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Assignment 1 - Essay Example

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The chapter states that over the past years, Americans have had a very challenging economy. This has led to the decrease in living standards for…
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Download file to see previous pages... Putting these skills into practice is a factor that will help the United States move ahead and maintain its high position economically. Over the past years, countries like Russia and China have had steady economic growth rates, and this has posed as a challenge to the United States. The United States ought to understand the various steps taken by the countries to have them at the position that they enjoy and the consequent result of this is implementation of plans that will see the country register a rise in general growth.
Demographics is also critically analyzed in the chapter. According to the United States census, it has had a steady increase in the birthrate from the 1970s (CEA 122). The increase in birthrate has had a negative effect on the working population. One way in which this has affected them is that many people and especially mothers have had to leave their works to carry out their maternal responsibilities and this has led to the slowing down of their corporate responsibilities. This is negative from the fact that other countries that do not have such a birthrate have their citizens working tirelessly to support their families and consequently catching up with the economic stature of the United States.
The demographic problem has had its effect reflected in the prime working age. With an increase in population, the prime working age for a particular location is bound to decrease. Currently, the rate is between 25 to 54 years (CEA 122). It is speculated that if the birthrate continues increasing at the rate in which it has increased over time, the prime working age gap is bound to decrease and this has the consequent effect of having less labor. With less labor, there is a decrease in the amount of money that individuals bring into a company or organization. This has the effect of having the country in a poor economic position with the citizens having low living standards and the country lagging ...Download file to see next pagesRead More
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