what are the advantages of the u.s. economy?

Question

i need to explain what are the advantages of the u.s. economy system for my economics class

Answer 1

The United States has the largest national economy in the world, with a GDP for 2006 of 13.3 trillion dollars. It is the world's foremost economic power. In this mixed economy, corporations and other private firms make the vast majority of microeconomic decisions, and governments prefer to take a minimal role in the domestic economy. Because of this, the U.S. has a small social safety net, and business firms in the U.S. face considerably less regulation than those in many other nations. The fiscal policy of the nation since the New Deal has followed the general ideals of Keynesian economics, which replaced Hamiltonian economics following the Great Depression. Neoliberal ideals have become more prominent since the presidency of Ronald Reagan and with the growing influence of globalization. Since the early 1980s, the United States has transformed from being the world's largest creditor to world's largest debtor. As of 2006, the gross external debt has exceeded 10 trillion dollars or 70% of GDP, and continues to grow fueled by large current account and federal government deficits (collectively termed twin deficits)

The United States is an influential country in scientific and technological research and the production of innovative technological products. During World War II, the U.S. was the first to develop the atomic bomb, ushering in the atomic age. Beginning early the Cold War, the U.S. achieved successes in space science and technology, leading to a space race which led to rapid advances in rocketry, weaponry, material science, computers, and many other areas. This technological progress was epitomized by the first visit of a man to the moon, when Neil Armstrong stepped off of Apollo 11 in July 1969. The U.S. was also the most instrumental nation in the development of the Internet, developing its predecessor, Arpanet. The U.S. also controls most of its infrastructure.

In the sciences, Americans have a large share of Nobel Prizes, especially in the fields of physiology and medicine. The National Institutes of Health, a focal point for biomedical research in the United States, has contributed to the completion of the Human Genome Project. The main governmental organization for aviation and space research is the National Aeronautics and Space Administration. Major corporations, such as Boeing and Lockheed Martin, also play an important role.

Answer 2

Being a communist has no longer something to do with "dwelling in communes." Communists artwork to thoroughly abolish the capitalist device and replace it with socialism. In socialist societies (e.g. the U.S., the GDR, Cuba, the DPRK, and so on) the potential of production and distribution (i.e. factories, warehouses, railways, communications, potential plant life, and so on) are publicly owned by making use of the employees’ state. moreover, socialist economies are prepared via important making plans. The working type (and its allies) additionally are prepared because of the fact the ruling type and function a company monopoly on political potential, led by making use of their communist occasion. as properly, all workers in socialist worldwide places are prepared into unions, giving them optimal impression and administration over the functioning of their financial device. Such societies can in basic terms come into life because of the fact the outcomes of socialist revolution, the place the previous device is negated and replaced by making use of the hot.