rate. The shipping of jobs to overseas companies and the entering of the Japanese into the global market also helped in the disabling of Americas economic growth. This crippling of Americas economy reached many more Americans than thought possible and had a domino effect on the economy. It first hit the corporations and forced them to downsize, causing a contraction of the company. This contraction meant the government could not extract taxes, causing the U.S to borrow from other countries and thus expanding our national debt. The expansion of the national debt started producing figures that forecasted a 2% loss a year, and by the year 2013 many predict a 35 trillion-dollar loss in productivity. These figures all lead to the assumption that America will eventually lose its edge in the global market unless we reverse the receding productivity trend, and begin taking the market back. This brief history should give you an idea of how our economy has wavered over the period since our Independence. Now lets take a look at we had to work with during this same time period.Data Showed that the average income of American Colonist in the terms of purchasing power, exceeded the average income earned in England by the mid-1700. There was an abundant of land on the frontier, natural resources, a thriving domestic trade and agricultural exports supported by slave labor accounted for this unusual prosperity.The exception since the Civil War was the result of scientific, engineering and technological breakthroughs of the nineteenth century and an unregulated market economy. America did not have an edge over other industrial nations in the development of labor replacing machines of the industrial revolution, although U.S. used these inventions to their advantage. The steam engine, the open-hearth furnace, and the internal combustion were all European inventions. British investors ...
