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Line 233: − [[File:USA GNP growth from january 1947 to January 2023.jpg|1250px|thumbnail|center|Chart of the growth of U.S. GNP from January 1947 to January 2023.+ − <br /> − <br /> − The United States is consistent in the growth of the [[money supply]] reflected in its GNP over decades and its recovery from [[stimulus]] spending has occured largely as a result of [[Keynesian economics]], printing money, and piling on the [[national debt]].<ref>[https://www.fff.org/explore-freedom/article/the-follies-and-fallacies-of-keynesian-economics/ The Follies and Fallacies of Keynesian Economics], by Richard M. Ebeling, Future of Freedom Foundation, February 16, 2016.</ref><ref> [https://www.freedomworks.org/keynesian-economics-still-failing-after-all-these/ Keynesian Economics: Still Failing After All These Years, Freedom Works, 04/30/2013.</ref><ref>[Peak Debt – Why The Keynesian Money Printers Are Done], by [[David Stockman]], ''The Millennium Report'', September 28, 2014.</ref>]] − {{Clear}}
United States of America (view source)
Revision as of 21:09, August 28, 2023
, 21:09, August 28, 2023→Diversification of the economy in the United States
{{See also|MAGAnomics}}
{{See also|MAGAnomics}}
Although the [[United States]] is rich in natural resources, some people maintain it has a highly diversified economy.<ref>[https://www.thebalancemoney.com/how-natural-resources-boost-the-u-s-economy-3306228 U.S. Natural Resources]</ref><ref>[https://www.worldatlas.com/articles/countries-with-the-most-diverse-economies.html#:~:text=Most%20Diverse%20Economies-,Japan,the%20sophistication%20of%20its%20exports. Countries With The Most Diverse Economies]</ref><ref>[https://www.nationsencyclopedia.com/economies/Americas/United-States-of-America-OVERVIEW-OF-ECONOMY.html#:~:text=Although%20there%20is%20great%20diversity,agriculture%20accounts%20for%202%20percent. United States of America - Overview of economy], Encyclopedia of the Nations Americas United States of America</ref> Others, such as [[Donald J. Trump]], would dispute this; the US has primarily a service sector economy with 68% of all jobs in the service sector and a massive reduction in manufacturing jobs since the early 2000s,<ref>https://www.huffpost.com/entry/manufacturing-is-a-job-multiplier_b_58adedede4b01f4ab51c7582/amp</ref> hollowing out the [[middle class]].<ref>https://www.forbes.com/sites/ericjackson/2011/04/27/how-do-you-fix-the-hollowing-out-of-the-middle-class/?sh=1028d6e916f9</ref> Nowhere was it more obvious than during the [[covid pandemic]], when the public realized America was dependent on foreign imports from [[China]] for [[antibiotic]]s, covid masks, or other [[PPE]]s.<ref>https://www.youtube.com/watch?v=wwxEYY7K-Jw</ref> Likewise, the [[NATO war in Ukraine]] highlighted America's loss of an industrial manufacturing base to build and supply weapons or replenish stockpiles.<ref>https://www.rusi.org/explore-our-research/publications/commentary/return-industrial-warfare/</ref>
Although the [[United States]] is rich in natural resources, some people maintain it has a highly diversified economy.<ref>[https://www.thebalancemoney.com/how-natural-resources-boost-the-u-s-economy-3306228 U.S. Natural Resources]</ref><ref>[https://www.worldatlas.com/articles/countries-with-the-most-diverse-economies.html#:~:text=Most%20Diverse%20Economies-,Japan,the%20sophistication%20of%20its%20exports. Countries With The Most Diverse Economies]</ref><ref>[https://www.nationsencyclopedia.com/economies/Americas/United-States-of-America-OVERVIEW-OF-ECONOMY.html#:~:text=Although%20there%20is%20great%20diversity,agriculture%20accounts%20for%202%20percent. United States of America - Overview of economy], Encyclopedia of the Nations Americas United States of America</ref> Others, such as [[Donald J. Trump]], would dispute this; the US has primarily a service sector economy with 68% of all jobs in the service sector and a massive reduction in manufacturing jobs since the early 2000s,<ref>https://www.huffpost.com/entry/manufacturing-is-a-job-multiplier_b_58adedede4b01f4ab51c7582/amp</ref> hollowing out the [[middle class]].<ref>https://www.forbes.com/sites/ericjackson/2011/04/27/how-do-you-fix-the-hollowing-out-of-the-middle-class/?sh=1028d6e916f9</ref> Nowhere was it more obvious than during the [[covid pandemic]], when the public realized America was dependent on foreign imports from [[China]] for [[antibiotic]]s, covid masks, or other [[PPE]]s.<ref>https://www.youtube.com/watch?v=wwxEYY7K-Jw</ref> Likewise, the [[NATO war in Ukraine]] highlighted America's loss of an industrial manufacturing base to build and supply weapons or replenish stockpiles.<ref>https://www.rusi.org/explore-our-research/publications/commentary/return-industrial-warfare/</ref>
=== The USA was among the most 10 most diverse economies in 2018 according to the Word Atlas website ===
=== The USA was among the most 10 most diverse economies in 2018 according to the Word Atlas website ===
[[File:Countries with the most diverse economies.jpg|thumbnail|1000px|center|The USA was among the most 10 most diverse economies in 2018 according to the Word Atlas website.<ref>[https://www.worldatlas.com/articles/countries-with-the-most-diverse-economies.html#:~:text=Most%20Diverse%20Economies-,Japan,the%20sophistication%20of%20its%20exports. Countries With The Most Diverse Economies]</ref>]]
[[File:Countries with the most diverse economies.jpg|thumbnail|1000px|center|The USA was among the most 10 most diverse economies in 2018 according to the Word Atlas website.<ref>[https://www.worldatlas.com/articles/countries-with-the-most-diverse-economies.html#:~:text=Most%20Diverse%20Economies-,Japan,the%20sophistication%20of%20its%20exports. Countries With The Most Diverse Economies]</ref>]]