MBA备考商务英语泛读文选全集MBA备考商务英语泛读文选1The Great DepressionA depression is a period of drastic decline in the national economy, characterized by decreasing business transactions, falling prices, and high rates of unemployment. The Depression of 1929-40 will be ingrained in the minds of Americans for generations to come. (Even today, many presidential decisions are affected by memories of and by reading and learning about the Great Depression.) The tragic poverty and unemployment of that time have had no equal. Between October 1929 and the early 1940s, unemployment hit 25 percent of the work force, or about 13 million people (this compares to about 34 million, using 1990 figures). The value of goods and services produced in the country was cut in half, and stock market prices fell about 90 percent. The hopes and dreams that marked the 1920s came to a sudden end.Although the 1929 stock market crash was a major factor leading to the Great Depression, other factors contributed. Some of the culprits included:The actions of the Federal Reserve System.Installment buying.Overproduction of consumer goods and a decline in investment.Speculation.The crash of the stock market came early in the Depression, and its effects were less significant than the waves of bank failures that followed. The first wave came in October 1930, the second in March 1931, and the third in the last quarter of 1932. In each case, banks failed because savers panicked- Savers, fearful that the banks would collapse in the poor business climate, lined up to withdraw their funds. Banks did not (and still dont) keep on hand 100 percent of the cash deposited (they make loans to other people with their depositors money); they could not pay back all their depositors at once and thus went bankrupt. Millions of Americans lost their life savings in the bank failures.MBA备考商务英语泛读文选2A HISTORICAL REVIEW OF AMERICAN BUSINESS As we mentioned previously, economics involves learning about a societys use of limited productive resources to satisfy the unlimited desires of its citizens. American economic success arises from the freedom to own property, freedom of choice, freedom to earn a reasonable profit, sufficient natural resources, hard-working and educated people, and outstanding businessleadership. Throughout Americas history, business leaders have displayed their talents in organizing businesses, managing human resources, financing business,marketing goods and services, and using information resources. However, Americans have no guarantee of being world leaders in business transactions, know-how, and success. Today their business leadership is being challenged by creative, hardworking, astute competitors throughout the world, especially in Japan, Germany, Italy, South Korea, and Hong Kong.Historically ,the influences of many societies and cultures have formed the business values that helped make the United States a worldwide economic power.Lets review the stages hrough which American business has reached its present position in the world.MBA备考商务英语泛读文选2A HISTORICAL REVIEW OF AMERICAN BUSINESS As we mentioned previously, economics involves learning about a societys use of limited productive resources to satisfy the unlimited desires of its citizens. American economic success arises from the freedom to own property, freedom of choice, freedom to earn a reasonable profit, sufficient natural resources, hard-working and educated people, and outstanding business leadership. Throughout Americas history, business leaders have displayed their talents in organizing businesses, managing human resources, financing business,marketing goods and services, and using information resources. However, Americans have no guarantee of being world leaders in business transactions, know-how, and success. Today their business leadership is being challenged by creative, hardworking, astute competitors throughout the world, especially in Japan, Germany, Italy, South Korea, and Hong Kong.Historically ,the influences of many societies and cultures have formed the business values that helped make the United States a worldwide economic power.Lets review the stages through which American business has reached its present position in the world.MBA备考商务英语泛读文选3The New Deal Years When Franklin D. Roosevelt became president of the United States in 1933, the countrys economic system was paralyzed. One fourth of U.S. workers were unemployed, production of goods and services was down by half, and corporate profits were off by two thirds. Roosevelt made Americas economic prob-lems the focal poin .for both .domestic and foreign policies.The policies of his New Deal centered in two areas: unemployment and banking reform.Solving the unemployment problem proved very difficult. Roosevelt proposed, and Congress passed, a series of acts dubbed the alphabet acts because everyone referred to them by their initials. The National Industrial Recovery Act (NIRA),