10 Facts About US economy


Nation's US economy is fueled by abundant natural resources, a well-developed infrastructure, and high productivity.

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The U S economy is ranked first in international ranking on venture capital and global research and development funding.

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The US economy maintained high wages, attracting immigrants by the millions from all over the world.

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For many years following the Great Depression of the 1930s, when danger of recession appeared most serious, the government strengthened the US economy by spending heavily itself or cutting taxes so that consumers would spend more, and by fostering rapid growth in the money supply, which encouraged more spending.

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Ideas about the best tools for stabilizing the US economy changed substantially between the 1930s and the 1980s.

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Decisions about large swaths of the US economy were largely made for military purposes and nearly all relevant inputs were allocated to the war effort.

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In May 2020, CNN gave an analysis based on unemployment data that the US economy was perhaps the worst that it had been since the 1930s.

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Some scholars contend that the shift to neoliberal social and economic policies starting in the late 1970s has expanded the penal state, retrenched the social welfare state, deregulated the US economy and criminalized poverty, ultimately "transforming what it means to be poor in America".

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Manufacturing sector of the U S economy has experienced substantial job losses over the past several years.

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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.

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