Economy of the United States

U.S. economyeconomyAmerican economyUnited StatesUnited States economyUS economyeconomicthe American economic systemAmericanAmerican economics
The economy of the United States is a highly developed mixed economy.wikipedia
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List of countries by GDP (nominal)

Economic rank, by nominal GDP (2007)GDP (nominal)nominal GDP
It is the world's largest economy by nominal GDP and net wealth and the second-largest by purchasing power parity (PPP).
The United States is the world's largest economy with a GDP of approximately $20.513 trillion, notably due to high average incomes, a large population, capital investment, moderate unemployment, high consumer spending, a relatively young population, and technological innovation.

List of recessions in the United States

depressionrecessionsRecessions in the United States
In the 19th century, recessions frequently coincided with financial crises.
The NBER defines a recession as "a significant decline in economic activity spread across the economy, lasting more than two quarters which is 6 months, normally visible in real gross domestic product (GDP), real income, employment, industrial production, and wholesale-retail sales".

Great Depression

DepressionThe Great DepressionDepression era
For many years following the Great Depression of the 1930s, when danger of recession appeared most serious, the government strengthened the economy by spending heavily itself or cutting taxes so that consumers would spend more, and by fostering rapid growth in the money supply, which also encouraged more spending.
The decline in the U.S. economy was the factor that pulled down most other countries at first; then, internal weaknesses or strengths in each country made conditions worse or better.

Great Recession

late-2000s recessionrecessionlate 2000s recession
The U.S. economy experienced a serious economic downturn during the Great Recession, defined as lasting from December 2007 to June 2009.

United States housing bubble

Great Recessionhousing bubblehousing crisis
This "jobless recovery" overlapped with the building of a housing bubble and arguably a wider debt bubble, as the ratio of household debt to GDP rose from a record level of 70% in Q1 2001 to 99% in Q1 2008.
The impact of booming home valuations on the U.S. economy since the 2001–2002 recession was an important factor in the recovery, because a large component of consumer spending was fueled by the related refinancing boom, which allowed people to both reduce their monthly mortgage payments with lower interest rates and withdraw equity from their homes as their value increased.

Mixed economy

mixed economiesmixedmixed economic systems
The economy of the United States is a highly developed mixed economy.
Most contemporary market-oriented economies fall under this category, including the economy of the United States.

Immigration to the United States

The nation's labor market has attracted immigrants from all over the world and its net migration rate is among the highest in the world.
According to James Smith, a senior economist at Santa Monica-based RAND Corporation and lead author of the United States National Research Council's study "The New Americans: Economic, Demographic, and Fiscal Effects of Immigration", immigrants contribute as much as $10 billion to the U.S. economy each year.

List of the largest trading partners of the United States

9th largest trading partnerlargest trading partnerslargest U.S. trading partners
The largest U.S. trading partners are China, Canada, Mexico, Japan, Germany, South Korea, United Kingdom, France, India, and Taiwan.

African Americans

African AmericanAfrican-Americanblack
According to the U.S. Census men tended to have higher income than women while Asians and Whites earned more than African Americans and Hispanics.
African American-owned businesses account for approximately 2 million US businesses.

Manufacturing in the United States

manufacturingAmerican industrialAmerican industry
In 2016, it was the world's largest trading nation as well as its second-largest manufacturer, representing a fifth of the global manufacturing output.

New York Stock Exchange

NYSENew YorkThe New York Stock Exchange
The New York Stock Exchange and Nasdaq are by far the world's largest stock exchanges by market capitalization and trade volume.

Illegal immigration to the United States

illegal immigrationillegal immigrantsundocumented immigrants
The promise of high wages brings many highly skilled workers from around the world to the United States, as well as millions of illegal immigrants seeking work in the informal economy.
Research shows that illegal immigrants increase the size of the U.S. economy/contribute to economic growth, enhance the welfare of natives, contribute more in tax revenue than they collect, reduce American firms' incentives to offshore jobs and import foreign-produced goods, and benefit consumers by reducing the prices of goods and services.

Transportation in the United States

transportationMajor Investment Studytransportation funding
Transportation has the highest consumption rates, accounting for approximately 69% of the oil used in the United States in 2006, and 55% of oil use worldwide as documented in the Hirsch report.
The trucking industry provides an essential service to the American economy by transporting large quantities of raw materials, works in process, and finished goods over land—typically from manufacturing plants to retail distribution centers.

Income inequality in the United States

income inequalityincomeinequality
Income inequality in the United States has grown from 2005 to 2012 in more than 2 out of 3 metropolitan areas.


Some scholars contend that the shift to neoliberal social and economic policies starting in the late 1970s has expanded the penal state, retrenched the social welfare state, deregulated the economy and criminalized poverty, ultimately "transforming what it means to be poor in America".
The economists David Howell and Mamadou Diallo contend that neoliberal policies have contributed to a United States economy in which 30% of workers earn low wages (less than two-thirds the median wage for full-time workers) and 35% of the labor force is underemployed while only 40% of the working-age population in the country is adequately employed.


unemployedunemployment ratejob creation
As of December 2017, the unemployment rate in the U.S. was 4.1% or 6.6 million people.
The increasing US trade deficit with China cost 2.4 million American jobs between 2001-2008, according to a study by the Economic Policy Institute (EPI).


CAState of CaliforniaCalifornia, USA
The state of California is currently constructing the nation's first high-speed rail system.
, California's nominal GDP is larger than all but 4 countries (the United States, China, Japan and Germany).

North American Free Trade Agreement

NAFTANorth American Free Trade Agreement (NAFTA)North American Free Trade Agreement Implementation Act
It has free trade agreements with several nations, including NAFTA, Australia, South Korea, Israel, and few others which are in effect or under negotiating stage.
The Washington Post noted that a Congressional Research Service review of academic literature concluded that the "net overall effect of NAFTA on the U.S. economy appears to have been relatively modest, primarily because trade with Canada and Mexico accounts for a small percentage of U.S. GDP".

New York City

New YorkNew York, New YorkNew York City, New York
New York City remains the largest global center for trading in public equity and debt capital markets, driven in part by the size and financial development of the U.S. economy.

Tourism in the United States

tourismUnited StatesAmerican tourism
U.S. tourism sector welcomes approximately 60 million international visitors every year.
The United States economy began to slow significantly in 2007, mostly because of a real-estate slump, gas prices and related financial problems.

Developed country

developed countriesdeveloped worlddeveloped
The economy of the United States is a highly developed mixed economy.

List of countries by total wealth

National wealth31% of the total wealth in the worldglobal net wealth
It is the world's largest economy by nominal GDP and net wealth and the second-largest by purchasing power parity (PPP).