Foreign Language Teaching and Research Press
1. The Colonial Period
❖Disputes over taxation and other matters with Britain:
▪ Americans—modification (减轻) of taxes and regulations; demand for more self-government
• anti-trust laws
Foreign Language Teaching and Research Press
Ⅰ General Introduction
❖Private businesses produce most goods and services.
▪ Two thirds of the output goes to individuals; ▪ One third is bought by government and business.
Cotton cloth production was the leading industry; Urbanized industry—limited to the Northeast; Immigrant workers
• Between 1845 and 1855, some 300, 000 European immigrants arrived annually.rch Press
2. Since American Independence
Urban Industrialization
❖President Jackson opposed to Hamilton’s national bank.
❖When elected for a second term, Jackson opposed renewing the bank’s charter.
❖Businesses panicked in both 1834 and 1837.
▪ 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 post offices and roads, and fix rules governing patents (专利权、专利品) and copyrights. ▪ “intellectual property”
Foreign Language Teaching and Research Press
Ⅰ General Introduction
❖US—the current industrial, economic and technological giant
▪ ranking first in computer technology, space technology, nuclear energy, and electronics, etc.;
▪ Colonists were left to build their own lives, communities, and economy, that is, to construct their new nation
Foreign Language Teaching and Research Press
▪ Mounting quarrel—leading to war against the British and to independence for the colonies
❖American Revolution: bolstered (支持、支撑) by an emerging middle class
The United States of America
The United States of America
Chapter 11
Economy
Warming-up Activities
Think about these questions before we start:
➢ What industrial developments took place during the colonial period of America?
▪ rallying cry—“inalienable rights to life, liberty, and property”
Foreign Language Teaching and Research Press
2. Since American Independence
❖U.S. Constitution established the nation as a unified market.
❖“Consumer economy”
Foreign Language Teaching and Research Press
Ⅱ History of American Economy 1 The Colonial Period 2 Since American Independence 3 The 20th Century
Foreign Language Teaching and Research Press
1. The Colonial Period
❖English investors turned over colonial charters to the settlers.
▪ enormous political implications
Foreign Language Teaching and Research Press
2. Since American Independence
❖Alexander Hamilton’s economic development
strategy
▪ nurture infant industries
Foreign Language Teaching and Research Press
2. Since American Independence
❖The Industrial Revolution
By 1860, one third of the nation’s income came from manufacturing;
▪ contribution to England’s colonizing process of the would-be United States
▪ charter companies ▪ King provided a charter or grant conferring
economic rights as well as political and judicial authority
▪ small iron forges (冶炼厂)
Foreign Language Teaching and Research Press
1. The Colonial Period
Gristmill
Iron forge
Foreign Language Teaching and Research Press
➢ How did the Civil War affect the American economy?
➢ Why does America try to reduce trade barriers?
Foreign Language Teaching and Research Press
Contents Ⅰ General Introduction Ⅱ History of American Economy Ⅲ Current American Economy
and indigo (靛蓝属植物); ▪ New York, Pennsylvania, New Jersey and
Delaware—shipped crops and furs; ▪ The field was open for entrepreneurs (企业家、
创业者) among the colonists to establish themselves.
▪ producing a major portion of the world’s machinery, automobiles, oil, electrical energy, and chemicals.
❖Mixed economy
▪ emphasizing private ownership ▪ federal government—regulating businesses
Foreign Language Teaching and Research Press
1. The Colonial Period
❖Massachusetts—settled by Pilgrims to escape religious persecution
❖Other colonies—like Virginia and Pennsylvania, founded as business ventures
Foreign Language Teaching and Research Press
1. The Colonial Period