A. The United States experienced several ways of business concentration

B. Because of the cyclical nature of business activity employment rates and investment levels ate constantly fluctuating.

C. Labour unions seemed to be losing ground.

D. Private interests turned constantly to government for help.

A number of recurrent themes weave themselves through the fabric of American business life. A few of them are:

1. What is the role for government? For more then two centuries, the theory of laissez-faire has dominated government policy toward American business. The great prophet of “laissez-faire" was the 18th century Scottish philosopher Adam Smith, whose еconomiс ideas had a strong influence on the development of capitalism.

Devotion to laissez-faire has not prevented private interests in the United States from turning to the government for help on numerous occasions. Farmers, manufacturers, labour unions, bankers and others have sought government, assistance in many forms, from tax benefits to outright susidies. Thus, there has been a constant give-and-take between the theory of laissez-faire аnd concrete demands for government help for a specific economic purpose.

2. Protectionism or free trade? A second recurrent theme has been the debate over trade policy. As a rule, manufacturers and industrial workers have been the strongest supporters of protectionism.

3. Big business or small business? Since about the time of the Civil War (186l - 1865), the United States has experienced several waves of business concentration. Supporters of concentration have argued that only large enterprises can benefit from the advantages of scale that accompany modern industrial methods. The larger a business grows, the lower its overhead costs per until tend to be. If American businesses had not grown bigger, they would have been unable to compete with large competitors, supporters of concentration say. Few, if any, American believe that complete return to small-scale enterprise would be either possible or desirable.

4. Relations between management and labor. While management has usually held the upper hand in management-labor disputes in the United States, organized labor, promising higher wagers and improved benefits, made major gains under laws adopted by Congress in 1930s. However in recent years, labor unions have seemed to be losing ground. Their bargaining power declined - and management's strengthened - during the economic downturns of the 1970s and 1980s.

5. The ups and downs of the business cycle. Business activity in the United States has followed a cyclical pattern of ups and downs, as it is common in market economies. The period of time from the peak (high point) to the trough (low point) of a cycle varies greatly from as little as three to as many as 15 years. Because of the cyclical nature of business activity, such economic indicators as employment rates and investment levels are constantly fluctuating.

2. Пользуясь словарём, уточните значение и произношение слов:

То prevent (from], to turn (to), tax breaks, purpose, give-and-take, to split (into), to experience, accompany, cycle, to tend.

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