I. 18th Century



Yüklə 3,44 Mb.
tarix15.08.2018
ölçüsü3,44 Mb.
#62829



  • I. 18th Century

  • Economic reasons for the

  • War of Independence

  • (1775-1783)

  • Agriculture as the main economic activity

  •  



 

  •  

  • The Industrial Revolution and development of a modern economy

  •  

  • How can we explain the tremendous growth

  • of the US economy since the early 19th century?

  • 1 6 The free-enterprise system (Adam Smith)

  • 2 7

  • 3 8

  • 4 9

  • 5 10

  •  



  • Focus on opportunity to succeed through:

  • 1.

  • 2.

  • 3.

  • 4.



Poor immigrant from Scotland

    • Poor immigrant from Scotland
    • From factory worker to one of
    • the richest men in the world
    • Founded a steel company,
    • consolidated the steel industry
    • A philanthropist


  • Development of corporations

  • Why did corporations replace many family businesses and partnerships in the US?

  • How did the giant corporations develop?

  • Consolidation in major industries: oil, steel, railroads

  •  



  • To what extent did the US government intervene in the economy in the 20th century? 

  • 1. Early 20th century

    • Tariffs
    • Trust busting
    • 1913: The Federal Reserve (The Fed)


  • 2. The Roaring 20s

  • 3. The crash in October 1929

    • Why?
  • 4.The Depression of the 1930s

    • 25% unemployment, extreme poverty


  • 5. The New Deal

    • The election of Franklin D. Roosevelt in 1932
      • Creating jobs
      • Social Security
      • Regulation of finance
    • The three Rs:
      • Relief
      • Recovery
      • Reform


  • Roosevelt was influenced by a new economic theory: A managed economy

  • John Keynes:

  • The General Theory of

  • Employment, Interest

  • and Money (1937)



  • 6. World War II

    • Government control of large parts of the economy
    • Full employment
    • Consensus
  •  

  • 7. The Post-War Period

  • How has Big Business profited from co- operation with the US government?

  •  



  • Major growth of the US economy from 1945-1970

  • World economic dominance

  • Sustained growth in the 50s and 60s

  • Consolidation in the 60s



  • Mid-1970s: Stagflation and recession

  •  

  • New economic theory: Monetarism

  • Milton Friedman – the ”Chicago school” of economics

  • ”Supply-side” economic theory (1970s/80s)

  •  





  • Continued shift in the workforce from manufacturing to services and high-tech.

  • Declining number of workers, but increased production and efficiency.

  • Development of conglomerates and multinationals.



From being the world’s biggest creditor the US became the biggest debtor.

  • From being the world’s biggest creditor the US became the biggest debtor.

  • Foreign investment inside the USA became greater than US investment abroad.

  • Deregulation: fewer restrictions and less government intervention 

  • 1987: Stock market crash.

  • World recession



  • 1990 - 1992: Recession. George Bush Sr. Signs of recovery at the end of his term.

  • 1993 - 2000: Growth. Boom.

  • Bill Clinton.

  • Eight years of uninterrupted

  • growth. Signs of decline at the end of his term.



 

  •  

  • 2000/2001: "The new economy” (dot.com shares)

  • "A bubble economy”?

  • The IT bubble burst:

  • Prices of IT shares dropped dramatically

  • A major slowdown of the US economy

  • Sectors of the economy sliding into recession

  •  



  • September 11th 2001

  • 2002 - early 2003: Signs of recovery, but

  • sluggish

  • 2003 - 2007: Relative growth (GDP: 2.6% in 2007), stability and relatively low unemployment (4.7% in 2007).

  •  



  • 2008 – 2009: Financial crisis. Recession

  • 2009 - 2013: Slow recovery

  • 2014: 2.5% growth, but economic

  • data difficult to interpret.

  • 2015: Better than it looks?



Yüklə 3,44 Mb.

Dostları ilə paylaş:




Verilənlər bazası müəlliflik hüququ ilə müdafiə olunur ©genderi.org 2024
rəhbərliyinə müraciət

    Ana səhifə