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Microeconomics: United States Economics

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  1. Introduction
  2. The United States: Humble beginnings
  3. The econimic difference between the eighteenth and nineteenth centuries
  4. Major inventions
  5. Problems for the US economy in the twenty first century
  6. Conclusion
  7. Works cited

Most people I know have iPods, drive high-horsepower automobiles with complex inner workings, and pay little attention to newspaper articles regarding oil, stocks, and debt. First off, nobody wants to think about the avalanche amount of debt that's accumulating and what it can do to an economy and second, it's just a safely lodged belief that the United States is the most powerful country in the world and will always be?regardless of what the current economy seems to predict. In any case, this kind of confidence in American thought didn't sprout overnight; it's the product of over three hundred years of economic growth that put this nation at the forefront of the world stage

[...] The fact that when the Shanghai stock exchange in China crashed a month ago and the United States' market was heavily affected shows the impact a country with the highest stock of United States reserves can have. As China is the United States' biggest lender, the United States has to constantly raise interest rates in order to keep borrowing. This is a downward spiral and only puts the country into more debt. Sooner or later, lenders are going to realize that the United States can't possibly pay back all that it has borrowed and when they try to get rid of the dollars they're holding, the value of the dollar would plummet and the United States economy could enter a depression. [...]

[...] The United States steadily amassed wealth after World War II because pent-up consumer demand fueled exceptionally strong economic growth in that post-war period. A housing boom stimulated by affordable prices for war veterans added to the expansion. The baby boom increased the number of consumers and more Americans joined the middle class. The class structure of America was unique, as it was fluid and Americans embraced the idea of moneymaking, taking risks in business enterprises and enjoying the rewards of power that business success brought them. [...]

[...] If the United States does not cut down dependency on cheap, import goods and crude oil, the economy most definitely will flounder. Technological inventions and advances, for which the United States is so famous for, should now focus on finding alternative resources to fuel so that the economy doesn't have to be so vulnerable and controlled by the countries who supply this oil. The country should also focus on getting out of international conflicts and trying to solve other countries' problems. [...]

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