Between the years 1890 and 1910, United States became the largest economy of the world (Wright 3). The development of the distinctive American technology significantly contributed to industrial development. The continuation of the natural resources and mass production industries from the 19th century helped in consistent development of the nation till 20th century. The years 1900 to 1945, were mainly dominated by the two world wars, while the period of 1945 was mainly to avoid any kind of major wars. The dividing point was the significant period of technological emergence. These technological emergences lead to the detonation of the first atomic bomb at Alamogordo, in July 1945. The profound political changes in the 20th century also promoted United States as having the leadership in technological capacities. The many technological innovations of the 20th century originated in Europe and Britain, but United States had the capacity to assimilate the innovations and converted them in the commercial success. The main aspect of technological innovation in 20th century was not about the particular innovations, but it was mainly about the capability to adopt and implement new ideas in various technological forms. The nation increased the tangible investment in the human capital, mainly in terms of primary education (Wright 6).The main and new feature of the 20th century was the significant growth in industries and technology which generated new job opportunities for the Americans. Therefore, nation required more educated and skilled workers. Generating the jobs that favored educated workers was called as “Technology-Skill Complementarity” (Goldin and Katz 695).
After the World War II, the federal government of America initiated many new fronts that supported higher education and increased the supply of the scientists and engineers that significantly supported in industrial and technological growth. Government supported research studies for atomic research and science researches that contributed to economic growth of the nation (Wright 7). The internationalization of the new technologies led to many new dimensions that included the rise of increasing diversity in the different geographical locations, increase in the two way trade of the high quality products and rise of the foreign born qualified workforce. This led to “employees and entrepreneurs, the increasing tendency towards two-way migration flows of high-tech personnel and rapid globalization of internet usage” (Wright 13). The technological development in the areas of fuel and power were marked by the innovation of internal-combustion engine. This innovation was continuously improved for the new demands for the airplanes and the road vehicles. The inventions and technological innovation also gave rise to gas turbine engines for the marine, rails and roads. However, its main significance was seen in air transport.
In the current time, manufacturing remains the important industry and backbone of the America. Now the industries work under the broad range of activities that are being outsourced to other countries. With the rapid growth in the global market, the demand of the manufactured goods will remain increasing (Yakimov and Lindsey 8). The manufacturing policy of the federal government significantly supports industries and economic growth in the nation. However, US economy has witnessed a decline in indicators of technological dynamism, contributing to a growing concern about its capacity to create new work as old industries mature and decline (Berger and Frey 405). The indicators display that America is creating new companies and new jobs, which are significantly the result of the technological innovations.
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