United States (U.S.A) Economy
A United States (U.S.A) Economy is a national economy within a United States of America.
- Context:
- It can (typically) be composed of a U.S. Manufacturers, ...
- It can (typically) have a U.S. Labor Market (of U.S. workers and U.S. employers).
- It can (typically) have U.S. Capitalists, ...
- It can (typically) have U.S. Economic Regulations (and be a lightly regulated economy).
- It can (often) be modeled as a Market-based Economy.
- It can (often) be measured by a U.S.A. Economic Measure, such as U.S.A. GDP.
- …
- Example(s):
- a 1873 U.S. Economy, (which excluded the 1873 Hawaii economy and included the 1873 Panic).
- a 1929 U.S. Economy.
- a 2008 U.S. Economy.
- a 2018 U.S. Economy.
- …
- Counter-Example(s):
- See: U.S. Household, U.S. Debt, U.S. GDP.
References
2013
- http://en.wikipedia.org/wiki/Economy_of_the_United_States
- The economy of the United States is the world's largest single national economy. The United States' nominal GDP was estimated to be 15.7 trillion in 2012, approximately a quarter of nominal global GDP. Its GDP at purchasing power parity is also the largest of any single country in the world, approximately a fifth of global GDP at purchasing power parity. The United States has a mixed economy[1][2] and has maintained a stable overall GDP growth rate, a moderate unemployment rate, and high levels of research and capital investment. Its five largest trading partners are Canada, China, Mexico, Japan, and Germany.
The US has abundant natural resources, a well-developed infrastructure, and high productivity.[3] It has the world's sixth-highest per capita GDP (PPP). The U.S. is the world's third-largest producer of oil and second-largest producer of natural gas. It is the second-largest trading nation in the world behind China.[4] It has been the world's largest national economy (not including colonial empires) since at least the 1890s.[5] As of 2010, the country remains the world's largest manufacturer, representing a fifth of the global manufacturing output.[6] Of the world's 500 largest companies, 132 are headquartered in the US, twice that of any other country.[7] The country is one of the world's largest and most influential financial markets. About 60% of the global currency reserves have been invested in the US dollar, while 24% have been invested in the euro. The New York Stock Exchange is the world's largest stock exchange by market capitalization.[8] Foreign investments made in the US total almost 2.4 trillion, which is more than twice that of any other country.[9] American investments in foreign countries total over 3.3 trillion, which is almost twice that of any other country.[10] Consumer spending comprises 71% of the US economy in 2013.[11] The labor market has attracted immigrants from all over the world and its net migration rate is among the highest in the world. The U.S. is one of the top-performing economies in studies such as the Ease of Doing Business Index, the Global Competitiveness Report,[12] and others. The US is ranked first globally in the IT industry competitiveness index.[13]
The US economy is currently embroiled in the economic downturn which followed the Financial crisis of 2007–2008, with output still below potential according to the CBO[14] and unemployment still above historic trends.[15] As of March 2013, the unemployment rate was 7.6% or 11.7 million people,[16] while the government's broader U-6 unemployment rate, which includes the part-time underemployed, was 13.9%.[17] With a record proportion of long term unemployed, continued decreasing household income, and new federal budget cuts, the US economy remained in a jobless recovery. At 11.3%, the U.S. has one of the lowest labor union participation rates in the OECD world.[18] Extreme poverty in the United States, meaning households living on less than $2 per day before government benefits, doubled from 1996 levels to 1.5 million households in 2011, including 2.8 million children.[19] The wealthiest 10% of the population possess 80% of all financial assets.[20]
Total public and private debt was 50.2 trillion at the end of the first quarter of 2010, or 3.5 times GDP.[21] In October 2012, the proportion of public debt was about 1.0043 times the GDP.[22] Domestic financial assets totaled $131 trillion and domestic financial liabilities totaled $106 trillion.[23] The US economy is regularly reviewed with comprehensive economic data analysis in the Beige Book[24] of the Federal Reserve System,[25] the Bureau of Economic Analysis of the Department of Commerce,[26][27] the Bureau of Labor Statistics[28] of the Labor Department and economic indicators[29] of the US Census.
- The economy of the United States is the world's largest single national economy. The United States' nominal GDP was estimated to be 15.7 trillion in 2012, approximately a quarter of nominal global GDP. Its GDP at purchasing power parity is also the largest of any single country in the world, approximately a fifth of global GDP at purchasing power parity. The United States has a mixed economy[1][2] and has maintained a stable overall GDP growth rate, a moderate unemployment rate, and high levels of research and capital investment. Its five largest trading partners are Canada, China, Mexico, Japan, and Germany.
- ↑ U.S. Economy and Business – Conditions and Resources. U.S. Department of State. "The United States is said to have a mixed economy because privately owned businesses and government both play important roles." Accessed: October 24, 2011.
- ↑ (4)Outline of the U.S. Economy – (2)How the U.S. Economy Works. U.S. Embassy Information Resource Center. "As a result, the American economy is perhaps better described as a "mixed" economy, with government playing an important role along with private enterprise. Although Americans often disagree about exactly where to draw the line between their beliefs in both free enterprise and government management, the mixed economy they have developed has been remarkably successful." Accessed: October 24, 2011.
- ↑ Wright, Gavin, and Jesse Czelusta, "Resource-Based Growth Past and Present", in Natural Resources: Neither Curse Nor Destiny, ed. Daniel Lederman and William Maloney (World Bank, 2007), p. 185. ISBN 0-8213-6545-2.
- ↑ The Guardian – 11 February 2013 – China overtakes US in world trade – by Phillip Inman
- ↑ Digital History, Steven Mintz. "Digital History". Digitalhistory.uh.edu. http://www.digitalhistory.uh.edu/database/article_display.cfm?HHID=188. Retrieved April 21, 2012.
- ↑ Vargo, Frank (March 11, 2011). "U.S. Manufacturing Remains World’s Largest". Shopfloor. http://shopfloor.org/2011/03/u-s-manufacturing-remains-worlds-largest/18756. Retrieved March 28, 2012.
- ↑ Template:Cite news
- ↑ http://www.sfc.hk/web/doc/EN/research/stat/a01.pdf
- ↑ "CIA – The World Factbook". Cia.gov. https://www.cia.gov/library/publications/the-world-factbook/rankorder/2198rank.html. Retrieved April 21, 2012.
- ↑ "CIA – The World Factbook". Cia.gov. https://www.cia.gov/library/publications/the-world-factbook/rankorder/2199rank.html. Retrieved April 21, 2012.
- ↑ "Personal consumption expenditures (PCE) gross domestic product (GDP)" FRED Graph, Federal Reserve Bank of St. Louis
- ↑ Template:Citation[dead link] Click the link "Rankings" to access the entire list.
- ↑ IT industry competitiveness index
- ↑ Chart Book: The Legacy of the Great Recession — Center on Budget and Policy Priorities. Cbpp.org (2013-07-09). Retrieved on 2013-07-21.
- ↑ Bureau of Labor Statistics Data. Data.bls.gov (2010-12-01). Retrieved on 2013-07-21.
- ↑ Employment Situation Summary. Bls.gov (2013-07-05). Retrieved on 2013-07-21.
- ↑ Table A-15. Alternative measures of labor underutilization. Bls.gov (2013-07-05). Retrieved on 2013-07-21.
- ↑ Trade Union Density OECD. StatExtracts. Retrieved: 1 May 2013.
- ↑ "Extreme Poverty in the United States, 1996 to 2011" National Poverty Center, February 2012
- ↑ Template:Citation
- ↑ Template:Citation
- ↑ "World Debt". usdebtclock.org. http://www.usdebtclock.org/world-debt-clock.html. Retrieved January 31, 2013.
- ↑ Template:Citation
- ↑ FRB: Beige Book. Federalreserve.gov. Retrieved on 2013-07-21.
- ↑ FRB: Federal Reserve Districts and Banks. Federalreserve.gov (2005-12-13). Retrieved on 2013-07-21.
- ↑ U.S. Bureau of Economic Analysis (BEA). Bea.gov. Retrieved on 2013-07-21.
- ↑ BEA : Current Releases. Bea.gov (2013-07-03). Retrieved on 2013-07-21.
- ↑ U.S. Bureau of Labor Statistics. Bls.gov. Retrieved on 2013-07-21.
- ↑ US Census Bureau: Economic Indicators. Census.gov. Retrieved on 2013-07-21.
2012
- (Krugman, 2012b) ⇒ Paul R. Krugman. (2012). “Robots and Robber Barons.” In: The New York Times - Opinion, 2012-12-10 Journal.
- QUOTE: The American economy is still, by most measures, deeply depressed. But corporate profits are at a record high. How is that possible? It’s simple: profits have surged as a share of national income, while wages and other labor compensation are down. The pie isn’t growing the way it should — but capital is doing fine by grabbing an ever-larger slice, at labor’s expense.
1991
- (Reich, 2010) ⇒ Robert B. Reich. (1991). “The Work of Nations: Preparing Ourselves for 21st Century Capitalis." ISBN:0-679-73615-8