Economy

The U.S. market economy affects all aspects of life in the nation and its impact is felt around the globe. Activity…

The U.S. market economy affects all aspects of life in the nation and its impact is felt around the globe. Activity that scholars say boils down to “goods and services” and “supply and demand” has created a dynamic way of life marked by freedom, many levels of wealth and dramatic innovation. Nearly everything Americans do each day is tied in some way to the economy – their work, education, personal relationships and even what they eat. In fact, the money that Americans spend as they live their lives is the cornerstone of this system and the mood of consumers largely determines just how well the economy performs. Economic activity in the United States is closely watched around the world and measurements of it often dominate the news and conversation at the dinner table. And the benefits of it all reach deep. “The success of our economy has always depended not just on the size of our gross domestic product,” President Barack Obama said when he took office on Jan. 20, 2009, “but on the reach of our prosperity; on the ability to extend opportunity to every willing heart – not out of charity, but because it is the surest route to our common good.”

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