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America's New Economy

            A new American economy began to emerge during the closing months of 1999. However, many people believed that a possible collapse of the global computer network was highly plausible with the year 2000 approaching. This believed crisis became known as Y2K. The reason people believed a downfall of the global computer network was possible was because many programs could have possible treated the year 2000 as 1990. Critics believed that this would cause electronic confusion which would spiral global information systems into a disastrous downfall.
             While the majority of the people were stressing over Y2K the economy was actually beginning to broaden itself. Americans from 1992 to 2000 got the privilege to witness nine years of consistent economic expansion. Unemployment plummeted from 7.2% in 1992 all the way down to 4.0% at the beginning of 2000. So, with that being said while Americans were worrying about Y2K the exact opposite process was coming into effect. At the start of 2000 American businesses created more than twelve million new jobs for the United States economy. The stock market began to expand very rapidly during the nineties.
             The economic boom greatly benefited the federal budget's deficit. Reduced borrowing from the United States Treasury resulted in low interest rates, which helped corporate expansion and consumer spending. Bill Clinton signed a deficit reduction bill that supposedly promised fiscal stability. Aside from all of the statistics were impressive gains in the efficiency of the American economy. Manufacturing workers were increasing by four percent each year at the end of the decade. The reason this increase in productivity even was possible was because of the full incorporation of personal computers and electronic communication into our daily lives and business practices. .
             The United States was a service economy at the brink of the twenty first century. A service economy is everyone not directly involved in producing and processing physical products.


Essays Related to America's New Economy

1. European Colonization of the Americas

... America. Had each one developed similar ideas, then these three distinct civilizations would be blended together into one society today. Before the Americas, these three nations existed with similar race, social, and political structures. As they dispersed to the new world, each formed Latin, Central, and North America, with their own individual qualities. Child labors lead to the colonization of America for ... the Indians, "The Spaniardes have executedmost outrageous and more the Turkishe cruelties in all the west Indies. The climate in France lead to the lack of interest in the new w...

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2. Exploration of the Americas

... other areas of the world, the exploration of the Americas in the mid 1500's greatly affected our society and how we live in it today. Without the exploration of the Americas, Europe would have never expanded, and they would have never found gold and riches to supply their needy economy. The finding of "the new world" made many severe changes in both Europe and ... the Americas. Many of the indigenous populations of the Americas were affected by the disguise of slavery. The Spanish grouped all of the natives and forced them to participate in their haciendas ... to conquer the Indians as...

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3. Pipelines in an Oil-Driven Economy

... is because of the strong opposition from both sides. "We must continue to grow the domestic energy supply to fuel the economy." U.S. Senator Casey's Office. Republicans believe the pipeline may create new jobs and help stimulate the economy, while environmentalist's believe that the massive pipeline may cause harmful effects on the environment. Building the Keystone XL Pipeline will allow up ... without spending tax payers money, but may result in billions of dollars in tax revenue for the states that the pipeline will run through. The pipeline will help in Americas needs for pipeline i...

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4. Americas Role In The World

"Trade is about more than economic efficiency; it reflects a system of values: openness, appreciation of differences, opportunity freedom of choice and a hope for betterment for all peoples and lands." This is a quote from U.S. trade representative Robert Zoellich which epitomizes the beneficial side effects of increased free trade. Of course, there are negative side effects to free trade and expanding the global economy as well. Determining the effectiveness of any approach regarding the United States global role will involve weighing out both the pros and cons. However, when comparing the tw...

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5. America and the New Deal

... agriculture, and setting up social security. The federal government became more involved by establishing the SEC and the FDIC. Some Americans saw the New Deal as a way to rebuild America's economy and government after the depression. People who supported the New Deal, supported the government as they tried to create jobs, help agriculture and set up social security. Documents C, E, and H all show evidence ... shows how the unemployment rate skyrocketed during the Great depression, but it also shows how it dropped after the New Deal was put into effect. This shows that the New Deal Creat...

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6. Obama Administration Passes Strict Fuel-Economy Regulations

... for the average consumer, the higher MPG will save $8,000 in fuel costs over the life of a car. These new regulations are intended to cut greenhouse gas emissions in half (Bloomberg Businessweek). The new regulations are formally called the corporate average fuel economy rule, or CAFE. To comply with CAFE, the auto industry will shell out about $136 billion. However, consumers are ... Agency and National Highway Traffic Safety Administration. The regulations will be gradually introduced to the industry, with small improvements made each year (Keane). When the administration first proposed...

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7. Slavery in a New World

... slave owner's murder can be compared with the historical example in the publication Cultivation And Culture, Labor And The Shaping Of Slave Life In The Americas. The situation in Culture and Cultivation involved Samuel Martin, a slave owner on the island of Antigua who forced his slaves to work on their ... owner in the novel Family failed to appreciate the limits of enslaved tolerance. Always, the central character in the novel, was sold to a new slaveholder, Doak Butler, and like her mother and grandmother, she was brutally raped by the him. However, she decided that she would break th...

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8. America's Rise to Superpower

... had been in the past. Nations around the world were becoming more imperialistic and straining to spread power and influence to new lands. In a way, America may have felt pressure to follow suit. With other countries dominating larger areas in new locations, America needed to do the same to compete. It was a sure bet that America would be at risk of losing ... aid the people in need. By 1890, the United States had by far the world's most productive economy. The American industry produced twice as much as their closest competitor Britain. Americas army was weak having less than 50,000 tro...

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9. Transatlantic Slave Trade

... hundreds of Africans were confined in prisons awaiting sale and shipment. THE SLAVE TRADE AND DEVELOPMENT OF PLANTATIONS IN THE AMERICAS Christopher Columbus's "discovery" of the New World in 1492 marked the beginning of a transatlantic trading system. Via the slave trade, Africans played a leading role ... fact that the U.S. South developed one of the largest slave societies in the 19th century. But the development of a cotton plantation economy in the first half of the 1800s occurred after the abolition of the slave trade. In contrast to many plantation regimes, slave populations ... ...

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10. Mexico War

... Britain's benign neglect of the colonies in this era allowed them to quickly develop a booming economy and trade freely with other regions of the Americas without restrictions. The success of the United States" market economy lead to Great Britain's implementation of restrictions and taxes on the colonies in their attempts to ... as a tantamount to an act of war" (David J. Weber, 1859). Although President Herrera knew it would be unwise to go to war, he new that it was necessary Mexico to defend its national honor. After years of constant wars against foreign conquistadores and battles ...

  • Word Count: 1451
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