The economic history of the United states”, one scholar has written, “is the history of the rise and development of the capitalist system. “The colonist of the eighteenth century pushed forward what those of the seventeenth century had begun: the expansion and elaboration of an economy born in the great age of capitalist expansion. Our excellent natural resources paved the way for the development of abundant capital to increase our growth. Capital inckudes the tools-such as machines, vehicles, and buildings—that make the outputs of labor and resources more valuable. But it also includes the funds necessary to buy those tools. If a society had to consume everything it produced just to stay alive, nothing could be put aside to increase future productions. But if a farmer can grow more cron than his family needs to eat, he can use the surplus as seed to increase the nest crop, or to feed workers who build tractors. This process of capital accumulation was aided in the American economy by our culture heritage. Saving played and important role in the European tradition it contribute to American motivation to put something aside today for the tools to by tomorrow In line 7 the word “it” refers to ….​