The Development of the American Economic System

Economics / April 23, 2015 / No Comments /
A look at the development of capitalism and the merchant class in America, from 1787 to the 1877, and the effect it has on American economics to this day.

“The prosperous nation of freedom and liberty was fueled by growth socially, geographically, and most importantly, technologically. The period of time between the introduction of the Constitution (1787) and the last period of Reconstruction (1877) was one of the most innovative and influential periods in American history. As the country developed during these times, its economic system was molded and formed to the supposed best that it could be. Built on imitations and variances of existing nations economies, it became what was to be the cornerstone for modern day international capitalist economy. What made the United States the primary benefactor was its people’s `almost universal ambition to get forward`, thus creating the need for the technological innovations and sociological revolutions which became the building blocks of modern day economics (Taylor, 4). With new technologies being found everywhere, the merchant classes attempted to mold an entirely new, productive economic system albeit good or bad which The United States still rests upon today. ”

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