Reasons for EEUU's Good Economy Essay Example

EEUU is a Spanish name "Estados Unidos" which means United State UE. The US has been ranked as one of the countries with the most prosperous economies due to factors such as the existence of few hindrances to trade or business growth in its history. This is because the government of US has undergone several phases to protect its worldwide deal for the last 2000 years. Therefore, among the many factors that have contributed to EEUU's good economy have been highlighted below.

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First, the USA is highly endowed with natural resources and historically has been determined to exploit these raw materials. EEUU is endowed with raw natural resources such as Gold, copper, coal, bauxite, silver, lumber, and others leading to a stable manufacturing sector. Also, the USA culture has put in place immense value on autonomous motivation and also boost innovations, and entrepreneurship such that nowadays, the USA government has been discouraging bad businesses, expecting that future changes by small-scale business operators will take place and also improve production and services. This kind of cycle is sometimes risky although it has led to the first economic expansion in the history of America.

There is also a substantial economic structure in America that has enabled for a great deal of elasticity in growth and development of businesses and great influence internationally that have mainly been facilitating international trade. EEUU is having a history of great immigration where the immigrants were providing both supplies of enough labor and inventions and innovations that enabled growth of the economy. In EEUU, there was a remarkable higher educational system, that allowed the US to realize highly skilled and qualified graduates who were able to learn the economy positively and in an advanced way.

Moreover, the EEUU's monetary policy has been stably maintained in its history, and hard they have ever allowed inflation to become part and parcel in their norm (Stiglitz, 352). This stability has dramatically provided a chance for economic growth and development. The US did not suffer much domestically when comparing it Europeans and Asia nations who suffered a lot during international conflicts hence the USA was having ample time and atmosphere for economic growth. The USA was invaded last in 1812, 200 years ago in contrast to China and Japan who experienced tremendous destruction in domestic industries that happened about 80 years ago.

Besides, the US geographical size is the third largest in terms of area and population. Russia and Canada are more prominent than the USA though they are having vast tracks of unusable land. These countries have more significant population compared to the US. China and India are having an escalating population and also pulling up from colossal damages of the 19th century although they are faced with harsh resource constraints. A country like Russia has never settled in its governance while Canada and Australia are underpopulated and these leave EEUU in the right spot.

The isolation characteristic of EEUU where it is surrounded by two oceans and also being a cold country to the north gave US protection since it has never worried about borders significant wars apart from a fight that occurred in pearl harbor. US military was operating far away from its territories in the past century. The other nations were bedding with their fiercest contestants that is; China-Japan, India-Pakistan, China-Russia and India-China making them to lack security hence the make a poor decision.

Conclusion

In conclusion, EEUU has good economy due to the abundant natural resources endowment, huge economic structure, stable monetary policy, big geographical area, and substantial population as well as isolation advantage. China economy is currently growing at a higher rate than EEUU and is presently stated as the leading country in economic growth.

Works Cited

Stiglitz, D. Joseph. "Moving beyond market fundamentalism to a more balanced economy." Annals of public and cooperative economics 80.3 (2009): 345-360.