How has the United States influenced U.S. long-run economic growth?
America defies all laws and norms of a standard text book Economics.A huge trade deficit,negative saving rate,virtually negligible production base and consistent over spending and plethora of negatives for the internal economy,it’s still a command economy in this world.Look at the sub prime issue,an internal matter for any country but has played havoc in the world stock markets.But for the American MNCs,it’s economy would have collapsed long time back.Based on the present parameters,there is only a bleak future for American economy as per standard economic theories.But,the question remains,does America care?Or,why should America care as long as long it can successfully make laws of economics stand on their heads and still be a super power?A prayer ,Long live America.
