The history of modern American cheaper traces its roots in the 16th century when migrants from Europe came to conclude in the country. At that time, the nation was inhabited by Native Americans — indigenous peoples who were recognized according to tribes. Prior to the coming of European settlers, tribes traded among themselves.
When the Europeans came they established economic interaction with the natives straight through the barter or trading of commodities. Such interaction increased tremendously over time – thus becoming the cornerstones of industry and the foundation of a nation. From the early trading systems, enterprise in America progressed to more complex and more overall levels. Tracing these roots, from the early barter practices straight through the market Revolution up until the Internet Revolution can help us better appreciate why America is the most suited cheaper in the world today.
The beginnings of enterprise in America are intimately intertwined with the early custom of barter. In its early history, the United States was a range of colonies where the absence of a common currency led to the use of all sorts of substitutes, e.g. Tobacco and wampum, as money.
Barter took many forms then. Among these were the potlatch ceremonies of Native Americans that had economic functions entwined with group and ceremonial significance. A potlatch is normally a ceremony captivating music, dance, and spiritual rituals. The host gives away his resources gathered for the event, which in turn the guests give in return when they hold their own potlatches.
Barter also took the form of original native currencies such as furs and wampum which were significant for frontier trading with the indigenous population. Wampum, made out of the shells of a type of clam, was best known form of money among Native Americans. Wampum’s use as money came as a ensue of its desirability for adornment purposes.
Among the early documented use of wampum points to 1664 when colonist Peter Stuyvesant arranged a loan in wampum for the cost of the wages of workers constructing the New York citadel (page 458). Other commodities that were ordinarily traded included tobacco, rice, indigo, wheat, maize, etc.
Iii. From the market Revolution to the yield Era
As colonies and settlements grew, industries became more developed. The introduction and use of machineries in yield ushered in the market Revolution. The market Revolution changed the ways by how American businesses produced their goods. The introduction of much new technological advancement led to greater and faster yield of goods. The onset of greater productivity led to unprecedented economic increase to a budding nation. The market Revolution basically changed the country from a mainly agricultural society to one that in which industry and manufacturing was in control.
The biggest advancement in technology was the use of steam power. This revolutionized industries like textiles and manufacturing. Also, the invention of the telegraph made communication much faster. The onset of the yield era signaled the end of the market revolution. The new era saw many associates seeing at ways to sacrifice the cost of production. associates opinion then that lowering manufacturing costs would lead to lower prices of products. This opinion was fueled by such milestones as the invention of the assembly line and more effective work law (Haber, 1964).
These two innovations made businesses aware that mass yield resulted in lesser costs of yield and greater profits. Unfortunately, unstable economic conditions brought about by the Great Depression caused many associates to fail even though they had adopted mass yield techniques.
Iv. From the Marketing Era to today’s enterprise world
Contrary to the fears of the normal public, the end of World War Ii saw pent-up buyer examine fueling strong economic increase in the postwar period. Several industries grew tremendously while this period – the automobile industry, aviation and electronics to name a few. A housing boom added to the expansion.
The postwar economic aid to European countries under the Marshall Plan also helped profess markets for numerous U.S. Goods. In the 1980s, rapid developments in technology impacted the economy. The personal computer, hand-held movable phones, and new audio and data storehouse technologies greatly influenced business. But the many impact would come with the emergence of the Internet.
The impact of the Internet on enterprise is as far reaching as its impact on an individual’s way of life. Today, the Internet is a underlying component in determining both strategy and enterprise design. This technology enables businesses to reach over and beyond original boundaries and originate new sources of profit.
The history of enterprise in the United States is a reflection of the country’s evolution from a uncomplicated cheaper to being the most suited country in the world. To say that enterprise had slight or no sway in the attainment of that status would be to deny the very history of America. Indeed, the country was founded on democratic principles, but it grew and developed, no doubt, because of business.