In A.D. 1492, Christopher Columbus set sail under the sponsorship of the Spanish royal family to find a new channel to Asia, but unexpectedly discovered the "New World". In the next hundred years, explorers from Britain, Spain, Portugal, France and the Netherlands came to the New World to seek wealth and glory and preach religion. However, the wasteland in North America didn't bring a lot of gold and glory to these explorers at first, so many of them quit the business one after another. In a real sense, a group of people who first established colonies in North America later crossed the ocean and came to the New World. 1607, a small group of British colonists established Britain's first permanent colony in North America in Jamestown, Virginia. Cartoons during the American Revolutionary War show that the United States is sawing off the horn of a cow (symbolizing the breakdown of commercial relations with Britain), a distressed Englishman is watching, and other European powers are waiting for milking. This cartoon depicts the economic situation during the American War of Independence.
Early immigrants came to America for many different reasons. The Puritans in Massachusetts wanted to create a pure religion in New England. Other immigrants, such as Virginia, are mainly for business speculation. Britain successfully expanded its colonies and later became the United States because of the extensive use of licensed companies. Franchise companies are composed of a group of shareholders (usually businessmen and wealthy farmers) who pursue personal economic interests and sometimes serve British national interests. Although they are privately owned financial companies, the King of England has granted charters or economic privileges as well as political and judicial licenses for each project. Colonies usually don't see returns in the short term, but British investors will transfer their concessions to local residents. The political impact of this is far-reaching, although few people noticed it at that time. Colonies began to establish their own livelihoods, communities and independent economies.
The early prosperity of the colony was attributed to the fur trade, but in the colony, people mainly lived on self-sufficient small farms. In several small cities and large plantations in South Carolina and Virginia, some necessities and almost all luxuries are exchanged by exporting tobacco, rice and indigo.
With the expansion of the colony and the continuous development of supporting industries, various special sawing machines and mills began to appear. Colonial residents began to build shipyards, as well as fishing fleets and merchant ships. They also set up small smelters. In the18th century, the local development model gradually became clear: New England colonists accumulated wealth by shipbuilding and shipping; Plantations in Maryland, Virginia, South Carolina and North Carolina (many of which use slaves) mainly grow tobacco, rice and indigo; The central colonies such as new york, Pennsylvania, New Jersey and Delaware were mainly engaged in the transportation of crops and furs. During this period, except for slaves, the living standards of colonial residents were getting better and better, even surpassing that of Britain. Due to the departure of British investors, this land began to open to colonial entrepreneurs.
From James I (1603–1625), it was controlled by British North American colonies. 1770, ready to join the new autonomy movement in both political and economic aspects. The quarrel with Britain first appeared in tax and other aspects; Americans hope to revise taxes and laws to meet their demands for autonomy, but some people believe that more and more quarrels will eventually lead to a war against British rule and seek colonial independence.
The rising middle class borrowed a sentence from Locke's "Re-writing the Official Government" as a slogan: "Life, freedom and property are inalienable rights". The middle class firmly supported the American revolution politically and economically, just as it did in the political turmoil in Britain in the17th century.
Although political division may not be the original purpose of colonial residents, independence and the creation of a new country, the United States, have become the final result of things. The American Constitution of 1789 determines that there is no tariff on interstate commerce, and the whole country is a unified whole. In the discussion of the scope of federal rights, alexander hamilton, the first US Treasury Secretary, held a very loose definition. Hamilton established a strong national credit by using national debt, which was held by aristocrats (because aristocrats were driven by interests and kept the country healthy), and was guaranteed by import tariffs. Hamilton believes that the country can achieve economic growth through diversified investment in shipping, manufacturing and banking. He proposed to levy protective tariffs to pay for government expenses, but farmers in the west were dissatisfied with the government's whisky tax. 179 1 was chartered by congress to establish the first bank of the United States, and the validity period is 18 1 1.
Thomas Jefferson and james madison opposed the establishment of a totalitarian central government (and correspondingly opposed most of Hamilton's economic policies), but they could not stop Hamilton, because Hamilton had great power and political influence in Washington administration at that time. 180 1 year, after Jefferson was elected president, he began to implement decentralized land democracy, which was called Jefferson-style democracy. The idea is to protect ordinary people from political and economic tyranny. He praised small farmers as "the most valuable citizens". After him, President Madison let the bank charter expire at 18 1 1, but after the American economy went downhill, the second American bank was established at 18 16. At first, cotton was only planted on a small scale in the south. Later, because Eli Whitney invented the cotton gin, raw cotton could be separated from seeds and other wastes. So cotton was planted on a large scale. As a result of cotton planting, some large plantations using slaves made some families very rich.
Tens of millions of immigrants moved to the more fertile midwest of the United States. Officially established national highways and waterways, such as Cumberland Avenue and Erie Canal, have helped a large number of immigrants migrate to the west and transported a large number of agricultural products to the market. Liberals support Clay's American system and advocate internal improvement (roads, canals, ports) to protect industry and establish a strong national bank. However, the liberal legislative process was blocked by the Democratic Party.
President andrew jackson (1829 to 1837) opposed the Second Bank of the United States because he believed that the Second Bank of the United States was beneficial to the vested interests of his enemies. During Jackson's second term as president of the United States, he refused to restore the franchise of the bank and won the support of Congress. Jackson opposed the use of paper money and demanded that gold and silver coins be paid to the government. The panic of 1837 stopped economic growth for three years.
Railway is one of the important contributions to economic growth. There are many different views on whether the railway is "essential", but there is no doubt that the railway is very important. Railway paves the way for the new development of large-scale commercial operation and creates a blueprint for future business. The first thing they encounter is the complexity of management, trade union problems and competition problems. Because of these radical innovations, the railway became the first large-scale commercial enterprise.
Panic did not have much impact on the United States, which experienced rapid economic growth in the19th century. For the population growth in the United States, the rapid development of farms and industries is quite stable. With the improvement of traffic construction and the continuous expansion of new markets; New inventions and capital investment still drive the economic engine of the United States. The invention of steamboat made shipping more convenient and cheaper. But the impact of railway development is more comprehensive. Different from other transportation, the railway has received a lot of support from the government during its development, such as land acquisition, road opening and tunnel engineering. And got a lot of private funds from the public and some European companies.
Some people get rich overnight, but most people lose their life savings. However, foresight and overseas funds, coupled with the discovery of gold and the commitment to American public interest and private wealth, enabled this country to develop a large-scale railway transportation system and laid the foundation for future industrialization. Table 1: American railway mileage (by region in the United States)18501860187018801890 New England 2,507 3,660 4,494 5 70510 96415 872 21536 Southern states 2 036 8 838119214 778 29 209 Western states. 27611.400 24 587 52 589 62 394 Pacific coast states and regions 23 1.677 4 080 9 804 America 9 02 1 30 626 52 965438+. 30 1 129 774 source: chauncey m depe (editor. ), a happy American business year1795–189511p. 65438+.
By the middle of19th century, although the maritime trade channel was still dominated by gunboat diplomacy of the Royal Navy, the purchasing power level of the United States had surpassed that of Russia and Prussia, and was almost equal to that of France or India.
By 1860, when abraham lincoln was president, 16% of the American population lived in cities, and one third of the country's income came from manufacturing. Urban industry was initially limited to the northeast; Cotton production occupies a primary position, and shoemaking, wool spinning and machinery manufacturing are also expanding. Many new workers are immigrants. From 1845 to 1955, about 300,000 European immigrants come to the United States every year. Many of them are poor and stay in the eastern cities, and they are often newly arrived port cities. On the other hand, the southern United States, which is still an agricultural area, depends on the north in terms of capital and manufactured goods. The economic interests of the south, including the preservation of slavery, can only be protected by political forces on the premise that the south controls the federal government. 1856 The * * * and Party established represent the industrialized north. From 65438 to 0860, the Republican Party and their presidential candidate abraham lincoln held a wait-and-see attitude on the issue of slavery, but they were much more determined in economic policy. 186 1 year, they successfully introduced a protective tariff policy. 1862, the first train line along the Pacific coast was chartered. 1863, a nationwide banking system was established to provide funds for the American civil war. Every city has established the "First National Bank", some of which still exist today.
The advantage of the North over the South in industrialization ensured its victory in the American Civil War (1861–1865). The victory in the North determines the future of the United States and its economic system. The abolition of slavery caused the income of cotton plantations in the south to drop sharply. The northern industry, which expanded rapidly during the war and after the war, continued to develop rapidly. Industrialization has gradually dominated all areas of American life, including social and political fields. The aristocratic rule of the southern planters was over.
The southern part of the United States has suffered great destruction, followed by the entanglement of poverty. During the reconstruction period, railway construction received a lot of subsidies (corruption was also very serious), but the southern region maintained the independence of cotton production. Once he became a slave, he became a hired laborer or a tenant farmer. As the population growth exceeds the speed of economic development, many poor white people have joined the ranks of hiring workers. By 1940, the textile mills in Carolina and the steel enterprises in Alabama had become a few manufacturing industries that played an important role. The rapid development of American economy after the end of the Civil War laid the foundation of American modern industry. /kloc-in the 1980s, the United States surpassed Britain to become the most economically developed country.
Traditionally, most American government leaders are reluctant to let the federal government interfere too much in private enterprises, except the transportation sector. Generally speaking, they recognize the concept of laissez-faire, oppose government intervention in the economy, and think that government intervention in the economy is limited to law enforcement and maintaining order. In the late19th century, this attitude began to change when small businesses, farms and labor movements asked the government to intervene for them. 1The Wall Street crash that happened in June, 929 was perhaps the biggest disaster that the financial sector suffered. During the Great Crisis, the American stock market plummeted, a large number of enterprises went bankrupt, the number of unemployed people increased greatly, banks closed down and production continued to decline. This economic depression began with the decline of agricultural product prices: first, it occurred in the price of wood (1928), mainly because of the wood competition in the Soviet Union [source request]; But the bigger disaster is still in 1929. Canada has overproduced wheat, and the United States has forced the prices of basic grains in all agricultural producing areas to fall. Whether in Europe, the United States or Australia, the agricultural recession has been further aggravated by the financial collapse. Especially in the United States, a speculative fever led to a large number of funds leaving Europe, followed by the panic of the Wall Street stock market 1929 and 10. During the whole decade, the unemployment rate in the United States exceeded 20%.
It was in this situation that franklin roosevelt replaced the embattled Hoover and was elected as the 32nd President of the United States. In view of the reality at that time and in line with the wishes of the broad masses of people, he implemented a series of policies and measures aimed at overcoming the crisis, which was called the "New Deal" in history. The main contents of the New Deal can be summarized by "three Rs", namely, revival, relief and reform. Because the Great Depression was triggered by a financial crisis triggered by crazy speculation. President Roosevelt's New Deal also began with the consolidation of finance. Another important content of the New Deal is relief work. Table 2: Great Depression Data19291931933193719381940 Real Gross Domestic Product (GNP). 101.484.368.3103.9103.7113.0 Consumer Price Index (CPI). 122.5108.7 92.4102.7 99.4100.2 industrial production index109 75691kloc-0/289/kloc-. 46.6 42.7 32.2 45.7 49.3 55.2 Exports (one billion US dollars) 5.24 2.421.67 3.35 3.18 4.02 Unemployment rate 3.1125.213. Automakers began to build planes and tanks, turning the United States into a "democratic arsenal." With the increase of national income and the scarcity of consumer goods, the government has established a price management bureau to prevent inflation. The price administration mainly controls rents in some areas and some common consumer goods, such as sugar and oil; In order to control the price increase.
From 65438 to the early 1940s, the United States successfully got rid of the shadow of the Great Depression and benefited from the influence of World War II. However, some political critics said that franklin roosevelt's social democratic policies also contributed to this, but criticized Roosevelt's policies, which hindered the economic recovery and even made the situation worse. But at least part of the reason for the economic recovery lies in its self-recovery characteristics; The Great Depression is the sixth recession in American history.
6 million women began to participate in manufacturing; Most of these temporary jobs are making ammunition. They partially replaced men in the army. These women workers are abstracted into characters in the novel, female riveters. After the war, many women stopped working and went home as men returned home. But the precedent of using female workers in World War II paved the way for women to join the American workforce in the future. The second world war to1970s was the golden age of American capitalism. Wall Street enjoyed the longest bull market in postwar history, and the stock market rose from 1949 to 1957 almost without any resistance. The American government's policy of participating in social welfare and Eisenhower's military-industrial complex have continued to this day.
From 1975 to 1979, the unemployment rate declined steadily on the whole, but soon began to rise abruptly.
Reagan's economic policy is supply economics, which is called Reagan economics. It reduced income tax by 25%, lowered inflation, lowered interest rate, expanded military expenditure, increased government deficit and national debt, eliminated loopholes in tax rules, and continued to relax control over business activities, which made the American economy experience a sharp recession of 65,438+0-65,438+0,982. He has always stressed that he is skeptical about the ability of the federal government to deal with problems, especially on economic issues. His solution is to cancel government intervention, reduce tax rates, deregulate and let the free market mechanism automatically correct the problems it faces.
On the day of his inauguration, he said: "The government is not the solution to the problem, but the government itself is the problem." As a contemporary famous saying, almost all the supporters of * * * and the Party believe that Reagan economics is the key to get rid of the economic recession in the early 1980s and finally defeat the Soviet Union. Democrats couldn't refute it at the time. It was not until the financial tsunami broke out in 2 1 century that Reagan's economics was questioned worldwide. They thought that the recession in the early 1980s was only the sequela of excessive interest rate rise to absorb the capital flowing out of the market, and only by lowering interest rates could the economy recover its true colors, which had nothing to do with Reagan's economy. Japan's bubble burst in the 1990s, the Soviet Union disintegrated, and the United States won the Cold War and the first Gulf War. National debt increased by 75%, GDP increased by 69%, and the S&P 500 index more than tripled. 1994-2000, the technological innovation and real output growth of computer revolution, accompanied by moderate inflation and unemployment rate below 5%, accompanied by the rise of emerging economies, provided a large number of cheap products to stimulate American consumption, followed by the stock market skyrocketing and Internet boom. Compared with 1997 Asian financial turmoil, the rise of the United States is clear.
In the late 1990s, the hot spots in the market were high-tech initial public offerings and Internet companies. However, in 2000, the valuation of Internet bubble stocks collapsed. From March 2000, the market began to release the growth of about 50% to 75% in the 1990s. The economy deteriorated in 200 1 year, and the national output only increased by 0.3%. However, both the unemployment rate and the number of bankruptcies rose sharply, which led to the recession at the beginning of 2 1 century. However, some people often blame this recession on 9 1 1 terrorist attacks.