During the great surge of industrial growth between 1865 and 1900, the work force expanded enormously, especially in the heavy industries. But the new workers suffered in times of economic depression. Strikes, sometimes accompanied by viole
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The factory system that developed around 1800 changed working conditions markedly. The employer no longer worked side-by-side with his employees. He became an executive, and, as machines took over manufacturing tasks, skilled workmen saw th
Continue reading >>Small businesses, those having fewer than 500 employees, loom large in the U.S. economy. They can respond quickly to changing economic conditions and customer needs with innovative technical solutions to production problems. Their share of nonfarm GDP rea
Continue reading >>With a large land mass, natural resources, a stable government, and a relatively well-educated workforce, the U.S. economy has some competitive advantages in the world marketplace. Importantly, it also has a willingness to endure, even embrace, change.
Continue reading >>“America's high standard of living is due to the fact that American workers are among the most productive in the world, and a greater share of the American population works than in many other countries,” according to the Council on Competitiveness.
Continue reading >>Services produced by private industry accounted for 67.8 percent of U.S. gross domestic product in 2006, with real estate and financial services such as banking, insurance, and investment on top. Some other categories of services are wholesale and retail
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