United States Economy Research Paper Example | Topics and Well Written Essays - 1500 words

United States Economy - Research Paper Example Introduction: History of the economy of United States We are going to go aboard on a journey to look at the economy of United States. This inquisitiveness will lead us to scrutinize the economy’s operations, structures, and performance at a given time and its changes over time. We are going to look at the industries that have become additionally important in the United State economy and how the government is taking over the share of the nation’s output. The growth of people’s income, the distribution of people’s income among many more will be addressed. For a long time, the key to United States economy had been southern agriculture. But the civil war which began in April 1861 nearly destroyed everything. However, the country came out of the war with economic tools to put up the strongest economy in the world. Within 30 years, the United States led the whole world in manufacturing. After 80 years, it contained half of the world’s industry. From 1871 to 1890, United States experienced the second industrial revolution. These are social and economic changes that result from wide use of machines in production. Inventions made work easier and safer and this created the whole industry. Factories started operating using mass production and all this led to growth of the economy. Between 1861 and 1941, the economy of United States had risen from boom to bust. This was a period between the civil war and II world war. In the foremost or subsequent decade, the United States economic market growth took place in an environment where policies set by regulators were dramatically changing and conditions in the market were unstable (Garcia, 2011). This... For a long time, the key to United States economy had been southern agriculture. But the civil war which began in April 1861 nearly destroyed everything. However, the country came out of the war with economic tools to put up the strongest economy in the world. Within 30 years, the United States led the whole world in manufacturing. After 80 years, it contained half of the world’s industry. From 1871 to 1890, United States experienced the second industrial revolution. These are social and economic changes that result from wide use of machines in production. Inventions made work easier and safer and this created the whole industry. Factories started operating using mass production and all this led to growth of the economy. Between 1861 and 1941, the economy of United States had risen from boom to bust. This was a period between the civil war and II world war. In the foremost or subsequent decade, the United States economic market growth took place in an environment where policies set by regulators were dramatically changing and conditions in the market were unstable (Garcia, 2011). This resulted to disappointing and volatile profitability of financial sector. Financial sector recorded 1.5 percent of Gross Domestic Product from 1960 to 1970s but after wards reduced to 1 percent in 1980s. In 1990s, the Gross Domestic Product began to rise and within ten years, it was up to 3 percent.