The history of the modern American economy follows its roots in the 16th century when European immigrants settled in the country. At that time, the nation was inhabited by indigenous peoples of the Indians who were recognized by tribes. Before the arrival of European colonists, tribes were traded among themselves
When Europeans came, they established an economic relationship with the natives to barter or trade in goods. Such interaction increased over time, making it the cornerstone of trade and the foundation of the nation. From early trading systems, business life in America has become more complex and comprehensive. Tracking these roots, from early barter to the Industrial Revolution to the Internet revolution can help us better understand why America is the world's most powerful economy today. Bartering
The beginning of US business is closely interwoven with barter's early practice. In its early history, it was a collection of colonies in the United States, where the lack of a single currency has replaced all sorts of substitutes, tobacco and wampum as money.
Barter thus took many forms. These included Indians whose economic functions were of social and solemn importance. Potlatch usually involves solemn music, dance and spiritual rituals. The host gives up the resources collected at the event, which are handed back by the host when they hold their own stamps.
Barter is also a traditional native currency, such as fur and wampum, an indigenous population. Wampum made of shells was the most well-known treasure trove of Indians. Wampum's use as money was due to his desire for decoration
Early documented use of Wampum refers to 1664 when Bishop Stuyvesant borrowed the wages of workers in the Wampum to build the citadel of New York (page 458). Other commodities commonly used include tobacco, rice, indigo, wheat, maize, etc.
III. From the Industrial Revolution to the Age of Production
With growing colonies and settlements, industries have become more advanced. With the introduction of the Industrial Revolution, the introduction and use of machinery has begun. The industrial revolution has changed the ways in which American companies make their products. The introduction of new technology advances resulted in larger and faster product manufacturing. The boom in higher productivity has resulted in unprecedented economic growth for a nation. The industrial revolution has fundamentally changed the country primarily from agricultural society to the direction of industry and production.
The biggest advancement in technology was the use of vapor. This has revolutionized industries such as textiles and manufacturing. The telegraph's invention made much faster communication. The beginning of the production era indicated the end of the industrial revolution. In the new era, many companies saw how to reduce production costs. Companies believed that lowering production costs would result in lower prices for the products. This concept is fueled by milestones such as the new production line and more efficient working methods (Haber, 1964).
These two innovations made business business aware that mass production resulted in lower production costs and higher profits. Unfortunately, due to the unstable economic circumstances caused by the great economic crisis, many companies failed, even if mass production techniques were used. [1959-000]. From the age of marketing to today's business world
Contrary to the fears of the general public, the end of World War II was fueling a strong economic growth during the post-war period. During this period many industries have grown insignificantly – automotive, aviation and electronics to name a few. There was a house cover for the expansion.
Under the Marshall Plan, post-war economic support to European countries has also helped maintain the market for many US commodities. In the 1980s, the rapid development of technology had an impact on the economy. Personal computers, handheld mobile phones and new voice and data storage technologies have significantly influenced business. But the biggest impact would be the appearance of the Internet.
The impact of the Internet on business is as far as the impact of an individual's lifestyle. Today, the internet is an essential element in defining strategy and business planning. This technology enables businesses to create traditional cross-border and new sources of revenue. Conclusion
History in the United States reflects the country's development from the simple economy to the world's strongest country. The statement that business has little or no influence on achieving this status would be to deny America's history. Indeed, the country was based on democratic principles, but it undoubtedly grew and developed due to the business.
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