Factors of stability of the US economy

In recent years, changes in the world economy have occurred due to the emergence of countries whose growth rate of the gross domestic product is far ahead of global indicators, which makes its own adjustments in the balance of influence in the world on relations between countries and competition for markets. In particular, China and India with a total population of over 2.6 billion people, (the third part of all people living on the planet), increasingly affect world trade and in the future, their role will only strengthen.

This forecast is justified by the growth rate of the economy, which in China since 2016, although not as high as before (8-12% per year for the period 1995-2008), but still significantly outpaces the global rate. For the next 2-3 years, an annual growth of about 7% is projected, with the world average level of + 3%. The high rates of development of the Chinese economy will increase GDP from $ 12.7 trillion in 2017 to $ 15.5 trillion in 2020 and slightly reduce the gap from the United States, while confidently retaining the second place in the world. The Indian economy is also developing at a fast pace - more than 7.5% per year and its GDP in 2017 was $ 2.6 trillion, $ 2.85 trillion is planned for 2018, and by 2020 the gross released product can reach $ 3, 3 trillion.

However, the United States will still remain the first country in the world to produce products with total GDP. At least in the foreseeable future (until 2030). This figure for the United States now, in 2018, exceeds $ 20 trillion and is unlikely to decrease in the near term. The phenomenon of the development of the US economy is worthy of every study and, to the extent possible, the use of the countries of the former USSR.

No doubt, the USA is a rich country. More specifically, the scale of its economic and financial activities can be represented visually. On the given map, each US state is signed by the name of the country, whose annual GDP roughly corresponds to the annual GDP of this state:

The GDP of the "golden state" of California in 2015 was equal to 2.448 trillion USD. If we imagine a situation in which California would be an independent country, it would occupy the 8th place in the world GDP ranking. And if all the states of the North American federation are presented in the world table of ranks as separate countries, then three of them - California, Texas and New York - would be included in the top 15 most developed economies of the world.

By the way, in our place of Brazil in our example with a map, which has 1.796 trillion USD (2016) and a population of 200 million people, Russia could well have been - 1.283 trillion USD (2016), if she could double her indicators.

The US economy has been developing dynamically based on a reasonable economic model, which is based on the following growth factors:
  • the scientific picture of the world process of economic life (the government used the recommendations of economists, many of whom were Nobel laureates and made an invaluable contribution to the prosperity of the country);
  • improvement of labor operations, use of the development of scientific potential and experimental design based on the use of the achievements of world science, with a US population of 320 million people, the number of scientists and engineers employed in the field of science, more than 4 million people. Yes, there are more scientists in the USA than those employed in agriculture;
  • rational use of rich natural resources - minerals, forests, water, land resources, flora and fauna, the organization of reserves, parks, etc .;
  • putting into practice the achievements of scientific and technological progress - the latest technology and production technologies, work organization, robotization of labor-intensive production processes, expanding the range of new products based on high technologies, new management methods;
  • the constant renewal of the production potential of firms using the most advanced machines and equipment;
  • development of economic thinking of personnel and use of economic categories, such as cost, profit, expenses, income, productive forces and production relations, forms of organization of production, exchange, distribution, consumption, capital, investment, and others;
  • minimal regulation of the economy by the state apparatus and stability of the rules for organizing and operating a business; mobile and vigorous labor, attracting immigrants, industrial training of workers and managers to new methods of performing labor operations;
  • control over productivity and remuneration, depending on the functions and qualifications of the staff;
  • rational structure of the economy (industry - 21%, agriculture - 1%, services - 78%). The industrial complex includes almost all industries represented in the world engineering production. Agriculture provides all the needs of the country and exports a significant part (the production of grain annually amounts to 440 million tons, of which 60 million tons are exported);
  • formation of a large domestic market, sound foreign economic policy, balanced export and import in terms of cost and range;
  • creation of developed infrastructure and logistics, transport network and communications that meet the best international standards;
  • the creation of a cult of entrepreneurship (entrepreneurs can be considered only those who, risking capital, develop new types of products or activities that have no analogs);
  • use of innovations in operating business (American business accounts for 50% of innovations introduced by all countries of the world);
  • creation of a high production culture and a special lifestyle that is open to everything new and progressive in all spheres of human activity.
A unique combination of these factors can hardly be copied and used in the economies of the post-Soviet countries, although some of them are advisable to implement, if not in all enterprises, then at least in medium and large ones. No need to reinvent the wheel, it is better to use the proven experience of other countries with a certain adjustment to it, taking into account new management models and binding to the specific conditions of our business.

It is important to choose a strategic goal and consistently go to achieve it. Without understanding the objectives of business development and the search for adequate management models, it is impossible to succeed either domestically or internationally, so studying the US experience can give a certain impetus for the birth of business ideas and accelerate the growth rate of our economy.

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