History Blogpost
The semester was characterized by insightful information regarding the history of America’s economy, industry, and capitalism to define its current development and existence. Firstly, the readings indicated that the history of America’s business and industry was influenced by foreign nations such as the British following the arrival of the first ships that brought merchants and goods from Britain to promote its economy. Further, the semester revealed that the colonial economy was significant in shaping America’s business and industries during the era of mercantilism because it encouraged more exports than imports to ensure it benefited from a foreign economy and manipulated its resources for its development. The semester’s readings are also important in showing America’s political economy benefited its industry and economy’s success because it passed policies such as reduced taxes and increased wages that enhanced workers’ motivation and commitment to their responsibilities. The rise of the global economy in the 1980s was also significant in the sustenance of America’s economy and industries because it provided foreign labor and affordable rates to encourage venture into various business activities.
The aspects of the history that were surprising to me include the revelation that America’s industry relied on the colonial economy to access labor and resources for manufacturing in various industrial confines. Additionally, it is surprising that the economy was enhanced during the postwar boom that influenced the consumer explosion following economic policies enacted to cushion the citizens from the war’s effects. Notably, studying American history from a business and economic perspective is valuable because it enlightens learners on important economic activities and policies that influenced the nation’s existence to promote its current success. Studying America’s economy through history is also important in influencing individuals to make informed business decisions for successful investment according to the nation’s resources and global business partners.