31. Nature of American business today.

No single factor is responsible for the successes of American business and industry. A population of more than 250 mln people provides both workers and consumers for American businesses. A number of recurrent themes weave themselves through the fabric of American business life. A few are: • What role for government? For more than two centuries, the theory of laissez-faire has dominated government policy toward American business. Laissez-faire ("leave it alone") allows private interests to have virtual free rein in operating business. • Protectionism or free trade? Protectionist measures, such as those advocated by Alexander Hamilton, have often held sway. As a rule, manufacturers and industrial workers have been the strongest supporters of protectionism. The United States had generally high tariffs. In response to complaints that high tariffs were making the Great Depression of the 1930s worse, a period of trade liberalization began with Congress' adoption of the Reciprocal Trade Agreements Act of 1934. In the 1970s and 1980s renewed economic stress has evoked calls for a return to protectionism.• Big business or small business? Since about the time of the Civil War, the United States has experienced several waves of business concentration. Supporters of concentration have argued that only large enterprises can benefit from the advantages of scale that accompany modern industrial methods. Few if any Americans believe that complete return to small-scale enterprise would be either possible or desirable. But many have criticized the ways in which concentration has occurred. • Relations between management and labor. Still another contentious issue has been the relative rights and responsibilities of management and labor. While management has usually held the upper hand in management-labor disputes in the United States, organized labor, promising higher wages and improved benefits, made major gains under laws adopted by Congress in the 1930s. Those laws established a legal framework for worker representation and for the collective bargaining process • The ups and downs of the business cycle. Business activity in the United States has followed a cyclical pattern of ups and downs, as is common in market economies. The period of time from the peak to the trough of a cycle varies greatly, from as little as 3 to as many as 15 years. Because of the cyclical nature of business activity, such economic indicators as employment rates and investment levels are constantly fluctuating. Over time, however, the level of business activity has tended to rise. International business American diplomacy has often opened doors for American business abroad. American political leaders have often encouraged American businesses to invest abroad as a way of strengthening the American diplomatic hand. Not surprisingly, the American business presence has received a mixed welcome in the rest of the world. Many people see American business activities as an extension of its diplomacy. On the other hand, many people in other countries have welcomed investments by American firms as a means of raising their own standards of living. By investing abroad, American businesses have provided many new jobs and new products for people who lacked access to the benefits of modern industrial society. Business organizations in the United States have been eager to spread the message of free enterprise to new generations of Americans. One of many activities sponsored by United States businesses is a nationwide program called Junior Achievement. Local business people help high-school-age "junior achievers" to organize small companies, sell stock to friends and parents, produce and market a product and pay stockholders a dividend. The same young people act as company officers, salespeople and production workers. The idea is to give young people a deeper appreciation to the role entrepreneurship plays in a capitalist society and to give them experience in business practices.

32. American economy and Financial Institution The United States has a mixed economy where corporations and other private firms make the majority of microeconomic decisions regulated by government. Since the 1970's, the U.S. economy has been characterized by somewhat slower growth. In 1985, the U.S. began its growing trade deficit with China. In recent years, the primary economic concerns have centered around: high national debt ($9 trillion), high corporate debt ($9 trillion), high mortgage debt ($9 trillion), high unfunded Medicare liability ($30 trillion), high unfunded Social Security liability ($12 trillion), high external debt (amount owed to foreign lenders), high trade deficits, and a rise in illegal immigration. In 2006, the U.S economy had its lowest saving rate since the 1933. The US economy maintains a low unemployment rate, and is still an attraction to immigrants worldwide.The economy of the United States is large and complicated, but there remain certain features which are easily identifiable. A central feature of the US economy is freedom in economic decision-making, for both the individual and corporation.This is enhanced by relatively low levels of regulation, taxation and government involvement, as well as a court system that generally protects property rights and enforces contracts. A large population, a large land area, numerous natural resources, a stable government and a highly developed system of secondary education are almost universally regarded as substantial contributors to US economic performance.The first ingredient of a nation's economic system is its natural resources. The United States is rich in mineral resources and fertile farm soil, and it is fortunate to have a moderate climate. It also has extensive coastlines on both the Atlantic and Pacific Oceans, as well as on the Gulf of Mexico. Rivers flow from far within the continent, and the Great Lakes—five large, inland lakes along the U.S. border with Canada—provide additional shipping access. These extensive waterways have helped shape the country's economic growth over the years and helped bind America's 50 individual states together in a single economic unit.The second ingredient is labor. The number of available workers and, more importantly, their productivity help determine the health of an economy. Throughout its history, the United States has experienced steady growth in the labor force, and that, in turn, has helped fuel almost constant economic expansion. Until shortly after World War I, most workers were immigrants from Europe, their immediate descendants, or African Americans who were mostly slaves taken from Africa, or slave descendants. Beginning in the early 20th century, many Latin Americans immigrated; followed by large numbers of Asians following removal of nation-origin based immigration quotas. The promise of high wages brings many highly skilled workers from around the world to the United States .Similarly, economic opportunities in industrial, northern cities attracted black Americans from southern farms in the first half of the 20th century. Third, there is manufacturing and investment. In the U S., the corporation has emerged as an association of owners, known as stockholders, who form a business enterprise governed by a complex set of rules and customs. Brought on by the process of mass production, corporations such as General Electric have been instrumental in shaping the United States. Through the stock market, American banks and investors have grown their economy by investing and withdrawing capital from profitable corporations. Today in the era of globalization American investors and corporations have influence all over the world. The American government has also been instrumental in investing in the economy, in areas such as providing cheap electricity , and military contracts in times of war. While consumers and producers make most decisions that mold the economy, government activities have a powerful effect on the U.S. economy . Main industries: petroleum, steel, motor vehicles, aerospace, telecommunications, chemicals, electronics, food processing, consumer goods, lumber, mining, defense .Exports $1.024 trillion (2006 ) Export goods- agricultural products (soybeans, fruit, corn) industrial supplies (organic chemicals) capital goods (transistors, aircraft, motor vehicle parts, computers, telecommunications equipment) consumer goods (automobiles, medicines) Main export partners Canada 23%, Mexico 14%, Japan 6%, United Kingdom 3.5% Imports $1.869 trillion . Import goods- agricultural products , industrial supplies 32.9% (crude oil ), capital goods 30.4% (computers, telecommunications equipment, motor vehicle parts, office machines, electric power machinery), consumer goods 31.8% (automobiles, clothing, medicines, furniture, toys) (2003) Main import partners Canada 17%, Mainland China 16%, Mexico 11%, Japan 8%

33. HISTORY:1865 TO 1929 Reconstruction was the period after the American Civil War when the Southern states of the defeated Confederacy, which had seceded from the United States, were reintegrated into the Union. The attempt to establish civil rights for the Negro Freedmen caused lasting bitterness among white Southerners toward the federal government.Under Reconstruction, Republicans took control of Southern State governments from the Democrats and proceeded to comply with readmission requirements. All Southern states were readmitte d by 1870, and Reconstruction continued until 1877, when the contentious Presidential election of 1876 was decided in favor of Rutherford B. Hayes, supported by Northern states, over his opponent, Samuel J. Tilden. In any case, Reconstruction generally came to an end at this time since white Northerners had lost interest in trying to protect Southern blacks from Southern whites.The end of Reconstruction marked the demise of the brief period of civil rights and civil liberties for African Americans in the South, where most lived. The South then created a segregated society through its "Jim Crow Laws", with the Southern white elites in firm political and economic control under a dominant-party system, called "The Solid South". Furthermore, local white officials and mobs practiced lynching as a mechanism of terror to keep the black population under control and banned blacks from voting or otherwise seeking individual rights. Under the authority of Attorney General Palmer arrests were made and political radicals were deported.MOVING WEST After the C.W. Am-s settled the western half of the U.S. Miners searchers for gold and silver went to the Rocky Mount. region. Farmers settled in Minnesota and Dakotas. Cowboys – hired horsemen. They were former s. soldiers or former slaves. A cowboy was America’s hero: worked long hours for low wages.Settlers and the U.S. army fought frequent battles with Indians, a total of 7000 whites and 5000 Indians were killed in the course of the 19th century. Many more Indians died of hunger and disease caused by the westward movement of settlers. White men forced the Indians from their land & nearly destroyed all the buffalo, the main source of food for the indeginous people. From 1865 to about 1913, the U.S. grew to become the world's leading industrial nation. The availability of land and labor, the diversity of climate, the ample presence of navigable canals, rivers, and coastal waterways filling the transportation needs of the emerging industrial economy, and the abundance of natural resources all fostered the cheap extraction of energy, fast transport, and the availability of capital that powered this Second Industrial Revolution."Where there was iron there was coal" shifted production from artisans to factories, the Second Industrial Revolution pioneered an expansion in organization, coordination, and the scale of industry, spurred on by technology and transportation advancements. Railroads opened up the West, creating markets where none had existed. The First Transcontinental Railroad, built by Irish and Chinese immigrants, provided access to previously remote expanses of land. Railway construction boosted demand for capital, credit, and land.New technologies in iron and steel manufacturing,combined with similar innovations in chemistry and other sciences to vastly improve productivity. New communication tools, such as the telegraph and telephone allowed corporate managers to coordinate across great distances. Immigration:From 1840 to 1920, an unprecedented and diverse stream of immigrants arrived in the U S, approximately 37 m-n in total. They came from a variety of locations: Germany;Ireland; Italy; England, Scotland and Wales; Scandinavia; and 3.3 million people from Russia. Various ethnic groups settled in different locations. New York and other large cities of the East Coast became home to large Jewish, Irish, and Italian populations, while many Germans and Central Europeans moved to the Midwest, obtaining jobs in industry and mining. At the same time, about 1 ml-n French Canadians migrated from Canada to New England.Immigrants came for a variety of reasons, such as to find economic opportunity or to escape from the Irish Potato Famine. Some Irish were recruited right off the boats into the Union Army during the Civil War. Many immigrants fled from religious or political persecution. Life was hard in Europe and constant wars and epidemics were reason for massive immigration toward better life in the United States. Mmany of these new immigrants were subject to prejudice and discrimination. And all workers faced the dangerous and exploitative labor conditions prevalent throughout much of the United States.In the end, millions of new immigrants had to dig up their native roots from the Old World, and come in hope of finding a better life in the New World. This desire for freedom and prosperity led to the famous term; the American Dream.

34. Religion in the United States has a history of diversity, due in large part to the nation's multicultural demographic makeup. 41% of American citizens report they regularly attend religious services. The U.S. guarantees freedom of religion and many churches in the U.S. use this freedom by taking strong stances on political subjects.ChristianityLargestReligion(78%):Protestants,Catholics,Mormons,various other Chr denominations.Chr was introduced during the period of European colonization.The French, Spanish and Irish brought Catholicism,while Northern European peoples introduced Protestantism.Am Christians developed in their own path.During the Great Awakenings interdenominational evangelicalism,Pentecostalism and Christian fundamentalism emerged, along with new Protestant denominations(Adventism, The Church of Jesus Christ of Latter-Day Saints).No ReligionThe US is unique amongst other post-industrial countries in that it has a relatively low percentage of people claiming to have no religious beliefs but the fluidity of religion in the country is high.Judaismis the 3-largest religious preference in the US.Jews have been present in the US since the 17 century.A significant number of people identify themselves as Am Jews on ethnic and cultural grounds, rather than religious ones. Am Jews have some sort of strong connection to the Jewish community, whether religious or cultural. In recent years, there has been a noticeable trend of secular American Jews.Buddhismentered the US during the 19 c with the arrive of the first immigrants from Eastern Asia. The first Budd. temple was established in San Francisco.During the late 19 c Budd. missionaries from Japan came to the US. 20^th c saw the emergence of new approaches, and the move of Budd. into the.Many foreign associations and teachers started to organize missionary activities.US converts established the first Western-based Budd. institutions, temples and worship groups.IslamThe history of I in the US starts in the early 16 c with the confirmed arrival of early Muslim visitors. Much of the growth has been driven by immigration and conversion.Up to one-third of Am Muslims are African Ams who have converted to I during the last 70years.HinduismLarge groups of Hindus immigrated from India and other Asian countries since the 1960-70s.During the same decades the International Society for Krishna Consciousness was founded in the US.Hindu religion is growing in the US thanks to immigration and many Western converts. Hinduism is expanding in popularity and influence on the public life. Hindu temples are flourishing in the US and recently.Unitarian Universalism (UUism) came into existence as a unique religion in 1961.UUA is a theologically liberal religious movement characterized by its support of a "free and responsible search for truth and meaning." Members do not share a creed; rather they are unified by their shared search for spiritual growth.Many UUs appreciate and value aspects of Islamic, Christian and Jewish spirituality.Others Several other religions are represented in the United States, including traditional Native American spirituality, New Age spirituality, Sikhism, Jainism,Shintoism,Taoism,Caodaism,Bahá'íFaith,Heathenism,Neopaganism.Native Am religion These spiritualities may accompany adherence to another faith, or can represent a person's primary religious identity. Another significant religious body among Native peoples is known as the Native American Church.It is a syncretistic church incorporating elements of native spiritual practice from a number of different tribes as well as symbolic elements from Christianity. Native Ams are the only known ethnic group in the US requiring a federal permit to practice their religion.