This new edition of History of the American Economy was deemed necessary because of the continued advance of research in economic history and the rapid changes unfolding in the United States and global economies. The struggle of many nations to convert from centrally controlled to market-led economies in recent decades, the rapid economic expansion of India and China, and the growing economic integration in Europe invite new perspectives on the historical record of the American economy. Moreover, the terrorist attacks of September 11, 2001, on the World Trade Center and the Pentagon and the subsequent wars in Afghanistan and Iraq have created enduring challenges for the United States. The financial crisis of 2008 and the slow climb back to full employment have reawakened concerns about stability of the financial system, about the level of economic inequality, and prospects for economic growth that have not been seen since the Great Depression of the 1930s. To properly convey the speed of change of American lifestyles and economic well-being, chapter 1 begins with a focus on twentieth-century American life, mostly but not entirely economic. The purpose is to show how dramatically different the way we live today is compared with the times of our grandparents and great-grandparents. The remarkable contrasts in living standards, length of life, and how we work and consume from 1900 to the present provide a “wake-up call” for the nation on the changes soon to unfold in our lives and in the lives of generations to come. This wake-up call serves a vital purpose:preparation for the future.

由于经济史研究的不断进步以及美国和全球经济的迅速变化，这本新版的《美国经济史》被认为是必要的。近几十年来，许多国家都在努力从中央控制型经济体向市场主导型经济体转变，印度和中国经济的快速扩张，以及欧洲经济一体化程度的不断提高，都为美国经济的历史记录带来了新的视角。此外，2001年9月11日对世界贸易中心和五角大楼的恐怖袭击以及随后在阿富汗和伊拉克发生的战争给美国带来了持久的挑战。2008年的金融危机和恢复充分就业的缓慢复苏，重新唤起了人们对金融体系稳定性和经济不平等程度的担忧，以及自20世纪30年代大萧条以来从未见过的经济增长前景。为了恰当地传达美国生活方式和经济福利的变化速度，第一章首先关注20世纪的美国生活，主要是但不完全是经济生活。我们的目的是展示我们今天的生活方式与我们的祖父母和曾祖父母的时代相比是多么的不同。从1900年到现在，在生活水平、寿命长短以及我们的工作和消费方式上的巨大反差，为国家敲响了警钟，提醒我们的生活和未来几代人的生活即将发生的变化。这个叫醒服务于目的：为未来。