Introduction
Many countries have focused on different ways to help their economies grow. America is one of the nations that have experienced changes in its economy for the past 100 years. Some aspects such as technology, globalization, and population growth have primarily impacted various sectors in the United States, whereby positive changes have been recorded. For instance, globalization has led to many people investing in the country, leading to economic growth. Various aspects can be analyzed to show that the wireless industry, America’s population growth, and globalization have significantly changed the United States’ economy in the last 100 years.
The Wireless Industry
Technology has primarily advanced over the past decades, whereby people are designing new high-tech products and services which have played an essential role in developing America’s economy. The technology sector has led companies such as Apple and Microsoft to manufacture different goods and create employment for many individuals (Teece 1370). Moreover, the companies in the wireless industry have sponsored various programs in communities to ensure that they positively impact the economy. Corporate social responsibility has also been encouraged, and many corporations have supported multiple projects in society.
Historically, the 1930s was the most challenging period for the American economy (Namchavadze). However, companies such as AT&T, Verizon, and T-Mobile have been significant players in the US economic growth for decades due. The companies pay large amounts of tax used in the development of various sectors. Over the past 100 years, the US economy has grown 19 times due to the contributions made by businesses (Namchavadze). Workers in these organizations also pay their levies, which helps in the enhancement of society. Innovation is a significant aspect involved in the wireless industry. Thus, many firms have introduced new services and products that use modern technology to ensure various tasks are performed efficiently.
For instance, the organizations have manufactured machines used in the agricultural sector to ensure that farmers can increase their yields. Therefore, the wireless industry has contributed indirectly to the economy by providing services and products to other businesses, improving their performance (Safer et al. 7). Business transactions have also been enhanced by the wireless industry, whereby e-commerce has been introduced. This has made it easy for organizations to conduct business transactions with their customers by focusing on supply and demand and ensuring that clients can access products and pay online. Thus, these changes that have been introduced by the wireless industries in various sectors have led to economic growth for many years.
American Population Growth
Population growth is another aspect that has positively changed the American economy for the last 100 years. America has recorded a growth in the number of immigrants, which has led to more people investing in the country to meet the market demand. Moreover, many migrants work in various companies, whereby they pay taxes and contribute to economic growth (Sherman et al.). Settlers have also helped in introducing new skills that have improved the performance of many companies.
Many people have also become innovative to limit the challenges experienced in various areas due to the increased population. For instance, entrepreneurship has become a significant aspect, whereby people are developing ways to ensure they meet the customers’ demands by introducing new products and services. These entrepreneurial approaches have been of great significance in growing the economy since the government levies taxes on investors. Therefore, population growth has contributed to the development of the economy in various ways.
Globalization
Globalization has been encouraged in the modern world and has largely contributed to the economic growth of many countries. America is one of the nations that has experienced changes in economic growth due to the influx of international companies that invest in the United States (Stiglitz 129). Foreign Direct Investment (FDI) has also been achieved due to globalization, whereby global companies are capitalizing in America, leading to increased job opportunities and limiting unemployment. The approach helped improve many people’s lives and increased gains in Gross Domestic Product (GDP) (Stiglitz 130).
Furthermore, the performance and productivity of new businesses have also been achieved due to globalization. Due to more companies that have invested in America for the past 100 years, inflation has also been impacted by globalization. In this case, stabilizing the economy has led to the American dollar gaining more purchasing power, which is also a significant contribution to financial growth. Interest rates can also be examined when focusing on globalization.
Companies in sectors such as banking have ensured that interest rates are analyzed to guarantee that people contribute to the country’s development. Business permits have also led to economic growth since companies have to pay and renew their licenses to operate in the country. Hence, the funds acquired from the organizations develop many sectors in the county. Therefore, globalization has also been of great significance in contributing to the economic growth of the United States.
Conclusion
To sum up, America has primarily benefited from economic growth due to various aspects such as the wires industry. Many people have been employed in these companies, leading to a decline in unemployment rates. The organizations also pay taxes which contributes to the enhancement of communities. Population growth has also led to changes in supply and demand. Thus, many companies have invested in different sectors to meet consumers’ needs, which leads to fiscal growth since they create more job opportunities.
Globalization is also an essential aspect that has encouraged companies to invest in the United States. The firms pay levies and increase production in various sectors such as the agriculture and textile industries. Moreover, unemployment is minimized since these organizations have to hire employees. Therefore, globalization, increased population, and the wireless industries are some of the aspects that have led to America’s economic growth in the last 100 years.
Works Cited
Namchavadze, Beso. “100 Years of The US Economy” Forbes. 2017. Web.
Safer, David et al., “The Wireless Industry Powers the US Economy.” Accenture strategy 2018, pp. 1-17. Web.
Sherman, Arloc et al. “Immigrants Contribute Greatly to US Economy, Despite Administration’s ‘Public Charge ‘Rule Rationale.” Center on Budget and Policy Priorities. 2019, pp. 1-8.
Stiglitz, Joseph E. “The Overselling of Globalization.” Business Economics, vol. 52, no. 3, 2017, pp. 129-137.
Teece, David J. “Profiting From Innovation in the Digital Economy: Enabling Technologies, Standards, and Licensing Models in the Wireless World.” Research Policy, vol. 47, no, 8, 2018, pp. 1367-1387.