A Futuristic View of American Economy

A Futuristic View of American Economy. Northwestern Polytechnic University, NPU Technology Journal, January 2009

The economy of all nations is ever changing; the United States’ economy is no different. The United States economy has grown exponentially in all sectors in the last 15 years with agriculture being the most important and crucial part of the country’s economy. Over the years, the agriculture sector has seen an increased growth due to its farmer-friendly policies, availability of fertile and arable land, and favorable weather conditions in the northern hemisphere. However, by the end of World War II, the agricultural sector was facing problems of overproduction that pushed the depression of prices of agricultural goods. Although, government interventions helped to smooth out the problems faced in agricultural sector, in recent decade this sector has declined and is now more focused on the manufacturing sector. This has been further strengthened by improving standards of technology which has made the U.S. a leading manufacturing power. The U.S.’s economical success has inspired others. Developing and underdeveloped countries have replicated many U.S. policies to improve their industrial output thus, resulting in the manufacturing sector becoming the primary focus in countries in Asia, and Africa.

Along with rising world populations and the scarcity of agriculture land, it is believed that there will be a shortage of nutritious food in the near future in most of the underdeveloped and developing nations. To address this issue, this paper puts forward the argument that emphasis more governmental spending on agriculture and the use of biotechnology to develop biotech crops. Emphasis is on the use of aquaculture using biotech food that will help to reduce pollution in the environment. Furthermore, this paper suggests that the use of biofuels and aqua cultured products will have a positive desired beneficial effect.

• < Prev
• Next >