A Peoples History of America
Not the way you learned it in school

Economic History Of America

The economic history of America is divided into four main segments: Colonial Times, The Great Depression, Post-War Recovery and the Period of Great Prosperity. America sample The economic history of America is a part of our nation's rich historic heritage and we must study it well in order to appreciate the changes it brought to the world. From its origins as a small confederacy in the 16th century, the U.S. has built an economic system which is the most developed and richest in human history. Understanding the economy of America is an indispensable part of understanding the world. For instance, in this article we will look at four characteristics of the American economy that are important to know. Economic development is a broad subject but there are many aspects that affect the overall economic development of a country or even a city or a region. Let us take one of these aspects as an example. The first aspect that should be mentioned is the Colonial Period. This period marked the birth of United States as a nation. During this time period, the economy of the country was highly influenced by European experience. Economic history of America covers the four phases of colonizers experience in America: the pre-colonial period, the period of Great Wealth, the Colonial Period, and the post-colonial period. America description The second aspect is the Great Depression. The Great Depression is known as the worst economic disaster in the history of United States. It marked the end of Great World's prosperity as the country experienced low economic growth and rapid decline in the industrial sector. As a result, urbanization and urban living became a key feature of economic history of America. In addition, the country went through a serious breakdown in infrastructure and there was a great lack of basic amenities. The Post-Colonial period is the period when the country went through a profound economic development. During this stage, Americans experienced the highest level of economic prosperity not only in the history of United States but also in the world. The main reason for this achievement is the development of internal economy through the creation of national banks and national commerce. Moreover, there was a greater involvement of labor in economic activities at this stage which further augmented the level of economic activity. The Post-War period is considered to be a golden age in American economic history. During this stage, the country experienced a rapid growth in all sectors of economy. History illustration The industrial revolution saw the introduction of trucking companies and huge machineries which transformed the country's economy. At the same time, a more liberal trade policy was introduced which facilitated international investments. In addition, with the ending of the World War II, America was able to draw a lot of foreign money and use it to boost its economy. Furthermore, fiscal easing helped in reducing inflation and keeping interest rates moderate. Another important historical phase is the Great Depression, which affected the economy of the United States seriously. Though the United States emerged out of this economic condition relatively unscathed, the Depression had a devastating effect on the economy. As unemployment and dislocation increased, inflation also shot up and prompted several laws to be revised to control inflation. Major financial institutions across the country were taken over by government funds and they started functioning as per the new rules and regulations. The end of the Great Depression saw a significant stabilization of the economy of the nation. The post-war era saw the emergence of a brand new economic regime, which was led by President Harry Truman. This was the age of a stable and prosperous economy and marked the beginning of a new era of economic growth, which continues till this day in America. Economic History of America can thus be said to have four stages - pre-war, war, depression and post-war.