CHAPTER 1: The Challenges of this Century 1
The world’s largest and most diverse economy faces the most severe economic challenges in a generation or more.

CHAPTER 2: The Evolution of the U.S. Economy 10
The economy has expanded and changed, guided by some unchanging principles.

CHAPTER 3: What the U.S. Economy Produces 48
The large U.S. multinational firms have altered their production strategies and their roles in response to globalization as they adapt to increasing competition.

CHAPTER 4: Competition and the American Culture 62
Competition has remained a defining characteristic of the U.S. economy in the American Dream of owning a small business.

CHAPTER 5: Geography and Infrastructure 76
Education and transportation help hold together widely separated and distinct regions.

CHAPTER 6: Government and the Economy 90
Much of America’s history has focused on the debate over the government’s role in the economy.

CHAPTER 7: A U.S. Economy Linked to the World 114
Despite political divisions, the United States shows no sign of retreat from global engagement in trade and investment.

CHAPTER 8: A New Chapter in America’s Economic Story 130
The United States, in its democratic way, faces up to immense economic challenges.