Question

In your opinion, what are the top five reasons for American economic growth and why?

Answer 1

An enterprising culture. Individuals in the U.S. indicate a drive to develop and expand companies, and a willingness to take risks. In the U.S. society, there is no punishment for defeat and starting over again. Only the graduates who go to college or a business school demonstrate a passion for entrepreneurship. Silicon valley innovations and other companies like Twitter encourage creative ism.

A financial system that encourages entrepreneurship. The U.S. has a more advanced equity capital system than the European countries, and a decenetralized financial structure that benefits local entrepreneurs. The equity financing network involves "angel investors" who are willing to fund start-up companies, as well as a very active venture capital industry that helps financing company growth. The national network of local small banks offering loans to new enterprises comprises more than 7,000 individual small banks which are relevant in their local communities.

Labour economies largely unimpeded by massive trade unions, state-owned corporations, or overly stringent labor laws connect employees and jobs. More than seven per cent of the labor force were unionized in the private sector. There are essentially no State-owned businesses. Although labour laws and legislation impact working practices and the rules on recruiting, they are much less onerous than they are in Europe.
Licensing laws at the State level are perhaps the most significant obstacle to career transition and interstate mobility.

An that population which represents both natural growth and immigration. The rising population means a younger workforce, and thus more versatile and trainable. A high degree of regional diversity in the U.S. increases labour force productivity. The higher average income rates makes the USA an enticing choice for motivated and creative young people all around the world. While immigration into the United States is limited, there are also special laws allowing admission to the U.S. workforce and a route to residency ("green cards") dependent on individual talent and corporate sponsorship.