Foreign Language Teaching and Research Press
7
1. The Colonial Period
❖Massachusetts—settled by Pilgrims to escape religious persecution
❖Other colonies—like Virginia and Pennsylvania, founded as business ventures
▪ 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
9
1. The Colonial Period
❖English investors turned over colonial charters to the settlers.
▪ enormous political implications
• anti-trust laws
Foreign Language Teaching and Research Press
5
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.
▪ 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
➢ How did the Civil War affect the American economy?
➢ Why does America try to reduce trade barriers?
Foreign Language Teaching and Research Press
3
Contents Ⅰ General Introduction Ⅱ History of American Economy Ⅲ Current American Economy
Foreign Language Teaching and Research Press
4
Ⅰ General Introduction
❖US—the current industrial, economic and technological giant
▪ ranking first in computer technology, space technology, nuclear energy, and electronics, etc.;
The United States of America
1
The United States of America
Chapterivities
Think about these questions before we start:
➢ What industrial developments took place during the colonial period of America?
❖“Consumer economy”
Foreign Language Teaching and Research Press
6
Ⅱ History of American Economy
1 The Colonial Period 2 Since American Independence
3 The 20th Century
▪ small iron forges (冶炼厂)
Foreign Language Teaching and Research Press
11
1. The Colonial Period
Gristmill
Iron forge
Foreign Language Teaching and Research Press
10
1. The Colonial Period
❖Secondary industries (二级产业)
▪ appearance of sawmills (锯木场) and gristmills (磨房)
▪ shipyards—building fishing fleets and trading vessels
▪ Colonists were left to build their own lives, communities, and economy, that is, to construct their new nation
Foreign Language Teaching and Research Press
Foreign Language Teaching and Research Press
8
1. The Colonial Period
Mayflower, the ship that carried the Pilgrims from England to Plymouth, Massachusetts, where they established the first permanent New England colony in 1620.