United States: Difference between revisions

Revision as of 18:36, 18 October 2005

Revision as of 19:03, 18 October 2005

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== Economy ==

{{main|Economy of the United States}}

The economy of the United States is currently organized on the [[neo-liberal]] model, which advocates limited [[government regulation|government intervention]] in the economy and trade, and advocates greater [[corporate rights]]. Previously, the United States was a proponent of [[Keynesian economics]]. The United States falls behind most industrialised countries in terms of [[social welfare]] and its [[social safety net]].

The economy of the United States is organized primarily on a [[capitalism|capitalist model]], with some [[government regulation]] in many industries. There are also some [[social welfare]] programs like [[Social Security (United States)|Social Security]] and [[unemployment benefits]], Temporary Assistance to Needy Families ("[[welfare]]"), the [[Earned Income Tax Credit]], [[Medicare (United States)|Medicare]], and [[Medicaid]]. Such departures from a pure [[free market|free-market]] economy have generally increased since the late 1800s, but are less pronounced in the United States than in other industrialized countries.

[[Image:US_%241_obverse.jpg|left|thumb|220px|The [[United States dollar|U.S. dollar]] is the official currency.]]

The countrylargest hasindustry richof the U.S. is now [[mineralTertiary sector of industry|service]], resourceswhich employs roughly three-quarters of U.S. residents. The US Finacial sector is the strongest in the world, withsuccesfully exploiting labour and resources primarily in nations open to the global economic policies enforced by the [[WTO]] and [[World Bank]]. In [[natural resource]] industries the country has extensive [[gold]], [[oil]], [[coal]], and [[uranium]] deposits. SuccessfulIn the [[Agriculture|farm industries]] rankindustries the countryUS amongis thea top producers of, among others, [[maize|corn]], [[soy beans]], [[wheat]], [[sugar]], and [[tobacco]]; the United States is a net exporter of food, and its rich wheat fields have been referred to as the "breadbasket of the world." The U.S. [[manufacturing|manufacturing]] sector]] produces, among other things, [[automobile|cars]], [[airplanes]], and [[electronics]]. The largest industry is now [[Tertiary sector of industry|service]], which employs roughly three-quarters of U.S. residents.

Economic activity varies greatly from one part of the country to another, with many industries being largely dependent on a certain city or region; [[New York City]] is the center of the American [[finance|financial]], [[publishing]], [[broadcasting]], and [[advertising]] industries; [[Silicon Valley]] is the country’s primary ___location for [[high technology]] companies, while [[Los Angeles]] is the most important center for [[film]] production. The [[Midwest]] is known for its reliance on manufacturing and heavy industry, with [[Detroit]] serving as the center of the American [[automotive industry]]; the [[Great Plains]] are known as “the breadbasket of America” for their tremendous agricultural output, while [[Texas]] is largely associated with the [[oil]] industry; the southeast is a major hub for [[medical research]], as well as many of the nation's [[textiles]] manufacturers.