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Full Description
The second edition of this successful and pioneering textbook takes a thematic approach to the subject, resulting in a comprehensive understanding of the historic development of economic issues in the United States. It provides both the theoretical foundations and historical background needed to gain an in-depth understanding of the American economy. Every chapter examines a specific topic, and the chapters are linked to each other to provide an overall view and to help students link events from the past to the modern day. The chronological approach is represented with a useful timeline as an appendix to show where the specific topics fit in the chronology. Chapter topics include: long-run causes of economic growth; economic history of income and wealth inequality; slavery, segregation, and discrimination; immigration and immigration policies; and an economic history of recessions and depressions.
New to this edition:
- New Part structure to organise the content around the specific themes that exist in the book (these are: economic growth, distributional issues, economic fluctuations and the relationship between markets and government)
- A new appendix introducing multiple regression theory, helping students to understand the most commonly used empirical tool in the economic sector.
- New Tour of the Book to enable instructors to see the key features at a glance
- New content on:
* The economic impact of Covid and comparisons with the Spanish flu pandemic of 1918-1919
* The technology and service sectors
* The impact of new ways of working (e.g. gig economy; digital transformation)
- Updated coverage of:
* The financial system
* Supply chain and logistics
* The Great Depression and the New Deal
* Native American economic experience
- Increased reference and inclusion of empirical data and economic theory
- New feature 'Making Connections' to help students connect the past with the present
- New feature 'Debating' offers two opposing viewpoints on a topic to encourage students to consider alternative perspectives
- New online resources: a companion website resources for instructors, including PowerPoints, additional end of chapter review questions and multiple choice questions with corresponding answers.
Contents
PART ONE: FOUNDATIONS
Chapter 1 Introduction to U.S. Economic History
Chapter 2 Standards of Living and American Economic Growth
Chapter 3 European Settlement and the Columbian Exchange
Chapter 4 Institutional Foundations
PART TWO: ECONOMIC GROWTH
Chapter 5 The Financial System and Capital Accumulation
Chapter 6 Natural Capital
Chapter 7 Population and Population Growth
Chapter 8 Transportation and Communication
Chapter 9 Agriculture
Chapter 10 Manufacturing and Industrialization
Chapter 11 Education
PART THREE: DISTRIBUTIONAL ISSUES
Chapter 12 Labor and Labor Markets
Chapter 13 The Distribution of Income and Wealth
Chapter 14 Segregation and Discrimination
Chapter 15 Immigration and Immigration Policies
PART FOUR: MARKETS, GOVERNMENT, AND THE FUTURE
Chapter 16 The Growth of Government
Chapter 17 Regulation and Antitrust Policies
Chapter 18 Recessions, Depressions, and Stabilization Policies
Chapter 19 Negative Externalities and Common Resources
Chapter 20 Social Spending
Chapter 21 Connecting the Present with the Past and Future
Appendix A: The Supply and Demand Model
Appendix B: Multiple Regression Analysis
Appendix C: Chronology of Important Events
Index
