National economy of the USA

The American economy is a free enterprise system that has been grown up from the labour (Am. labor) of millions of American workers; from the wants that American consumers have expressed in the marketplace and the efforts of private business; and from the activities of government officials at all levels who have undertaken the tasks to make the Americans' quality of life the best one and living standards high.

A wealth of minerals provides a solid base for American industry. The United States of America is a highly developed industrial country. It is the world's leading producer of copper and oil and the world's second producer of iron ore and coal. Among the most important manufacturing industries are the production of aircrafts, cars, computers and other hi-tech equipment, textiles, radio and television sets, armaments, furniture and paper. Together, ail sectors of the American economy produce almost $5,000 billion worth of goods and services annually, and each year they turn out almost twenty five times more. The consumption of these goods and services is spread widely. Most Americans consider themselves members of the middle economic class, and relatively few are extremely wealthy or extremely poor.

The government has strongly supported the development of transportation. It financed the major canal systems and later the railroads and the airlines, making the country's transport network the best one. it has extended electricity and scientific advice to farmers, and assures them a minimum price for their basic crops. It checks the purity of foods and drugs, insures bank deposits and guarantees long-term bans and mortgages to its citizens.

Despite the fact that the United States government supports many segments of the nation's economy, economists estimate that the public sector accounts for only one-fifth of American economic activity, with the remainder in private hands. In agriculture, for example, farmers benefit from public education, roads, rural electrification and support prices, but their land is private property. With increasingly improved farm machinery, seed and fertilizers, more food is produced each year, although the number of farmers decreases annually: just 50 years ago a farmer fed 10 persons, today the average farmer feeds 85. America exports about 550,000 million worth of farm products each year; it produces as much as half the world's soybeans and corn, and vegetable oil.

The bulk of American wealth is produced by private industries and businesses - ranging from giants like General Motors and IBM Inc. -to thousand of small, independent entrepreneurs.

American industries have become increasingly more service-oriented. Of 16 million new jobs created lately, almost 85 per cent have been in service industries: selling, stocks and goods speculations, hotel and tourism services, financial and auditor's advice, medical services and others.

Recently, unemployment in the USA was calculated at about 7 per cent, but the government provides short-term unemployment compensation to replace wages losses between jobs; and, in addition, it provides job training to help unemployed Americans.

Дата добавления: 2015-11-14