TALITHA UMAYA
2013130001
American Institution
Studies
CONCEPT OF ECONOMIC
INSTITUTION
Before
I talk about the Family Institute in America,I will expalain the concept
economic based on http://www.businessdictionary.com/definition/economics.html
explained that The theories, principles, and models that deal with how the market process works. It attempts to explain how wealth is created and distributed in communities, how people allocate resources that are scarce and have many alternative uses, and other such matters that arise in dealing with human wants and their satisfaction.
On the other words, Economics is the study of the production and consumption
of goods and the transfer of wealth to produce and obtain those goods.
Economics explains how people interact within markets to get what they want or
accomplish certain goals. Since economics is a driving force of human
interaction, studying it often reveals why people and governments behave in
particular ways.
The historical of economy in America
have happened in 1945-1960 on the The postwar economy
era. In the decade and a half after World War II, the United States experienced
phenomenal economic growth and consolidated its position as the world’s richest
country. Gross national product (GNP), a measure of all goods and services
produced in the United States, jumped from about $200,000-million in 1940 to
$300,000-million in 1950 to more than $500,000-million in 1960. More and more
Americans now considered themselves part of the middle class. The growth had
different sources. The economic stimulus provided by large-scale public
spending for World War II helped get it started. Two basic middle-class needs
did much to keep it going. The number of automobiles produced annually
quadrupled between 1946 and 1955. A housing boom, stimulated in part by easily
affordable mortgages for returning servicemen, fueled the expansion. The rise in
defense spending as the Cold War escalated also played a part.
The first years of the new century unleashed a new threat
to peace and democracy: international terrorist attacks that killed and maimed
thousands in the United States and around the world. Just as it has with
earlier dangers, the United States took up this formidable challenge in unison
with its allies. At the same time, it coped with changes sparked by
globalization, fast-paced technological developments, and new waves of
immigration that have made American society more diverse than in the past. The
country sought to build upon the achievements of its history, and to honor
those who have sacrificed in its cause.
Depend
on http://usa.usembassy.de/etexts/oecon/chap2.htm
The United States is often described
as a "capitalist" economy, a term coined by 19th-century German
economist and social theorist Karl Marx to describe a system in which a small
group of people who control large amounts of money, or capital, make the most
important economic decisions. Marx contrasted capitalist economies to
"socialist" ones, which vest more power in the political system. Marx
and his followers believed that capitalist economies concentrate power in the
hands of wealthy business people, who aim mainly to maximize profits; socialist
economies, on the other hand, would be more likely to feature greater control
by government, which tends to put political aims -- a more equal distribution
of society's resources, for instance -- ahead of profits.
