Overview

Date: 2015-10-07; view: 483.

A central feature of the U.S. economy is the economic freedom afforded to the private sector by allowing the private sector to make the majority of economic decisions in determining the direction and scale of what the U.S. economy produces. This is enhanced (увеличивать) by relatively low levels of regulation and government involvement, as well as a court system that generally protects property rights and enforces (приводить в исполнение) contracts. Today, the United States is home to 29.6 million small businesses, 30% of the world's millionaires, 40% of the world's billionaires, as well as 139 of the world's 500 largest companies.

From its emergence as an independent nation, the United States has encouraged science and innovation. As a result, the United States has been the birthplace of Great Inventions, including items such as the airplane, internet, microchip, laser лазер, cellphone сотовый телефон, refrigerator, email, microwave, Personal Computer, LCD (Liquid Cristal Display) and LED (Light Emitting Diode) technology, air conditioning, supermarket, bar code штрих-код на продукции, electric motor, and many more.

The United States is rich in mineral resources and fertile farm soil, and it is fortunate to have a moderate climate. It also has extensive coastlines on both the Atlantic and Pacific Oceans, as well as on the Gulf залив of Mexico. Rivers flow from far within the continent and the Great Lakes – five large, inland lakes along the U.S. border with Canada provide additional shipping access. These extensive waterways have helped shape the country's economic growth over the years and helped bind America's 50 individual states together in a single economic unit.

The number of workers and, more importantly, their productivity help determine the health of the U.S. economy. Throughout its history, the United States has experienced steady growth in the labor force, a phenomenon that is both cause and effect of almost constant economic expansion. Until shortly after World War I, most workers were immigrants from Europe, their immediate descendants потомки, or African Americans who were mostly slaves taken from Africa, or slave descendants.

Labor mobility has also been important to the capacity of the American economy to adapt to changing conditions. When immigrants flooded labor markets on the East Coast, many workers moved inland, often to farmland waiting to be tilled обрабатывать землю. Similarly, economic opportunities in industrial, northern cities attracted black Americans from southern farms in the first half of the 20th century, in what was known as the Great Migration.

In the United States, the corporation has emerged as an association of owners, known as stockholders, who form a business enterprise governed by a complex set of rules and customs. Brought on by the process of mass production, corporations, such as General Electric, have been instrumental in shaping the United States. Through the stock market, American banks and investors have grown their economy by investing and withdrawing capital from profitable corporations. Today in the era of globalization, American investors and corporations have influence all over the world. The American government is also included among the major investors in the American economy. Government investments have been directed towards public works, military-industrial contracts, and the financial industry.