美国社会与文化58Word下载.docx

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Colonialera

TheUnitedStateshasitseconomicrootsinEuropeansettlementsinthe16th,17th,and18thcenturies.TheAmericancolonieswentfrommarginallysuccessfulcolonialeconomiestoasmall,independentfarmingeconomy,whichin1776becametheUnitedStatesofAmerica.

Expansionandgrowth

Duringthisperiod,millionsmovedtothemorefertilefarmlandoftheMidwest.RailroadsmadeadecisiveimpactontheU.S.economy,makingpossiblethetransitiontoanurbanindustrialnationwithhighfinanceandadvancedmanagerialskills.Duringthe19thcentury,acombinationofvisionandforeigninvestment,combinedwiththediscoveryofgoldandamajorcommitmentofAmerica'

spublicandprivatewealth,enabledthenationtodevelopalarge-scalerailroadsystem,establishingthebaseforthecountry'

sindustrialization.

CivilWarandReconstruction:

1860s

TheindustrialadvantagesoftheNorthovertheSouthhelpedsecureaNorthernvictoryintheAmericanCivilWar（1861–1865）.Northernindustry,whichhadexpandedrapidlybeforeandduringthewar,surgedahead.Industrialistscametodominatemanyaspectsofthenation'

slife.

TheGildedAge:

1865–1900

TherapideconomicdevelopmentfollowingtheCivilWarlaidthegroundworkforthemodernU.S.industrialeconomy.By1890,theUSAhadovertakenthelevelofgrossmanufacturingoutputoftheUnitedKingdom.Anexplosionofnewdiscoveriesandinventionstookplace,causingsuchprofoundchangesthatsometermedtheresultsa"

SecondIndustrialRevolution."

Thetelephone,phonograph,typewriterandelectriclightwereinvented.Coal,Oil,iron,copperandsilverwerefoundandappliedinindustrialdevelopment.

Asindustrygrewlarger,itdevelopedmass-productionmethods.FrederickW.Taylorpioneeredthefieldofscientificmanagementinthelate19thcentury,carefullydevisingnew,moreefficientwaysforworkerstodotheirjobs.

The"

GildedAge"

ofthesecondhalfofthe19thcenturywastheepochoftycoons.ManyAmericanscametoidealizethesebusinessmenwhoamassedvastfinancialempires.Uniongrowthwasslowuntil1900,thengrewtoapeakduringWorldWarI.

ProgressiveEra:

1890–1920

Bytheturnofthecentury,amiddleclassfavoredgovernmentregulationofbusinesspracticestoensurecompetitionandfreeenterprise.Theserieshelpedpavethewayforthebreakupofthemonopoly.

Roaringtwenties:

1920–1929

Therapidgrowthoftheautomobileindustrystimulatedindustriessuchasoil,glass,androad-building.Smallcitiesprospered,andlargecitieshadtheirbestdecadeever.Thenewelectricpowerindustrytransformedbothbusinessandeverydaylife.However,inOctober1929,thestockmarketcrashedandbanksbegantofailintheWallStreetCrashof1929.

GreatDepression:

1929–1941

Followingthestockmarketcrash,theeconomyplungedintotheGreatDepression.By1932,theunemploymentratewas23.6%.Conditionswereworseinheavyindustry,lumbering,exportagriculture（cotton,wheat,tobacco）,andmining.Conditionswerenotquiteasbadinwhitecollarsectorsandinlightmanufacturing.FranklinDelanoRooseveltwaselectedPresidentin1932andhepatchedtogethermanyprograms,knownastheNewDeal.TheNewDealfocusedonwhathistorianscallthe3Rs:

relief,recoveryandreform.Thatis,relieffortheunemployedandpoor,recoveryoftheeconomytonormallevels,andreformofthefinancialsystemtopreventarepeatdepression.

Theeconomyeventuallyrecoveredfromthelowpointofthewinterof1932-33,,withsustainedimprovementuntil1937.

Wartimecontrols:

1941–1945

TheWarProductionBoardcoordinatedthenation'

sproductivecapabilitiessothatmilitaryprioritieswouldbemet.Convertedconsumer-productsplantsfilledmanymilitaryorders.Automakersbuilttanksandaircraft,forexample,makingtheUnitedStatesthe"

arsenalofdemocracy."

Inanefforttopreventrisingnationalincomeandscarceconsumerproductstocauseinflation,thenewlycreatedOfficeofPriceAdministrationcontrolledrentsonsomedwellings,rationedconsumeritemsrangingfromsugartogasoline,andotherwisetriedtorestrainpriceincreases.

Postwarprosperity:

1945–1973

TheperiodfromtheendofWorldWarIItotheearly1970swasagoldeneraofAmericancapitalism.

Inflationwoes:

1970s

Inthelate1960sitwasapparenttosomethatthisjuggernautofeconomicgrowthwasslowingdown,anditbegantobecomevisiblyapparentintheearly1970s.TheUnitedStatesgrewincreasinglydependentonoilimportationfromOPECafterpeakingproductionin1970,resultinginoilsupplyshocksin1973and1979.Stagflationgrippedthenation,andthegovernmentexperimentedwithwageandpricecontrolsunderPresidentNixon.

DeregulationandReaganomics:

1974–1992

ThederegulationmovementbeganwhenNixonleftoffice.MostimportantweretheremovalsofNewDealregulationsfromenergy,communications,transportationandbankingIn1981,RonaldReaganintroducedReaganomics.Thatis,fiscally-expansiveeconomicpolicies,cuttingmarginalfederalincometaxratesby25%.Inflationdroppeddramaticallyfrom13.5%annuallyin1980tojust3%annuallyin1983RealGDPbegantogrowaftercontractingin1980and1982.

TheNewEconomy:

1990sto2007

Duringthe1990s,thenationaldebtincreasedby75%,GDProseby69%,andthestockmarketgrewmorethanthree-fold.

From1994to2000realoutputincreased,inflationwasmanageableandunemploymentdroppedtobelow5%,resultinginasoaringstockmarketknownastheDot-comboom.Thesecondhalfofthe1990swascharacterizedbyHigh-techand"

dot-com"

companies.By2000,however,itwasevidentabubbleinstockvaluationshadoccurred,themarketwouldgivebacksome50%to75%ofthegrowthofthe1990s.Theeconomyworsenedin2001withoutputincreasingonly0.3%andunemploymentandbusinessfailuresrisingsubstantially,andtriggeringarecessionthatisoftenblamedontheSeptember11,2001TerroristAttacks.

Through2001to2007,thered-hothousingmarketacrosstheUnitedStatesfueledafalsesenseofsecurityregardingthestrengthoftheU.S.economy.

Ongoingfinancialcrisis

In2008aperfectstormofeconomicdisastershitthecountryandindeedtheentireworld.ThemostseriousbeganwiththecollapseofhousingbubblesinCaliforniaandFlorida,andthecollapseofhousingpricesandtheconstructionindustries.Millionsofmortgages（averagingabout$200,000each）hadbeenbundledintosecuritiescalledcollateralizeddebtobligationsthatwereresoldworldwide.Manybanksandhedgefundshadborrowedhundredsofbillionsofdollarstobuythesesecurities,whichwerenow"

toxic"

becausetheirvaluewasunknownandnoonewantedtobuythem.

AseriesofthelargestbanksintheU.S.andEuropecollapsed,somewentbankrupt,suchasLehmanBrothers.Congressvoted$700billioninbailoutmoneyandanactivistTreasuryandFederalReserve,committedtrillionsofdollarstoshoringupthefinancialsystem,butthemeasuresdidnotreversethedeclines.Banksdrasticallytightenedtheirlendingpolicies,despiteinfusionsoffederalmoney.Itbecamemuchhardertogetcarloans,forexample.Thegovernmentforthefirsttimetookmajorownershippositionsinthelargestbanks.Thestockmarketplunged40%,wipingouttensoftrillionsofdollarsinwealth;

housingpricesfell20%nationwidewipingouttrillionsmore.Bylate2008distresswasspreadingbeyondthefinancialandhousingsectors,especiallyasthe"

BigThree"

oftheautomobileindustry（GeneralMotors,FordandChrysler）wereonthevergeofbankruptcy.

PresidentBarackObamasignedtheAmericanRecoveryandReinvestmentActof2009inFebruary2009;

thebillprovides$787billioninstimulusthroughacombinationofspendingandtaxcuts.TheplanislargelybasedontheKeynesiantheorythatgovernmentspendingshouldoffsetthefallinprivatespendingduringaneconomicdownturn;

otherwisethefallinprivatespendingmayperpetuateitselfandproductiv