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American history - Essay Example

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In last 230 years the United States has become a large, industrialized, integrated economy that contributes almost one third of the world’s economy. Started with marginal colonial…
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Download file to see previous pages It is very evident from different periods that different historical period has left its marks on American economy. All those periods have laid strong base for modern world’s economic super power.
Colonial American economy was mainly driven by agriculture. The country tilted towards industrialization from the time of independence. All the industrialization was expanded in 18th century. It started long back in 1776. In that period economy of time 13 original colonies were very strong and stable. At this point of time the country faces great economic expansion as number of population increased and lots of foreign people in fluxed in to the country. People of America became very self sufficient which gave huge boast to their economy. Due to its strategic geographical location, abundant of natural resources has attracted lots of foreigners in to the country. Massachusetts was a great shipping hub. Virginia was an attractive place for business ventures. Fur industry and fishing industry has boosted the local economy very much. Increasing population and foreign trade has developed the American economy at that stage. It was the starting time of global power shifting. At that point of time white free Americans were accustomed with higher life styles (French 149). In that colonial period people of America earned their livelihood on the basis of small farms. As the colonies grew small local industries like gristmills and sawmills came up. Entrepreneurs started their business endeavours. People started farming rice, grew tobacco and indigo. Building ships and sailing them also was very common for creating wealth. It was a very important phase for economic development in America. It is the time when American people started to unleash their entrepreneurial skills.
Americans were fighting for their rights with British people. Britain refused American demand of equality. Americans decided ...Download file to see next pagesRead More
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