The Development of the U.S. Economy

Paper Summary:

The paper explores the early forms of the U.S. economy, industrialization, the Great Depression, World War II and the dot-com bubble of the 1990s. The paper explains the various factors that have affected the way the economy operates today.

From the Paper:

"The very earliest economy in the U.S. was started in the early1600s where the first permanent settlement was founded, Jamestown. The people of this time were very self-sufficient. The colonists operated their own farms, and many were in the fur trade or fishing business. Some of the large plantation owners were able to export some of their goods in order to get things like tobacco, rice, and indigo (blue dye).
"As the colonies grew into the 18th century, so did the economy. This was a time of great prosperity for these colonists who in fact were entrepreneurs. During this period of U.S. history, we began to see a lot of sawmills and shipyards develop. We also saw the development of iron forges. This time period saw the standard of living of the colonists actually become greater than the standard of living of England itself ( http://usinfo.state.gov/products/pubs/oecon/chap3.htm)."

Sample of Sources Used:

• "Great Depression in the United States." MSN Encarta Online Encyclopedia. 1993-2007. Microsoft Corporation. <http://encarta.msn. com/encyclopedia_761584403/GreatDepression_in_the_United_States.html
• "Industrial Revolution." MSN Encarta Online Encyclopedia. 2007. Microsoft Corporation. <http://encarta.msn. com/encyclopedia_761577952_5/Industrial_Revolution.html>.
• "IRWeb: Information Page." Think Quest, Library. <http://library.thinkquest.org/4132/info. htm>.
• "The U.S. Economy: A Brief History." USINFO.STATE.GOV. <http://usinfo.state. gov/products/pubs/oecon/chap3.htm>.
• "World War II." MSN Encarta Online Encyclopedia. 2007. Microsoft Corporation. <http: //encarta.msn.com/encyclopedia_761563737_15/World_War_II.html>.

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