Give me Liberty book of the United States history and survey its work in the classroom. The M5 economy and job issue occurred in the period of extraordinarily rapid economic growth of the United States. The Gross Domestic Product multiplied more than seven times and the per capita income doubled. This led to a high growth rate of the country’s economy due to an addition of new inputs through increasingly productivity (Dobrescu et al.,2016). A high rate of immigration and the substantial rise in the savings contributed to economic development.This was as a result of the expansion of the nation's transport and communication systems. The development permitted agricultural and mineral resources in the western US leading to profitable production.
Entrepreneurs formed a startup enterprise to exploit cutting-edge development in the steel, electricity and chemical industries. This was as a result of the Second Industrial Revolution. The entrepreneurs knew the Art of Money-Getting and other success manuals.Though the number of people who actually rose all the way from rags to riches was few, the country's business leaders showed that the majority had middle and upper-class backgrounds. The constitution facilitated entrepreneurship by creating the largest free-trade zone in the world (Debrusco et al., 2016). This was to prohibit state government from abrogating contracts with the value of money. As a result, the byproduct of the entrepreneurial pursuit was the emergence of large-scale business with the significant market power which was the side effect of the economic decisions made.
Delegate your assignment to our experts and they will do the rest.
I chose the economy and job as the issue at hand. In every economy, the entrepreneurs and managers bring together natural resources, labor, and technology to produce and distribute commodities (Peled, 2014). These different elements are organized and used to reflect a nation's political ideals and its culture. The US is termed as a ‘capitalist’ economy which describes a system in which a small group of people controls a large amount of money thus making most important economic decisions. Capitalists employ the economies to ‘socialists ‘ones which lay more power in the political system. The economy concentrates power in hand of wealthy businesspeople whom aim is to maximize profits. On the other hand, socialist economies feature more on the greater control of the government which is merely the equal distribution of societal resources. If True capitalism exists, the US government would intervene in the economies to limit the power and address many of the social issues associated with private commercial interests (Peled,2014). As a result American economy tend to be described as a ‘mixed economy’ with the government playing a big role alongside private enterprise. I access that the first ingredient of a nation’s economic system is its natural resource.
The US is rich in mineral resources and fertile farm soil. Extensive waterways have shaped the country’s economic growth which has bind all states to be a single economic unit. I also add labor to the assessment, which converts the natural resource into goods. The US has experienced a steady growth in the labor force which fuels the constant economic growth (Haddow, 2015). The immigrants flooded labor markets on the East Coast, many workers moved inland. Economic opportunities in industrial areas attracted black American from southern farms in the early 20 th century. Today the US consider human capital as key to successful modern, high-technology industries. Fawell views the US economy as a growing economy with more room for improvement.He disregards the capitalism view and targets the overall growth of the economy despite the fact that most of the wealthy are in a ruling (Haddow, 2015). The US should initiate the idea that ever one can make it in the country thus people require the freedom of choice and risk-taking to make this initiative real. People should possess the freedom to purchase what they want, say what you want.Despite the claim of selfishness related to the freedom, the US should ensure that the freedom and equality are upheld for socio-economic development.
References
Dobrescu, E., Pauna, B., & Saman, C. (2016). Selected Issues in Macroeconomic and Regional Modeling : Romania As an Emerging Country in the EU. Hauppauge, New York: Nova Science Publishers, Inc.
Haddow, R. S. (2015). Political Economy and Public Policy at the Turn of the Millennium . Toronto: University of Toronto Press, Scholarly Publishing Division.
Peled, A. (2014). Traversing Digital Information, E-Government, and Exchange. Cambridge, Massachusetts: The MIT Press.
