the economic downfall

timer Asked: May 9th, 2018
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discuss the economic downfall in the us history

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School: Carnegie Mellon University


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The Decline of U.S. Economy: A Historical Comparison
The U.S. economy has experienced vigorous development as well as “decline” three
times in the more than 200 years since the founding of the United States. The first “decline” of
the U.S. economy occurred in the 1930s when the capitalist world was in the great economic
depression. The second “decline” took place in the 1970s and 80s during which the international
competitiveness of U.S. commodities and capital decreased drastically. The third “decline”
occurred during the recent financial crisis. The reasons and results of the three “declines” are
totally different. Following the first two “declines”, the United States entered a new stage of
economic growth through reform and innovation. There are still lots of uncertainties whether the
U.S. economy would be able to recover this time, but it seems certain that one, the United States
has fallen from the peak of e...

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