When there is an increase in the real output of the economy of a nation then that is what is referred to as economic growth (Heinberg, 2011). This economic growth is measured in terms of the level of production of goods and services in the nation. In a country’s setting, the economic variables both micro and macro-economic variables are covered by the economic growth. Economic growth experiences limits. This paper shall seek to identify some of the limits in U.S and how the government can fix them.
The variables in economic growth are interdependent thus; they hinder each other in the terms of economic growth (Heinberg, 2011). This is why the economic growth of U.S remains limited irrespective of the type of economic growth. The limits are classified into two main economic variables, resource limits and energy limits. The limits are usually met at the point where the marginal cost exceeds the marginal benefits (Heinberg, 2011). This shows that before the needs of the American citizens are met, the limits in the economic growth have been reached. The economic growth is enjoyed briefly and then challenges of interdependence hindrances are experienced.
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The government can rectify this, or rather minimize this limits by, facilitating development of the population to secure productivity in terms of its services (Weil, 2013). The government should come up with ways to bring in energy since it is another limit of economic growth. The brains of humans are other factors that limit economic growth and the key solution is for the government to come up with ways to educate the society.
References
Heinberg, R. (2011). The end of growth: adapting to our new economic reality . Forest Row: Clair view.
Weil, D. N. (2013). Economic growth . Boston, MA: Pearson Addison-Wesley.
