- Rancho Mirage, USA
Rancho Mirage, USA
DOI:10.4103/2152-7806.66459© 2010 Beschloss M. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
How to cite this article: Beschloss M. The United States and the world economy in the future: America’s global exceptionalism firmly rooted in entrepreneurship. Surg Neurol Int 16-Jul-2010;1:29
How to cite this URL: Beschloss M. The United States and the world economy in the future: America’s global exceptionalism firmly rooted in entrepreneurship. Surg Neurol Int 16-Jul-2010;1:29. Available from: http://sni.wpengine.com/surgicalint_articles/the-united-states-and-the-world-economy-in-the-future-americas-global-exceptionalism-firmly-rooted-in-entrepreneurship/
The most remarkable evidence of America’s global economic leadership is the preponderance of private businesses that comprise the backbone of the nation’s success, since its inception in the late 18th century.
Although current statistics don’t tell the whole story, they provide a focus on what has made the U.S.A. the world leader in all aspects of economic progress, whether total annual generation of gross domestic product of goods and services, consumer demand, per capita income, and even world trade. This relatively recent venture into exports has vaulted the U.S. into the runner-up spot among China, Germany and Japan, whose economies are predominantly dependent on outgoing shipments. While those countries’ exports comprise a major percentage of their productive capacity, America’s export sector comprises only 12% of the nation’s total revenues.
The following key statistics emphasize America’s overwhelming proportion of the world’s gross domestic product of goods and services:
Utilizing the Keynesian concept of leveling the playing field, and removing the benefits of superior entrepreneurship through increasingly oppressive tax policies, the western nations, plus Japan, have throttled the human tendency to attain rewards in lock-step with individual achievement. This motivational philosophy has been replaced with affirmative action and similar leveling strategies that are increasingly Marxist in their implementation.
They suspiciously echo the credo of Karl Marx, who uttered the defining axiom of his newfound method of egalitarianism memorializing “those according to their means to those according to their needs.”
This approach has already squeezed much of the world’s creative juices and their just accomplishments dry, while putting viable nations behind debt-ridden eight balls. Although this is already decimating such once balanced-budget nations into an ever-deeper financial hole, it has methodically pushed the lower ranks of the Eurozone — Portugal, Ireland, Greece, Spain, and Italy — dangerously close to a point of no return.
Up to now, America has avoided the worst aspects of its transfiguration from entrepreneurial exceptionalism to the wealth redistribution concept, which has proven disastrous. This failed philosophy was behind the breakup of the Soviet Union, and more recently, the current fiscal nightmares occurring in the West. Present American government policies are leading the U.S.A. toward similar paths. But, fortunately, this country has only taken the initial steps, which can still be reversed by political changes, rejecting the utopian Marxist concepts and embracing the tried and true values that have made the 310 million–strong American nation the envy of the world at large.
Barring such return to fiscal sanity and rewarding the millions of American achievers through the reinstallation of economic systems that reached their peak in the 1980s, it’s a sure bet that resource-rich and capitalist-minded developing nations will fill the leadership vacuum left by the world’s last standing, merit-rewarding nation, the U.S.
If such a departure indeed occurs, it will leave the dominance of world economics wide open. Along with such a development will come leadership in geopolitics, military potential, and a global system of human values far different than the one U.S. leadership has brought to the world at large in the past 65 years.