Question

economic history

Explain how the role of the US government in early development of industries, factories, businesses and expansion. How does this compare to current government involvement in business? How has innovation and growth (GDP) been impacted over the decades? Provide your opinion about government and the role in business regulation or protection. 3-4 paragraphs. cite sources if you have.

Answer 1

The United States ' economic and industrial past explains the rise of the United States as one of the world's most technologically advanced countries. The abundance of land and literate labor, the lack of a landed aristocracy, the popularity of capitalism, climate diversity, and a broad, easily available, affluent and literate free market all led to the rapid industrialization of America. Capital access, free-market construction of navigable rivers, and coastal waterways, and the abundance of natural resources, all led to America's rapid industrialization by promoting cheap energy extraction.

The United States has promoted science and technology since its emergence as an independent nation. As a result, the United States was the birthplace of 161 of Britannica's 321 Greatest Inventions, including products such as aircraft, telephone, microchip, laser, cell phone, fridge, fax, microwave, personal computer, liquid crystal display and light-emitting diode engineering, air conditioning, assembly line, store, bar code, automated teller machine, and many more.

One of the real reasons for the initiation of the Industrial Revolution by the United States was the passage of the Embargo Act of 1807, the War of 1812 (1812–14) and the Napoleonic Wars (1803–15), which cut off imports from Britain of new and cheaper industrial revolution goods. The lack of access to these goods also offered a powerful incentive to learn how to grow the industry and manufacture their own products instead of just buying British-produced goods.

In the early years of American history, with the exception of transportation, many political leaders are hesitant to involve the federal government too deeply in the private sector. We generally accepted the principle of laissez-faire, a philosophy that rejects government interference in the economy except in order to preserve law and order. This mindset began to change in the latter part of the 19th century, when small businesses, farmers and labor movements began to ask the government to intercede on their behalf.

Although America never turned to fascism similar arrangements between business and labor government in Germany and Italy, the New Deal proposals pointed to a new power sharing among these three key economic players. As the U.S. government interfered heavily in the economy, this confluence of influence expanded even more during the war.

Eastern companies must register with the government of the state to operate. Corporations need a charter, and other forms of business, such as limited liability companies or partnerships, need other types of registration. Generally, the purpose of this registration is to establish the financial liability of the company's holders.

It restricts their exposure to that particular organization's amount they have invested. Registration also allows the government to track firms in the business world and fulfill their other functions.

Industries are partnering with other industries. Such agreements can be complicated, like mergers, or they can be as basic as a guarantee on purchased materials. Such agreements were implemented by the government. Companies, like people, take each other to court. An verbal agreement may be a contract, but typically only a written agreement can be proven. When one party fails or refuses to perform its contractual obligation, a corporation must resort to the compliance legal system

Not only new inventions and scientific advances are the developments that enrich our daily lives. These also include suggestions on how companies can be reorganized to make them more competitive and effective. Organizational developments in the last twenty years— from large box retailers to internet sales — have allowed retailers to streamline their supply chain to internet sellers, generating more production with less effort.
Labor productivity has more than quadrupled in retail clubs and supercenters since 1987, while labor productivity has risen by only 60 percent for the non-farm economy as a whole.
Likewise, distributors with online shopping and mail order have more than 10-fold increased productivity.