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There are several historical factors that made a success of the American economy

 

The Coca-Cola company began when an American pharmacist mixed together the first Coca-Cola drink and began selling it in Atlanta, Georgia in the 1890s. The famous Heinz food company which specializes in mustard, pickles and ketchup, began when a teenager started to sell various food items on the street. Americans do believe in the potential for individual success that exists within their free enterprise system.

 

Many reasons have been offered to explain why the US has been able to go from a small struggling economy to the leading industrial and agricultural nation in such a short time.

 

There is a number of factors that contribute to the high level of the development of the US economy:

 

One reason is its size and natural resources. It has the vast territory. Bu these alone do not account for its progress.

- extensive coastal and inland waterways;

- the rich mineral deposits and the large stands of virgin forests timber. In recent years the exploitation of natural resources has been slowed down because problems of intensified use of resources have a reason. The US monopolies are now trying to import as much as possible from the Middle East, Mexico, Nigeria and Venezuela. This is done in order to save the resources of the USA;

- the climatic conditions of the country. The greater part of the country lies within the temperate zone. Long and warm seasons are favourable to most of the important crops;

- an interrupted development of industry free from the effects of war. After the war of independence and the Civil War, the USA has had nothing in the shape of a war at home. No damage has been caused by bombing or shelling;

- The US had its greatest boom economy in post-World War 2 history. The enormous market that was created by World War 1 and especially by World War 2 while bringing ruin and destruction to vast European areas. These wars expanded the foreign markets of the USA;

- “ the brain inflow ” into the USA from Europe and Asia. The “brains” are imported into the USA as “ready-made goods” creating great possibilities for the development of science and industry. From the viewpoint of Europe and Asia this process is called “ brain-drain ”;

- The US has a highly mechanized produced system with a great deal of automation and high technology. They change the workplace. These changes are forcing professionals to adapt to new requirements and to adjust their expectations;

- American business and industry has also greatly benefited from the major universities, their basic research and their willingness to support talent. Despite their emphasis on their individual, Americans often work well together in small groups. They respect the person with practical experience, with “dirt under his fingernails”, as well as the expert with the Ph. D. after his name.

 

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