Game changers in the us economy - Essay Example

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Game changers in the us economy

Shifting through more than a dozen possible game changers to boost this sluggish growth, five such theories have been identified as feasible for US market. These five will act as a catalyst for the US market and revive it from this depressing state. These five can further be dived into: Shale energy, knowledge intensive trade, big data, infrastructure, talent development. Shale, knowledge, and infrastructure will prove to be the most effective game changers to help revive US from this crucial stage and all of the five will provide a strong foundation for long term growth and competitiveness. Shale energy is the production of natural gas and light tight oil extracted from very deep grounds. It is too costly to extract these energy resources but US possessing the 4th biggest Shale gas resources has to utilize it properly so that they can enter the market accordingly. The production of natural gas and light tight oil is already booming in places like Dakota, Texas, and Pennsylvania as the some stakeholders have realized the importance of the energy in terms of economical progress. If utilized properly then it could add a potential boost of $380-$690 billion to annual GDP by 2020. And this will in turn generate an additional 1.7 million jobs. Moreover, by producing their own energy from natural resources the US imports will reduce to zero. But along with that the environmental risk must also be controlled to fully realize its potential. ...Show more

Summary

With the end of the four years of great recession, the US was still struggling with its economy. This was not a phase of business cycle but such effects on the labor market were visible well before the recession. The chances for US economy to grow are fading over time as the recession has penetrated the roots of the businesses. …
Author : pconnelly
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