Growth in the United States
One of the major reasons our economy has grown in such a large scale has not been just about one person or one factor. The US has relied on laborers, human capital and the land. Being one of the strongest economies, it has learned to use its natural resources to its advantage and has been able to create a large economy due to it.
The first advantage of growth in the U.S has been its richness in land and natural resources. The United States is abundant in mineral resources and fertile farm soil, and it is blessed with a moderate climate. “America also has extensive coastlines on both the Atlantic and Pacific Oceans, as well as on the Gulf of Mexico” (How the US Economy Works 1). Not only does the United States count …show more content…
Biotechnology has allowed farmers to create new kinds of seeds that not only are they disease resistant but also drought resistant. “Fertilizers and pesticides are commonly used…Computers track farm operations, and even space technology is utilized to find the best places to plant and fertilize crops” (American Agriculture: The Changing Significance 1).
Government spending have caused the economy to grow as well. Throughout history we see that it has shifted downfalls and has rebooted the income for Americans. “The growth of government since the 1930s has been accompanied by steady increases in government spending” (Monetary and Fiscal Policy …show more content…
“According to the Fiscal Policy Institute, small businesses owned by immigrants employed an estimated 4.7 million people in 2007, and according to the latest estimates, these small businesses generated more than $776 billion annually” (Furman, Gray 1). As new cultures become part of our country, we see that many of the goods manufactured here in the country are consumed more. “Immigrants boost demand for local consumer goods.” (Furman, Gray 1). By allowing more immigrants into its borders, the economy has seen an increase in the earnings of Americans. More earnings cause more spending thus causing the economy to grow. “Between 1990 and 2004, increased immigration was correlated with increasing earnings of Americans by 0.7 percent and is expected to contribute to an increase of 1.8 percent over the long-term, according to a study by the University of California at Davis” (Furman, Gray 1).
Since the discovery of the Americas, it has been known that immigration has played a big part when it comes to the labor force. The more workers cause there to be more production and it becomes more efficient. This gives a great boost for the economy. “Throughout its history, the United States has experienced steady growth in the labor force, and that, in turn, has helped fuel almost constant economic expansion” (How the US Economy Works
One of the major reasons our economy has grown in such a large scale has not been just about one person or one factor. The US has relied on laborers, human capital and the land. Being one of the strongest economies, it has learned to use its natural resources to its advantage and has been able to create a large economy due to it.
The first advantage of growth in the U.S has been its richness in land and natural resources. The United States is abundant in mineral resources and fertile farm soil, and it is blessed with a moderate climate. “America also has extensive coastlines on both the Atlantic and Pacific Oceans, as well as on the Gulf of Mexico” (How the US Economy Works 1). Not only does the United States count …show more content…
Biotechnology has allowed farmers to create new kinds of seeds that not only are they disease resistant but also drought resistant. “Fertilizers and pesticides are commonly used…Computers track farm operations, and even space technology is utilized to find the best places to plant and fertilize crops” (American Agriculture: The Changing Significance 1).
Government spending have caused the economy to grow as well. Throughout history we see that it has shifted downfalls and has rebooted the income for Americans. “The growth of government since the 1930s has been accompanied by steady increases in government spending” (Monetary and Fiscal Policy …show more content…
“According to the Fiscal Policy Institute, small businesses owned by immigrants employed an estimated 4.7 million people in 2007, and according to the latest estimates, these small businesses generated more than $776 billion annually” (Furman, Gray 1). As new cultures become part of our country, we see that many of the goods manufactured here in the country are consumed more. “Immigrants boost demand for local consumer goods.” (Furman, Gray 1). By allowing more immigrants into its borders, the economy has seen an increase in the earnings of Americans. More earnings cause more spending thus causing the economy to grow. “Between 1990 and 2004, increased immigration was correlated with increasing earnings of Americans by 0.7 percent and is expected to contribute to an increase of 1.8 percent over the long-term, according to a study by the University of California at Davis” (Furman, Gray 1).
Since the discovery of the Americas, it has been known that immigration has played a big part when it comes to the labor force. The more workers cause there to be more production and it becomes more efficient. This gives a great boost for the economy. “Throughout its history, the United States has experienced steady growth in the labor force, and that, in turn, has helped fuel almost constant economic expansion” (How the US Economy Works