The ancient world presented a time when there was no civilization, and people acted for their selfish gains. There were no laid out laws that could guide the actions of individuals. The ancient world was also characterized by wars that were fueled by hate and revenge. This is evidenced by the world wars that were experienced during this time and financial crises. Slavery and colonization also dominated the ancient world. These actions and much more that happened in the ancient world brought a lot of changes to the economy of the United States. The development of industries in the mid 80s was an evidence of an economic disturbance in the U.S.A. In the ancient world, individuals had no knowledge of how to operate machines to help them in doing their jobs and as such they used simple tools such as stones to run their operations. Even though the industrial revolution began in Britain, it was later adopted by the United States after a crisis between the two countries ensued. The United States and Britain were traded partners, and when in one instance, the British government attacked a U.S ship, the trade agreements were cut and the United States felt the need to develop their industries and transport systems. America had first to build effective roads that could help them easily carry their goods. After that, they upgraded the industries and ensured that they were effectively up and running. The law that brought the industrial revolution to the United States was known as the Embargo Act.
Another notable economic booster to the United States after the ancient world was the development of the agricultural industry also around the 19th century. Before the development of industries and the manufacturing processes, agriculture was the backbone of the economic survival of the United States. This is because the country had a lot of idle farms and human power which could be used to work on these farms. The United States was motivated to improve the agricultural sector in various ways. Part of the reason for the agricultural revolution was the increase in the population of the citizens who needed to be fed. At this time, the United States was not exporting agricultural products and as such had to depend on what it grew.
First, the country increased its farmland by over half of what was already in existence. It also expanded its market to other western nations to which it could sell these products because the country had some surplus. The United States also developed machinery that could aid the farmers in doing their work faster and quickly. Such machines included the cradle and the reaper. After the machines, industries were now developed, and farm products could be processed and stored. Due to this, the farmers had a way of earning a living, and this motivated them to work even more. The United States also introduced agricultural sources into their studies, and this led to the rise of professionals that could teach others about agriculture. Up to now, agriculture is still among one of the most significant economic boosters of the United States.
The finance and banking sector existed in the United States even in the ancient world. During this time, coins were used as a means of exchange and the merchants acted as the bankers, and they were from Britain. With the increased economic development in the United States and the financial crisis that hit the world, there was a need to develop the financial and banking system. Financial crises were caused by poor handling of banking activities and the effects of the great economic depression that led to the devaluation of the dollar. The need to do away with coins that were used in the ancient world also motivated the development of banks. People were holding a lot of money in their hands and as such the currency in circulation was too much and could lead to inflation. The government figured out that the best way to handle this issue was to store money in the banks and use them in investment projects. This also led to the online banking in which customer details were documented in ledgers to avoid carrying too much cash around.
After the development of the banks across the country, there was still need to manage these banks from a central point as cases of financial crisis or accounting scandals rocked some of these banks. This is what forced the government to develop a federal bank that required all other smaller banks to adhere to the guidelines that it laid out. Also, laws were enacted to regulate how these banks would operate, and the consequences of disobeying the laws were also laid out.
Finally, the ancient world also boosted the education system in the United States. Even though there existed teaching before, it was not effective because no one had the knowledge of running machines or using technology. The need to know this led to the United States developing its education sector to provide individuals that could do this work.
The ancient world had many disadvantages to the United States, but they all acted as an eye opener to development. It is because of the ancient world behavior that the United States is a world superpower regarding economic development.
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Which of the Following of Our Institution(s) Do You Feel Was Most Impacted by the Ancient World?. (2021, Mar 25). Retrieved from https://proessays.net/essays/which-of-the-following-of-our-institutions-do-you-feel-was-most-impacted-by-the-ancient-world
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