AMERICAN ECONOMYStructure of the economy 1. Privately-owned business 2. State-owned business 3. non-profit organizations
AMERICAN ECONOMY GENERAL SURVEY
CHAPTER 3
American Economy
美国经济英文版
Contents: 1. Industrial Revolution 2. General Survey 3. Industries 4. Agriculture
AMERICAN ECONOMY
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Adam Smith Alexander Hamilton Early American industries Second development A Third development A fourth development New era for the United States
AMERICAN ECONOMY INDUSTRIAL REVOLUTION
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“The Wealth of Nations”
Adam Smith
AMERICAN ECONOMY INDUSTRIAL REVOLUTION
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1. The structure of the economy 2. The position in the world 3. Inflation and Deficit
AMERICAN ECONOMY GENERAL SURVEY
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Bretton Woods System
1. most major currencies are pegged to the US dollar
2. the dominant position of the dollar was formally established in the Bretton Wood system which was held in 1945 at Bretton Woods in New Hampshire and attended by 45 countries.
3. The conference also set up the IMF (International Monetary Fund), the World Bank, and GATT( the General Agreement on Tariffs and Trade), later known as WTO, it is a world trading system.
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1. Manufacturing 2. High Technology 3. Heavy Industry 4. Aviation 5. Car Industry
AMERICAN ECONOMY INDUSTRIES ------SECTORS
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Manufacturing
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1. Sectors of American Industries 2. Distribution of industries 3. Major Industrial Cities 4. Factors of the Development of Industries
AMERICAN ECONOMY INDUSTRIES
4. By 1998 the gross federal debt has reached $ 2 trillion
5. interest on the federal debt is over $ 150 billion a year.
AMERICAN ECONOMY GENERAL SURVEY
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Position of the American Economy 1. “superpower” in world affairs 2. dominant position of the dollar
“Bretton Woods System” 布雷顿森林体系/布莱登国际货币制度
The US manufacturing industry is the largest in the world, almost 3 times the size of Japan.
1. one quarter of GNP
2. one quarter of the national income
AMERICAN ECONOMY GENERAL SURVEY
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Inflation Inflation is a general rise in the prices of goods ad
services, the real or purchasing power value of money is reduced. E.g. Three dollars are necessary today to buy what two dollars bought yesterday.
AMERICAN ECONOMY GENERAL SURVEY
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American economy is deficit financing.
1. $23 billion during WWⅠ
2. $13 billion more during the 1930s 3. $200 billion more during WWⅡ
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structure of the employees 1. self-employed (75%) 2. government workers (21%) 3. employees of nonprofit organizations (4%)
AMERICAN ECONOMY GENERAL SURVEY