Collapse paper Essay Example | Topics and Well Written Essays - 1250 words

Collapse paper - Essay Example Economic history of the United States of America extends over a period of less than two and half centuries. Over the course of this period, the US economy had multiple series of progress and problems. The United States has grown from an alliance of thirteen British colonies with distinct economies and institutions to the unified state which nowadays accounts for more than fifth of the world economy ("Economic history of the US"). US economy today is based on three major elements. The first element is its natural resources. The continent of the United States has rich mineral resources and favorable terrain, as well as mild climate conditions. It also has broad access to the ocean and corresponding transportation routes, encompassing the coastlines of both the Atlantic and Pacific Oceans, as well as that of the Gulf of Mexico. Additional shipping routes are ensured by a host of rivers crossing the country and the Great Lakes along the border with Canada. These extensive transportation channels endorsed the economic growth of the USA, especially at early stages, and played a significant role in uniting America's 50 individual states into a full-fledged economic unit ("Economy of the United States"). The second ingredient is its human resources. USA has the third largest population in the world, which was estimated to be ca 295 mil people in July 2005 (CIA). The labor force is one of the major factor of economic growth and therefore prosperity of the country. On the other hand, country's citizens are also its biggest asset. Their welfare should be one the top of government's priorities list. Good environmental conditions and balanced habitats are essential to the welfare and health of the people, which makes environmental regulation extremely significant. The third element is industrial production and investments. USA is a home to corporations, which are complex organization governed by extensive set of rules and owned by stockholders. Boosted by the advent of mass production corporations like General Electric have been crucial in shaping the country. Using stock exchanges and financial markets American investors and banks managed to substantially increase their capital investing and withdrawing funds from profitable corporations. In the current era of globalization US investors and corporations have even larger influence on the world than ever before. ("Economic history of the US") It is essential to know these because above described components are vital in making the economy of the United States prosper. Therefore, it is imperative that the US government initiate regulation in order to preserve these valuable resources. Some regulations and policies that control these resources, however, are at times being overlooked not only by private corporations but the US government itself. Some private corporations in the USA abuse the use of natural resources, which leads to the destruction of the environment and increase in pollution, both harmful to human beings. The government, on the other hand, sometimes disregards these issues and even makes some initiatives to accelerate the economy at the expense of environmental deterioration. One of the recurring problems faced by the US government is energy. The government has been constantly seeking for appropriate means to regulate the use of energy and find new energy sources. US government has been extensively seeking for such sources as oil, nuclear