Us economic history
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US ECONOMIC HISTORYI’m going to talk about The US economic history.
Since the creation of US in 1776, the US economic has grown faster, to become the first world economy. An economy which have a huge impact of all different economy in the world.
COLONIZATION
As we know, the economic history of the US started with European colonization in the 16th, 17th, and 18th centuries.
Thanks to that, the US has opened to the word and he has traded with different developed countries (that is to say the most of countries colonization especially GB).
AMERICAN REVOLUTION
After the colonization, there was the American Revolution (1775 – 1783) which we can saw the born of United States as a liberate countries.
This revolution permits the creation of the First Bank of the US in 1791.
BETWEEN 1791 – 1860
During almost one century, the US knew a phase of growth.
Indeed The US traded more and more with the others countries especially in the agriculture sectors.
In addition to that, we have an explosion of immigration and urbanization. Consequently big cities in the north became very influent. Indeed they developed their infrastructures
Nevertheless, in the US, agriculture stayed le main sector, before the industrialization
CIVIL WAR AND RECONSTRUCTION: 1860’S
One on hand, we have, the South of the US which remained rural and dependent.
On the other hand, the North represented capital, manufactured goods and industrialization.
The American Civil War (1861–1865): opposed the South and the North of America. The industrial advantages of the North over the South permitted the North to win the civil war.
The fail of South, had as conquences that:
- the slave-labor system was abolished;
- the world price of cotton plunged, making the large southern cotton plantations much less profitable.
Thanks to the Northern victory, the nations were enrolled in a new economic system dominated by industry.
SECOND INDUSTRIAL REVOLUTION: 1865–1900
The Industrial