1. Lecture 3 American Economy
I. Industrial Revolution (18th century )(工业革命）
New developments in America
1. The introduction of the factory system
Samuel Slater (Englishman )
a cotton textile mill (棉纺厂)
in Rhode Island
America : manufacturing center/ cotton producer

4. Lecture 3 American Economy
2. The “American system” of mass production （大规模生产）
started from firearms 军火
Eli Whitney : invented the cotton gin 扎棉机
began making guns with machines
Henry Ford(automaker) introduced the “moving assembly” line 流水线

6. Lecture 3 American Economy
3. The application of mew technology into industrial tasks
new inventions: steam engine … P69
4. The emergency of new forms of business organizations( banks, corporation)
High technology P 71
Service industry

8. Lecture 3 American Economy
II. Free Enterprises (自由经济）
1.capital (资本）P71—72
2.stock trading (股票交易)
3. Problems in the 19th century

10. Lecture 3 American Economy
III. The roots of affluence ( 富裕的根源)P 73
IV American Agriculture
1. Its role
2. Agribusiness 农业产业
3. Adopting new technology—one of the strengths of American agriculture
4. Farmer/ farmer owner/ tenant 佃农/ migrant workers 流动工人
5. Damage to the environment

12. Lecture 3 American Economy
Summary
Question:What do you know about American economy?