The United States : An Advanced Market

I believe that the United States has opportunities that will help increase the national competitive advantage that it has over other countries in the world because the United States is finding ways to manufacture goods at a high rate to satisfy the needs of the consumer. I find that businesses such as Honda and Toyota have to compete at a high level in order to attract the services of the consumer who is looking to buy a new car that they feel they are wanting to have for a long while. They will usually innovate with new car models that will necessarily have new features that the predecessor before it didn't have and will be able to negotiate a deal with the consumer to buy it. I find that companies will use under-handed techiques to try and

The United States is the second largest producer of greenhouse gases in the world, and yet is doing very little to fix this startling statistic (Dennis). The US’ reliance upon outdated energy sources continues to harm both the environment and the economy by producing millions of tonnes of pollution every year and costing the government billions of dollars (“Fact Sheet: Clean Power Plan”). Fossil fuels have been the main energy sources in America since the industrial revolution, and it is time to make a change. Renewable energy is energy harnessed from sources like the sun, wind, or water, and has little to no negative effects on the environment (“Renewable Energy Technology Basics”). The United States needs to integrate and increase the use of these types of energy across the country, as well as implement positive environmental policies, to prevent further pollution of the earth and combat the effects of climate change.

America should pursue alternative energy sources because “With only 5 percent of the worlds population, the United States consumes almost one-quarter (22.5%) of global energy”. (((Josef Bram, 15))) With such a small percentage of the world’s population and still one of the largest consumers of energy the U.S should be looking for new and better ways to generate energy. Currently The U.S’s energy is supplied using traditional sources. According to Canadian scientist and policy analyst Vaclav Smil “Todays energy 29% from coal, 33% from oil and gas, and 33% from soft-energy (alternative sources)” (((Smil, 47))) Most of the energy we use on a daily basis is not produced using clean methods. Some alternative energy sources that are already in place within the United Stats are wind, solar, and hydraulic.

The Alternative energy industry in the United States has been at a steady rate of growth for the past decade, however there is still controversy over the use of renewable energies, their impact on the economy, and their impact on the environment. As controversial as the topic is, the argument boils down to a moral need to support environmental regulations, and an economical need to sustain domestic growth in the Energy industry of the United States. Mainly, the question is can alternative energy effective replace fossil fuels? There are of course arguments for both sides of this question.

Dave gives “The Theory of Comparative Advantage” a different name and calls it “The Roundabout Way to Wealth”.(p.10) He says that this theory deals with the idea that even a nation which is relatively poor at doing everything, still do some things relatively well. “And a nation that is really good at many things should still specialize in producing some items and import the rest”.(p.10) Time is the ultimate scarce resource. Investing time in doing something means having less time in doing

Define the concept of comparative advantage. How can a country gain or lose its comparative advantage in the production of a good?

The United States has an absolute advantage over the technological products and services which are critical. Within the global markets, the U.S has been able to provide tech products and services appropriately. However, it has comparative advantage of offering tech services while the absolute advantage exists in technology design and providing industrial capacity. The U.S is a major exporter in the international markets of products such as civilian aircraft, semiconductors, cars, car accessories, fuel oil, and organic chemicals among others. Such exports improve the U.S's comparative and absolute advantage.

The American System transpired after the War of 1812. The need to protect the United States economy against outside influence and control became evident. A group of politicians, led by Henry Clay and John Calhoun developed an economic plan that believed that the federal government should encourage economic enterprise. The center of this new plan wanted to keep American products in the United States. The American System fell under the Market Revolution, where economic and social changes took place between the years 1812 - 1868 (Schultz, n.d.). They felt the federal government should encourage internal enterprise by creating internal improvements, establish secure economic institutions, and high tariffs. Internal improvements consisted of creating new ways to move goods

While a case could be made that the following inventions were just as important globally, for the sake of brevity and personal preference, this essay will focus upon the United States of America. The proliferation of transportation systems, the refrigerator, and the telegraph were the most important developments of the American Industrial Revolution as they allowed for western expansion and established a foundation for growth.

The U.S. heavily relied on technological systems and infrastructure to for economic and social issues. Certain forms of technology including the railroad, electric, and telecommunication systems were amongst the most useful sources with regards to transporting and buying goods and merchants. Throughout the 19th century, many patents and recognition were given due to the production of various technological advances including the telephone and advances in the usage of electricity. A consequence of this cause was the need for more workers. In order to successfully thrive in the world of technology, most companies implemented hard labor on the workers and even needed a significant number to reach production goals.

Third assumption, “Clean energy is about unleashing the potential of all these new technologies -- because we can figure some stuff out just about better than anybody else” Saying that America had the best equipment was a fallacy when we saw that a country like Morocco had put all efforts to build the greatest super solar power on the earth. In fact, it would be a fallacy to say that just the best minds were located in the United States nowadays when its levels of education dropped in many different fields compared with other state

America has always been the leader in science and innovation. It has the best universities and research labs. Many successful entrepreneurs have been raised from this nation. Thus, it has to take benefit from these significant comparative advantages to generate new pools of jobs for its people. As I mentioned in the introduction, we should let history to be our guide to plan for future. Toward the end of the last century Japan was getting ahead of U.S. in most aspects of technology and industry including in automotive and home appliance industries. Most economists at that time predicted that in near future Japan’s economy would pass America’s economy, but this did not happen. Thanks to Americans innovation and ingenuity, the Internet was born in U.S.A which became the prevalent technology of the future and revived the U.S economy. Today, America is in need of such innovations. The world is in shortage of energy and the oil and natural gas resources are running out. Therefore, the price of energy will definitely increase. I believe that the capability of storing and using alternative and renewable energies in day to day life can be the next big discovery that is very likely to revitalize the economy and to create a new generation of jobs. Thus, emphasizing on research on alternative energies can be a feasible strategy to maintain a healthy workforce in the mist of outsourcing.

Till this day the U.S. still goes through a lot of influence over the world, and remains to be the dominant power. I believe that a green revolution or renewal in the US and for the US economy could very well help the US regain some of it’s lost power and preponderance, as well as benefit the global effort to cut back on fossil fuel emissions. Global energy shifts are usually associated with a shift in global hegemonic power, in the case of the US I believe they could reassert their dominance by introducing an economy based off renewable resources, and perhaps cause a global energy shift and a reaffirmation of power at the same time. If commercial and social factors are in fact more important than technical factors it is not a matter of whether America can be the leader in the green revolution, it is a matter of whether America is willing to be the leader or not. I believe with the proper research and commercialization of going green with the economy, the US could make green technology competitive enough against fossil fuels such as oil and coal to shift to sustainable energy altogether. For example, historically we see a shift from biomass to coal in the 19th century because of political, commercial, and even social factors. The United States had a clear abundance of

In today’s World there is a huge debate going on about the creation of jobs and GDP or environmental issues and clean energy. Approximately 59% of voting Americans think that job creation is more important than the protection of the environment. This number is very alarming considering that there has been several studies conducted showing that our continued use of fossil fuels has been damaging the environment at an alarming rate. In order to fix this problem, a transition from these fossil fuels to cleaner energy is necessary. Clean energy sources include solar power, wind power, hydropower, geothermal energy, or anything else that includes an inexhaustible resource. These sources of energy would effectively produce significantly less

Comparative advantage is a principle developed by David Ricardo in the early 19th century to explain the benefits of mutual trade (Carbaugh, 2008). Many underlying assumptions of comparative advantage depend on states of economic equilibrium and an absence of economy of scale. In reality, economies are dynamic and subject to innovation and interference; which has led to revised assumptions of return and competition (Krugman, 1987). These factors have created questions of free trade and governmental participation in an economy by the development of strategic trade policies. These new concepts do not replace the theory of comparative advantage; however, they further explain how trade can benefit a country's economy (Krugman, 1987).