It is no longer news that the United States of America, by its economic achievements, political dominance, and technological advancements, has kept on emerging as such a successful world power, and without mistake, it should be categorized as one of the most successful countries in the world. It is the most populous country in all of the Americas with a population of 330 million people. Following this truth about the country, we therefore find the need to outline at least 5 reasons United States is Successful.
5 Reasons United State is Successful.
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. Below are the reasons it is successful in the world:
1. A Financial System that Supports Entrepreneurship.
The United States has a more developed system of equity finance than the countries of Europe, including angel investors who are willing to finance startups and a very active venture capital market that helps finance those firms as they grow. The U.S. also has a large decentralized banking system with more than 7,000 small banks that provide loans to entrepreneurs to foster more infrastructural as well as economic developments which then affect every other part of human lives around the world. This is basic among the 5 reasons United States is Successful.
2. World‐‐Cass Research Universities.
Knowledge is said to be power. Anyone with knowledge possibly has the power to control the world. One of the major 5 reasons United States is Successful is its strong belief in university education. Universities provide much of the basic research that drives high‐‐tech entrepreneurship. Faculty members and doctoral students often spend time with nearby startups, and the culture of the universities and the businesses encourages this activity. Top research universities attract the best students from around the world, many of whom end up staying in the United States.
3. Efficient Labor Markets.
U.S. labor markets link workers and jobs, unimpeded by labor unions, state owned industries and excessively restrictive labor regulations. Less than 7 percent of the private sector U.S. labor force is unionized, and there are virtually no state owned enterprises. While the U.S. does regulate working conditions and hiring, the rules are much less onerous than in Europe. As a result, workers have a better chance of finding the right job, firms find it easier to innovate, and new firms find it easier to get started and grow. The development of human resources is one of the 5 reasons United States is Successful.
4. A Growing Population.
A population that is growing, including from immigration, and geographically mobile within the United States. America’s growing population means a younger and therefore more trainable and flexible workforce. Although there are restrictions on immigration to the United States, there are also special rules to provide access to the U.S. economy and a path to citizenship based on individual talent and industrial sponsorship. A separate “green card lottery” system provides a way for eager people to come to the United States. The country’s ability to attract qualified immigrants has been an important reason for its prosperity.
5. An Encouraging Culture and Tax System
A culture and a tax system that encourage hard work and long hours. The average employee works 1,800 hours per year, substantially more than the 1,500 hours worked in France and the 1,400 hours worked in Germany (although not as much as the 2,200 hours in Hong Kong, Singapore and South Korea.) In general, working longer hours means producing more and therefore means higher real incomes.
