Foreign Language Teaching and Research Press
7
1. The Colonial Period
❖Massachusetts—settled by Pilgrims to escape religious persecution
❖Other colonies—like Virginia and Pennsylvania, founded as business ventures
▪ producing a major portion of the world’s machinery, automobiles, oil, electrical energy, and chemicals.
❖Mixed economy
▪ emphasizing private ownership ▪ federal government—regulating businesses
Foreign Language Teaching and Research Press
9
1. The Colonial Period
❖English investors turned over colonial charters to the settlers.
▪ enormous political implications
• anti-trust laws
Foreign Language Teaching and Research Press
5
Ⅰ General Introduction
❖Private businesses produce most goods and services.
▪ Two thirds of the output goes to individuals; ▪ One third is bought by government and business.