Author: JONATHAN POON

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This course brought a new experience in business history in America. I learn the different aspect and method in America economy to develop how America is today. For example, the book I read for Friedman shows how American was improving after the war and the development of firearms and other uses for oil. In Rosenthal reading, it shows me the methods they use for practicing planation and keeping their enslave individuals in place. For the reading on Stein, she talks about the how the economy was back in 1970s.

In class, I learned the different policy in place for different time periods and the issues within the economy that was on the rise. I learn that the market revolution was one of the key roles in the economy as everything was kind of based on it. During class, we talked about early development of acts and policies in political economy in America. Furthermore, the switching of America being Industrial to more technological. How the president policies effects individuals for long term.

The rise in technology in America in the 1980s, as it was moving towards technology and marketing field. These was important as I learn the different issues that arose from past mistake that America has done. Taking this class has taught more knowledge on the effects of these consequence of what America has done and how America changed from it.

In the reading, “Pivotal Decade: How the United States Traded Factories for Finance Seventies” by Judith Stein argues about the economic issues in the 1970s and how it affected our economy. Stein explains on how America was in a better state in the 1945 compared to the 1970s. The income people received, other issues that were not being solved, and comparing this to other countries.

In 1945, Stein talks about the amount of family owned cars “54% percent of U.S. possessed cars” (Stein 1). Many people were more wealthy back in the past. But during the 1970s, “there were as many private cars as families” (Stein 1). The fall of families own cars was on the rise and the rise of private own ones. There was also a rise in people becoming poor.

In the 1930s, the unemployment was stable “unemployment never fell below 14 percent.” (Stein 2). Many people enjoyed holidays and other types of benefits.  During the 1950s, the amount of people living in cities decreased “Fourteen of fifteen cities with more than one million inhabitants decreased.” (Stein 2) Over the years as this continued, more people began to live in suburb areas. This was due to higher wages and other corporation outside the cities.

Other countries began to catch up to the United States GDP. For example, “In 1950, Japan’s GDP per person was the same as that of the United States in 1850.” (Stein 5) This points out that America was slowly falling behind as years pass by. The income level in Europe rose from “40 percent of American levels in 1950 to over 70 percent by 1973” (Stein 5). That compare to America it seems like Europe was growing at faster rate.

Stein argues that the United States foreign policy was ignoring how the economy progressed. Stein points out that “the U.S. economy grew at a rate of 2.3 percent per year between 1955 and 1961” (Stein 8) Which was a small amount compared to the other countries growth at that time. Stein also explains the lifestyle of 60 percent of all American workers in the 1970s “a toaster that will last for thirty-three years, a refrigerator and range that will each last for seventeen years.” (Stein 14) Many people keep home items for more than a couple of years and some even decades without changing. This point of the living condition of not being able to change anything.

In brief, Stein argues that economic had issues in the 1970s and how it affected our economy. Stein believes that the government was not imposing better policy to help America grow more instead of falling behind other countries. It gave me a better understanding of the issues of the economy and the issues that arise during the 1970s.

In the reading, “Accounting for Slavery: Masters and Management” by Caitlin Rosenthal explains deeply about development and management of different practices of planation around the 18^th and 19^th century. Through the different methods of planation with the help of enslave individuals. Keeping track of records and development of the growth of planation.

Bookkeepers help keep records of inventory and lives lost. Bookkeepers “’credit’ the account for lives lost over the course of the year” (Rosenthal 9). Keeping track if they died due to diseases, fevers, and old age. Bookkeepers were also responsible for “maintenance and preparing food crops” (Rosenthal 29). They could be carrying letters, math, and carting.

The improvement of blueprints for a machine that preprinted forms was interesting. It was a technology that helped bring in reports of what was being produced and was used for books. During the early 19^th century, “preprinted forms guided planters…” (Rosenthal 50). This help keep track of records and maintain planation production. With the development of preprint, owners and management individuals could purchase “prepaid journals to help monitor operations” (Rosenthal 51). If these individuals were away, they could keep track of the process.

The beginning of enslaved individuals obtaining freedom. After the Civil War, planters began to slowly lose control of their own workers and would have to pay them. Since they were free, they would of leave whenever they wanted. This cause planation to fall apart as planters began to no longer “measured and monitored labor with exacting precision” (Rosenthal 159). But some enslaved individuals decided to stay with their plantation owners.

In brief, these chapters were interesting as it explains the development and management of different practices of planation around the 18^th and 19^th century. These caused the growth of different management to grow planation and keep records of the process. It was interesting to see the development of bookkeepers and prepaid forms to maintain the production of planation and workers. Looking at the aftereffects of individuals being free after plantation owners start to lose control of their enslaved people.

In the reading, “American Business: A Very Short Introduction” by Walter Friedman explains the different aspect of improvement and change around the 18^th and 19^th century. After the American Revolution, America went into debt. With the help of business activity, government, policies, and trading goods the nation began to slowly reshape itself.

The improvement of whale oil kind of stood out to me. It was one of the ways where people could use it for lighting and production of machines. During the American Revolution “there were about 360 whaling vessels” (Friedman 22). The amount of risk and funding for these whaling expedition “Ships could be lost or catch on fire” (Friedman 23).  In the 18^th century, the improvement of having tryworks at sea, “furnaces for melting blubber” (Friedman 23). As for today, America is banned from whaling but there are still other countries who still does it.

The advancement and improvement of firearms. In 1815-1822, Colonel Roswell lee began working towards interchangeable parts. However, Thomas Blanchard who was an worked for him created this machine, “Blanchard lard, was able to produce identical gunstocks” (Friedman 34). Since this was expensive to create, the US was willing to fund to make more of these interchangeable parts due to “how poorly the US arsenal had fared in the war of 1812” (Friedman 35). In 1836, the production of barrel revolver was discovered by Samuel Colt “claimed that the winding of rope aboard the ship gave him the idea” (Friedman 35). The revolver soon became popular among the West and other parts of the world.

In brief, these chapters were interesting as it explains the details of methods, they used to improve America and other parts of the world. These development help makes it easier for the America to improve economically. It was interesting to find how whaling was used and risk involving it.  The change of firearm over time and the discovery of interchangeable parts for better firearms.