The second edition of this successful and pioneering textbook takes a thematic approach to the subject, resulting in a comprehensive understanding of the historic development of economic issues in the United States. It provides both the theoretical foundations and historical background needed to gain an in-depth understanding of the American economy. Every chapter examines a specific topic, and the chapters are linked to each other to provide an overall view and to help students link events from the past to the modern day. The chronological approach is represented with a useful timeline as an appendix to show where the specific topics fit in the chronology. Chapter topics include: long-run causes of economic growth; economic history of income and wealth inequality; slavery, segregation, and discrimination; immigration and immigration policies; and an economic history of recessions and depressions.

New to this edition:

• New Part structure to organise the content around the specific themes that exist in the book (these are: economic growth, distributional issues, economic fluctuations and the relationship between markets and government)
• A new appendix introducing multiple regression theory, helping students to understand the most commonly used empirical tool in the economic sector.
• New Tour of the Book to enable instructors to see the key features at a glance
• New content on:
• The economic impact of Covid and comparisons with the Spanish flu pandemic of 1918-1919
• The technology and service sectors
• The impact of new ways of working (e.g. gig economy; digital transformation)
• Updated coverage of:
• The financial system
• Supply chain and logistics
• The Great Depression and the New Deal
• Native American economic experience
• Increased reference and inclusion of empirical data and economic theory
• New feature 'Making Connections' to help students connect the past with the present
• New feature 'Debating' offers two opposing viewpoints on a topic to encourage students to consider alternative perspectives
• New online resources: a companion website resources for instructors, including PowerPoints, additional end of chapter review questions and multiple choice questions with corresponding answers.