were given a charter or grant conferring as well as political and judicial authority to seek economic gain. However, they often turned over those charters to the colonists. This meant that the colonists started to construct their own new nation. the development of secondary industries. Main industries were shipbuilding, plantation, crops and furs. All these contributed lots to its increasing wealth. American Revolution With the development of its economy, the colonists in North America were ready for self-government. In the end the War of Independence broke out with the motto of “inalienable rights to life, liberty, and property.” Section two: since American Independence Two important persons in the period Alexander Hamilton He’s one of the founding fathers of the nation and its first Secretary of the Treasury. He advocated an economic strategy. Thanks to his efforts, tariffs became an essential part of American foreign policy, which lasted