The U.S. economy of the 21st century little resembles that of the 18th century, but acceptance of change and embrace of competition remain unchanged.
Achieving growth through open markets
September 2009
U.S. economy currently faces its severest challenges in a generationAn Economy Driven by Competition The U.S. Economy Today
The economy has expanded and changed, guided by some unchanging principles A Balancing of Interests The South and Slavery A Spirit of Invention Convulsive Changes A Modern Economy Emerges The New Deal Organized Labor: Prosperity and Conflict The Political Pendulum Swings Deregulating Business Technology’s Upheaval The New Economy Opportunism and Credulity Sidebars: The Richest Man in the World Unlocking the Internet
Large U.S. multinational firms altered their production strategies, roles Manufacturing Faces Competition The Rise of Finance Where Americans Work Investing in Research and Education Support for Farmers Sidebar: Retailing’s Competitive Battlefield
Competition has remained a defining characteristic of the U.S. economy Small Businesses at the Economy’s Core The Chance to Start Again Creative Destruction at the Top of the Economy Corporations Push Back Junk Bonds and Takeovers Competition and the American Culture Praising Work
Education and transportation help hold together distinct regions A Nation of Regions Unifying Forces Unifying Forces and Infrastructure Creating a National Audience The Power of Education
Much debate has focused on government’s role in the economy The Reach of Economic Regulation The Antitrust Laws Protecting Competition, Not Competitors The Birth of Environmental Regulation The Tide Turns Against Regulation The Regulation of Banking Sidebar: The Changing Union Movement
United States shows no sign of retreat from global engagement Open Trade and Foreign Policy Responses to Foreign Competition A Boost for Trade Expansion Patents, Copyright, Trademarks Sidebar: A Lesson in Creative Destruction
United States, in a democratic way, faces up to immense economic challenges Soaring Deficit Income Disparity Obama’s Plan
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