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- Key events, themes, and legacies of America's economic history from colonial America to present day. Topics include agriculture, banking & monetary policy, demography, health & disease, immigration, innovation & patents, the labor force, manufacturing, and urbanization.
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The economic history of the United States is about characteristics of and important developments in the economy of the U.S., from the colonial era to the present. The emphasis is on productivity and economic performance and how the economy was affected by new technologies, the change of size in economic sectors and the effects of legislation ...
It is not what we have that will make us a great nation; it is the way in which we use it. — Theodore Roosevelt, 1886. The workings of the U.S. economy are complex and often mysterious, even to economists. At its simplest, the economy runs on three major sectors: consumers, businesses, and government. (See Figure 1.1.)
Summary. The economy of territory that became the United States evolved dramatically from ca. 1000 ce to 1776. Before Europeans arrived, the spread of maize agriculture shifted economic practices in Indigenous communities. The arrival of Europeans, starting with the Spanish in the West Indies in 1492, brought wide-ranging change, including the ...
Apr 16, 2024 · Role of economics in U.S. history since 1776. Includes figures, events, policies, and organizations. The American Economy: a Historical Encyclopedia. Accounting scandals of the early 2000s and the 2008 recession, including the government stimulus and bailout programs, and effect of the recession on key markets.
- Susan (Sue) Widmer
- 2012
- Overview
- Explore the social, economic, and political history of the United States
United States, officially United States of America, Country, North America. It comprises 48 conterminous states occupying the mid-continent, Alaska at the northwestern extreme of North America, and the island state of Hawaii in the mid-Pacific Ocean. Area, including inland water area and the U.S. share of the Great Lakes: 3,797,173 sq mi (9,834,633 sq km). Population: (2024 est.) 341,963,000. Capital: Washington, D.C. The population includes people of European and Middle Eastern ancestry, African Americans, Hispanics, Asians, Pacific Islanders, American Indians (Native Americans), and Alaska Natives. Languages: English (predominant), Spanish. Religions: Christianity (Protestant, Roman Catholic, other Christians, Eastern Orthodox); also Judaism, Islam, Buddhism, Hinduism. Currency: U.S. dollar. The country encompasses mountains, plains, lowlands, and deserts. Mountain ranges include the Appalachians, Ozarks, Rockies, Cascades, and Sierra Nevada. The lowest point is Death Valley, Calif. The highest point is Alaska’s Denali (Mount McKinley); within the conterminous states it is Mount Whitney in California. Chief rivers are the Mississippi system, the Colorado, the Columbia, and the Rio Grande. The Great Lakes, the Great Salt Lake, Iliamna Lake, and Lake Okeechobee are the largest lakes. The U.S. is among the world’s leading producers of several minerals, including copper, silver, zinc, gold, coal, petroleum, and natural gas; it is the chief exporter of food. Its manufactures include iron and steel, chemicals, electronic equipment, motor vehicles, computers, and textiles. Other important industries are tourism, dairying, livestock raising, fishing, and lumbering. The U.S. is a federal republic with two legislative houses; its head of state and government is the president.
The territory was originally inhabited for several thousand years by numerous American Indian peoples who had probably migrated from Asia. European exploration and settlement from the 16th century began displacement of the Indians. The first permanent European settlement, by the Spanish, was at Saint Augustine, Fla., in 1565. The English settled Jamestown, Va. (1607); Plymouth, Mass. (1620); Maryland (1634); and Pennsylvania (1681). The English took New York, New Jersey, and Delaware from the Dutch in 1664, a year after English noblemen had begun to colonize the Carolinas. The British defeat of the French in 1763 in the French and Indian War ensured Britain political control over its 13 colonies. Political unrest caused by British colonial policy culminated in the American Revolution (1775–83) and the Declaration of Independence (1776). The U.S. was first organized under the Articles of Confederation (1781), then finally under the Constitution (1787) as a federal republic. Boundaries extended west to the Mississippi River, excluding Spanish Florida. Land acquired from France by the Louisiana Purchase (1803) nearly doubled the country’s territory. The U.S. fought the War of 1812 against the British and acquired Florida from Spain in 1819. In 1830 it legalized the removal of American Indians to lands west of the Mississippi River. Settlement expanded into the Far West in the mid-19th century, especially after the discovery of gold in California in 1848 sparked a gold rush there. Victory in the Mexican War (1846–48) brought the territory of seven more future states (including California and Texas) into U.S. hands. The northwestern boundary was established by treaty with Britain in 1846. The U.S. acquired southern Arizona by the Gadsden Purchase (1853). It suffered disunity during the conflict between the slavery-based plantation economy in the South and the industrial and agricultural economy in the North, culminating in the American Civil War (1861–65) and the abolition of slavery under the 13th Amendment. After Reconstruction (1865–77) the U.S. experienced rapid growth, urbanization, industrial development, and heightened European immigration. In 1887 it authorized allotment of American Indian reservation land to individual tribespeople, resulting in widespread loss of land to whites. Victory in the Spanish-American War brought the U.S. the overseas territories of the Philippines, Guam, and Puerto Rico. By the end of the 19th century, it had further developed foreign trade and acquired other outlying territories, including Alaska, Midway Island, the Hawaiian Islands, Wake Island, American Samoa, and the Panama Canal Zone.
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The economic history of the United States began with British settlements along the Eastern seaboard in the 17th and 18th centuries. After 1700, the United States gained population rapidly, and imports as well as exports grew along with it.
Jun 2, 2021 · From commerce to chaos: An economic history of the United States. Review by Steven Pearlstein. June 4, 2021 at 8:00 a.m. EDT.
