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Economy of the United States

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Economy of the United States


Economy of the United States

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 قسمتی از محتوای متن 

 

Economy of the United States :

 

The economy of the United States is the largest national economy in the world. Its gross domestic product (GDP) was estimated as $14.2 trillion in 2008 . The U.S. economy maintains a high level of output per person (GDP per capita, $46,800 in 2008, ranked at around number ten in the world). The U.S. economy has maintained a stable overall GDP growth rate, a low unemployment rate, and high levels of research and capital investment funded by both national and, because of decreasing saving rates, increasingly by foreign investors. In 2008, seventy-two percent of the economic activity in the U.S. came from consumers.

 

Major economic concerns in the U.S. include external debt, entitlement liabilities for retiring baby boomers who have already begun withdrawing from their Social Security accounts, corporate debt, mortgage debt, a low savings rate, falling house prices, and a large current account deficit. As of September 2008, the gross U.S. external debt was over $13.6 trillion, the most external debt of any country in the world . The 2008 estimate of the United States public debt was 73% of GDP . As of March 2009, the total U.S. federal debt exceeded $10.9 trillion , about $37,850 per capita.

 

 

 

History

 

Main article: Economic history of the United States

 

The economic history of the United States has its roots in European settlements in the 16th, 17th, and 18th centuries. The American colonies progressed from marginally successful colonial economies to a small, independent farming economy, which in 1776 became the United States of America. In 230 years the United States grew to a huge, integrated, industrialized economy that makes up over a quarter of the world economy. The main causes were a large unified market, a supportive political-legal system, vast areas of highly productive farmlands, vast natural resources (especially timber, coal and oil), and an entrepreneurial spirit and commitment to investing in material and human capital. In addition, the U.S. was able to exploit these resources due to a unique set of institutions designed to encourage exploration and extraction. As a result, the U.S.'s GDP per capita converged on that of the U.K., as well as other nations that it previously trailed economically. The economy has maintained high wages, attracting immigrants by the millions from all over the world.

 

After the Great Depression

For many years following the Great Depression of the 1930s, when the danger of recession appeared most serious, government sought to strengthen the economy by spending heavily .....

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