Why US economy is so powerful?

Question

Why US economy is so powerful?

Mudassir Ali 8 months 1 Answer 117 views

Answer ( 1 )

  1. Originally Answered: Why is the US economy so strong?
    For a couple of hundred years the US had a very favorable environment for businesses to start and grow. We’ve had the rule of law, so you don’t have to worry too much about a dictator seizing your company. We’ve had a democracy, which reduces the likelihood of civil wars (we’ve only had one, and it was a lulu!). We’ve had a young and growing population, which is good for economies. We’ve had a good education system, partly the result of the federal government providing land to colleges (which they could sell to finance operations). We’ve had no more than a tolerable level of government corruption.

    Over the last 20 years we have been creating more restrictions on businesses, so we likely will not grow over 2% per year on average in the future, but there’s a lot of momentum behind the strongest economy in the world, and it will take awhile to drag it down.

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