Limits to the United States Long-Term Economic Growth
Economic growth refers to the increase in the number of goods and services that a county produces measured over some time. It is normally measured in terms of the Gross Domestic Product or the Gross National Product. Various factors can affect the economic growth of a particular country. They include; poor infrastructure, changes in the market demand, natural and human resources and political stability. The United States of America has enjoyed economic growth over the past many years. However, there are some factors that limit its long-term economic growth. They include; climate changes, educational standards and the quality of the health care system. Climate changes are a potential limit to long-term economic growth because of the severe impact it has on the country. Some of the most productive regions have been facing hurricanes, for example, Florida, Carolina, Georgia and Puerto Rico. California has also experienced wildfires. Such natural calamities require millions of dollars to be managed, and over time a lot of money has been spent to manage them. United States educational standards have been in question based on the report of the Organization for Economic Cooperation and Development. The U.S. ranked position 28 out of 38 as regards to the percentage of children under four years old who are in school. This has been attributed to the reduced funding by the government in the education sector. The United States also faces health care-related issues. As it stands, the country’s health care system is not competitive when compared to other developed countries. This is because of the country’s technological advancement in the health sector and the expensive cost of getting health services (Rodríguez-Pose & von Berlepsch, 2015).
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The Role of the Government in Addressing these Limits
The government has a significant role to play in addressing these limits, and it would be a good idea for them to try and send them. They can do this by formulating policies to reduce the production of carbon emissions in the air. This is by encouraging the use of wind and solar as sources of energy. This will help address the issues of climate change. The government should also provide adequate funding for the education sector and ensure the teachers are well paid to boost their educational performance. Finally, the government should ensure the latest advancements in the technology used in health care delivery and that all the citizens’ access affordable and quality health care services (Rodríguez-Pose & von Berlepsch, 2015).
Reference
Rodríguez-Pose, A., & von Berlepsch, V. (2015). European Migration, National Origin and Long-term Economic Development in the United States. Economic Geography, 91(4), 393-424. doi: 10.1111/ecge.12099
