The purpose of this book is to examine the evolution of economic thought and the historical events that affected the economic growth of the worldas industrialized countries, with particular emphasis on the United States. During specific times in its history, the United States was the envy of the entire world. In the nineteenth century, the Europeans recognized that the America approach was different. It was the Europeans who originally coined the term the aAmerican System.a After World War II, the United States dominated the world in almost every aspect of global business, as they were clearly the world leader in manufacturing in both new product and new process development.