Economic Roles of the United States

The US has, to various degrees, played many roles in world trade and macro economics. Nominally, the economy United States is the largest in the world. In the latest 2009 figures released by the IMF, the United States economy constitutes over a quarter of the world economy. Since it plays such a large role in the global economy, any decisions that the government or the businesses of the United States makes has a direct impact on the economies of other nations. These decisions however, are not often based on the interests of the whole world. Instead, many decisions that the government and businesses make are to further the self preservation and growth of the United States.

Although there is no inherent problem in endeavoring to improve oneself and one’s country, “with great power comes great responsibility.” World leaders must carefully weigh the consequences of the actions that they take. Yet in a competitive world economy, it is very difficult to participate as both a contender in market, as well as a moderator in the same. More often than not, self-preservation and development unfairly disregards the needs of others. Certainly the current world economic climate has proven that capitalism in its extreme form creates more harm than the good it brings. Nonetheless, the status quo is difficult to change overnight and it may take a shockwave event in the world before a new paradigm can be realized.

The United States, or any other country in a leadership position for that matter, should not use its authority for its own advantage in those situations where the safety and lives of groups and individuals are at stake. While pursuing wealth and advancement are worthy goals for any nation, true long-term achievements for a nation involve strategies that encompasses a comprehensive economic plan concerned with social development, safeguarding the environment, and the upholding the well-being of the people. Many developing countries in the world aspire to catch up to the developed nations in terms of prosperity, technology, and the quality of life for its citizens.

As an economic chief and world leader, the United States should accomplish goals set at a higher standard. By overcoming the traditional role of arrogant or overbearing leader, this country can strive to integrate honest values with economic strength in order to establish a new baseline for advancement. The evolving standards of society have shown that money and power are not the only criteria which are important in determining the prosperity of a nation or its people. Social responsibility and actions based on the survivability of all the participants in the world arena are crucial to the success of the United States, and the other nations of this world.