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The invention of the cotton gin by American inventor Eli Whitney, combined with the widespread prevalence of slavery in the United States and U.S. settler expansion made cotton potentially a cheap and readily available resource for use in the new textile industry.
The economic history of the United States spans the colonial era through the 21st century. The initial settlements depended on agriculture and hunting/trapping, later adding international trade, manufacturing, and finally, services, to the point where agriculture represented less than 2% of GDP .
The prohibition of imports under the Embargo Act resulted in the expansion of new, emerging US domestic industries across the board, particularly the textile industry, and marked the beginning of the manufacturing system in the United States, reducing the nation's dependence upon imported manufactured goods. [20] [21]
American business history is a history of business, entrepreneurship, and corporations, together with responses by consumers, critics, and government, in the United States from colonial times to the present. In broader context, it is a major part of the Economic history of the United States, but focuses on specific business enterprises.
The United States Department of Commerce and Labor was a short-lived Cabinet department of the United States government, which was concerned with fostering and supervising big business. It existed from 1903 to 1913. The United States Department of Commerce is its successor agency, and it also is the predecessor of the United States Department ...
Commerce is the organized system of activities, functions, procedures and institutions that directly or indirectly contribute to the smooth, unhindered large-scale distribution and transfer (exchange through buying and selling) of goods and services at the right time, place, quantity, quality and price through various channels among the original producers and the final consumers within local ...
E-commerce enablement has had its ups and downs as a sector, particularly in terms of VC backing—in 2022, the space fell out of favor, but by this year has seen some recovery.
The United States Travel Service was established by the United States Secretary of Commerce on July 1, 1961, pursuant to the International Travel Act of 1961 (75 Stat. 129; 22 U.S.C. 2121 note) [5] The Economic Development Administration was created in 1965. In 1966, the Bureau of Public Roads was transferred to the newly created Department of ...