For 200 years, there were considerable differences among U.S. regions in per capita incomes and economic growth. Individual states experienced periods of expansion and shrinkage as the fundamental business activities reigning their economy expanded and contracted. These changes resulted in significant migration of companies and individuals among areas and to a slow narrowing, since the 1930s, of regional differences. Over the period of 1990 to 2007, the United States experienced outstanding economic success. Many analysts expressed the view this economic success rested on productivity growth that was consistently high.
The public philosophy supported low taxes and low government expenditure for welfare, education and health, with a heavy reliance on the demand for each individual to succeed on one's own. In the second half of the 20th century, an overall recognition grown that intense international competition relies upon knowledge and innovation, and that knowledge has a major impact on economic growth. Each state, as well as each region within a country, has a distinct "initiation system." At the forefront has been the United States.
The U.S. Economy, 2009 Case Study Solution
PUBLICATION DATE: June 26, 2009 PRODUCT #: 909M45-HCB-ENG
This is just an excerpt. This case is about FINANCE & ACCOUNTING
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