Government Support of Private Claims to Public Minerals: Western Mineral Rights

1979 ◽  
Vol 53 (3) ◽  
pp. 364-385 ◽  
Author(s):  
Gary D. Libecap
Keyword(s):  
United States ◽  
Economic Growth ◽  
Land Tenure ◽  
Trade Deficit ◽  
The United States ◽  
Government Support ◽  
Legal Rights ◽  
Agrarian Society ◽  
Mineral Rights ◽  
The Impact

“Gold is where you find it,” said the old prospector. It has long been recognized, in one way or another, that it belongs to him who can find it and extract it, and that the rules of land tenure and use formed in an agrarian society would serve poorly to define legal rights. In the middle of the nineteenth century, the demand for gold was particularly high. Its vital significance to American economic growth is revealed in the fact that the chronic foreign trade deficit of the United States in these years was balanced by two main elements: capital imports and gold exports. Professor Libecap shows just how pragmatic Americans could be about the impact of economics upon law under such circumstances, and draws a picture of a land use code that proved as malleable as the glittering metal it called forth.

scholarly journals Impact of institutional factors on economic growth in the United States in the years 1979–2007

2015 ◽  
Vol 6 (1) ◽  
pp. 137 ◽  
Author(s):  
Dorota Kuder
Keyword(s):  
United States ◽  
Economic Growth ◽  
The United States ◽  
Business Environment ◽  
Positive Influence ◽  
Institutional Factors ◽  
Working Population ◽  
Proportional Increase ◽  
The Impact ◽  
The U.S

The purpose of this article is to isolate and determine the importance of institutional arrangements in shaping the dynamics of the U.S. GDP in the years 1979–2007. The research hypothesis which has been verified here can be summarized as follows: institutions in the U.S. economy have a positive influence on economic growth through a significant impact on improving the business environment. Having regard to the division of the economy into institutional areas: economic system, labor market, financial market, education and R&D, the author selected these institutional factors which indicated that the operation could be important for the process of economic growth in the United States, and then measured the impact in the years 1979–2007. To verify the thesis about the impact of institutions on economic growth the author used one of the most popular tools in this kind of econometric research – the multiple regression analysis. The analysis revealed that during the period of all the analyzed institutional factors it was the proportion of the working population and the degree of unionization that most strongly influenced the economic growth of the United States – an increase in one of these factors was associated with a much more than proportional increase in the rate of the economic growth.

The Cost of the First World War to the United States

2018 ◽  
Author(s):  
Kristen Tannas
Keyword(s):  
United States ◽  
Economic Growth ◽  
Indirect Cost ◽  
The United States ◽  
First World War ◽  
World War ◽  
The First World War ◽  
The Cost ◽  
The Impact ◽  
First World

In this paper, a calculation of cost of the First World War to the United States is performed with the aim of evaluating the impact of the War on the American economy. The method used to make this calculation is based on the work of economic historians Claudia Goldin and Frank Lewis, who studied the cost of the American Civil War. This method involves the calculation first of the “direct cost” of the war, which represents the value of economic losses made up of war expenditures, casualties and the opportunity cost of drafted soldiers. The “indirect cost” of the War is also calculated to measure the impact of the War on American economic growth by projecting economic growth in a hypothetical world where the First World War did not occur and comparing it to the economic growth actually experienced in the United States. This calculation is meant to capture any positive effects that the War may have had. For the calculations, data was drawn from a number of primary sources including censuses and government documents. The results of both of these calculations show that the First World War had a negative impact on American growth and represented a massive drain of economic resources. In particular, the indirect cost calculation shows that American growth slowed considerably in the decade following the War. This result is significant as it contradicts the common view of the postwar period prior to the Great Depression as being one of great prosperity in the United States.

The Impact of Sheet Metal Stamping on Manufacturing and Economic Growth of the United States in the Early 20th Century

2002 ◽  
Author(s):  
Vincent J. Vohnout
Keyword(s):  
United States ◽  
Economic Growth ◽  
Metal Forming ◽  
Mechanical Energy ◽  
Value Added ◽  
The United States ◽  
Material Loss ◽  
Sheet Rolling ◽  
Sheet Stamping ◽  
The Impact

A vast array of manufactured articles containing metal components utilize power press methods in their production. The common aspect of these methods is the use of specialized dies and the mechanical energy of the press machine to impart the required finished shape with a minimum of time and material loss. The innovation of power press metal forming methods in conjunction with advances in sheet rolling technology can be credited with a significant portion of the United States economic growth from manufacturing between 1890 and 1940. Of the many variations of power press metal forming processes that now exist, sheet stamping is found to be the most significant to the economic development of the U.S. as a synergetic partner of the new automobile industry. Data from the 1929 Census of Manufactures is used to generate a Social Savings metric which estimates the effect of the use of sheet stamping in terms productivity gained. The estimated Social Savings of this very small sector of manufacturing represents a tenth of one percent of the total Value Added by all U.S. industries in 1929.

scholarly journals Comparative analysis of USA and Chinese entrepreneurship: experience for Kazakhstan

2021 ◽  
Vol 16 (2) ◽  
pp. 86-97
Author(s):  
A. M. Myrzakhmetova ◽  
A. E. Mukhametzhan
Keyword(s):  
United States ◽  
Economic Growth ◽  
Comparative Analysis ◽  
Well Being ◽  
The United States ◽  
Entrepreneurial Activity ◽  
Advantages And Disadvantages ◽  
The World ◽  
Effective Development ◽  
The Impact

Вusinesses are the backbone of the national economy and play an important role for the effective functioning of the economy of any country in the world. The authors studied the experience of the United States and China, in which small and medium-sized businesses have been successfully developing for a long time, both during periods of economic growth and during periods of economic recession.The purpose of the article is to study the features and conduct a comparative analysis of the organization of entrepreneurial activity in the United States and China, and, based on the experience of these countries, develop proposals for the effective development of entrepreneurship in Kazakhstan. The authors analyzed the dynamics and factors of the development of small and medium-sized businesses, the advantages and disadvantages of entrepreneurial activity in the United States and China, and identified the impact of the COVID-19 pandemic on entrepreneurial activity in these countries and in Kazakhstan. In the course of the study, various methods of scientific knowledge were used: data collection and processing, economic, comparative and statistical analysis, generalization, synthesis, induction, deduction. We collected and processed fresh quantitative data on the state and dynamics of the development of small and medium-sized enterprises in the United States and China in the period from 2011 to 2021.Small and medium business is an integral and important part of the economic development of all countries of the world, the experience of countries such as the United States and China can be useful and interesting for the Kazakh economy. Entrepreneurship performs a number of important socio-economic functions for the country: providing employment, creating a competitive environment, supporting and introducing innovations, reducing social inequality, attracting natural, human, material and technical resources into the production and commercial process, stimulating economic growth and improving the well-being of people.The authors, based on a study of the experience of entrepreneurial activities of two large leading countries of the world economy, have developed proposals that will contribute to the development of small and medium-sized businesses in the Republic of Kazakhstan.

Remittances to Latin America will slow this year

2019 ◽  
Keyword(s):  
United States ◽  
Economic Growth ◽  
Latin America ◽  
Lower Cost ◽  
The United States ◽  
Poor Growth ◽  
Content Type ◽  
Digital Services ◽  
The Caribbean ◽  
The Impact

Subject Remittance growth in Latin America. Significance Remittances to Latin America and the Caribbean (LAC) grew almost 10% last year, with Mexico registering another year of record inflows, driven by strong economic growth and low unemployment in the United States. Impacts Strong remittance growth is helping to counter the impact of poor growth in many LAC countries. Remittances from Venezuelan migrants are helping to alleviate the suffering of relatives there, possibly to the government's benefit. Sending costs remain high in LAC, but migrants are embracing lower-cost digital services.

scholarly journals Divided Politics and Economic Growth in the Philippines

2016 ◽  
Vol 35 (3) ◽  
pp. 161-186 ◽  
Author(s):  
Eric Vincent C. Batalla
Keyword(s):  
United States ◽  
Economic Growth ◽  
United Nations ◽  
Economic Performance ◽  
Catholic Church ◽  
The United States ◽  
The Philippines ◽  
The United Nations ◽  
The Impact ◽  
Macroeconomic Growth

As the 2016 elections drew near and the prospects of a Rodrigo Duterte presidency became stronger, there were concerns that the economy might be adversely affected by the expected political volatility under the new regime. Since the start of the campaign season, Duterte had been rocking the establishment through controversial pronouncements and outbursts, attracting the enmity of leaders of the Catholic Church, the United States, and the United Nations. Based on a review of recent political and economic performance, this article argues that unless there are significant changes in the major sources of macroeconomic growth and stability, the Philippine economy would likely withstand the impact of a “Duterte shock.”

scholarly journals The end of the globalization erа, deglobalization, “new” globalization, or transition to noospheric co-development?

2020 ◽  
Vol 2020 (8) ◽  
pp. 7-25
Author(s):  
Oleh BILORUS ◽  
◽  
Volodymyr VLASOV ◽  
Sergіi GASANOV ◽  
Igor KHANIN ◽  
...  
Keyword(s):  
United States ◽  
International Trade ◽  
Free Trade ◽  
Social Inclusion ◽  
Social Protection ◽  
Special Section ◽  
The United States ◽  
Government Support ◽  
The Us ◽  
The Impact

The article highlights the controversial issues of the state, contradictions and trends of modern globalization in the face of new challenges and threats associated with political, immigration, pandemic, climate, economic and trade shocks – Britain’s exit from the EU, the implementation of the US President’s policy “America Above All”, the beginning of trade de-globalization as a result of the revision of free trade agreements (FTAs) and the trade “war” between the United States and China, the impact of the global COVID-19 pandemic and climate change on deepening the global economic recession, the collapse of national economies and international trade, lack of financial resources for active government support of the health care systems, social protection, small and medium-sized businesses. Political, economic, managerial and academic circles are actively discussing the problems of the “end” of globalization, de-globalization, “new” globalization, the need for a “new world order”, which will actually embody the fundamental values of democracy, economic freedom, free trade and, at the same time, will strengthen social responsibility of the world community and its international institutions, the main geopolitical, geo-economic and military centers of power (primarily the United States, China, the European Union, Russia, etc.) for the preservation of peace on the basis of consensus, recognition of global priorities in countering climatic and epidemic threats to human life on Earth , consistent implementation of the Sustainable Development Goals to eradicate poverty in all its forms and manifestations, combat inequality within and between countries, ensure continuous, inclusive and sustainable economic growth and promote social inclusion. The article drew attention to the strengthening of the trends of protectionism and economic nationalism, in particular, the US withdrawal from the Trans-Pacific Partnership agreement and attempts to revise the North American Free Trade Agreement (NAFTA). The article shows the loss of the US leadership in world trade due to the accelerated economic development of other countries, primarily the Asian region. The discussion of these problems at the Davos Economic Forum led to the conclusion about the likely end of Atlanticism and globalization. At the same time, the UN report (2018) highlighted a special section on trade hyperglobalization. The article hypothesizes that the Bali Round (2013) of negotiations on trade began the fourth wave of its globalization, and proposes a new theory of international trade – the theory of globalization impact.

scholarly journals THE IMPACT OF FOREIGN DIRECT INVESTMENT ON ECONOMIC GROWTH (A CAUSAL STUDY IN THE UNITED STATES)

2018 ◽  
Vol 4 (1) ◽  
Author(s):  
Donny Susilo
Keyword(s):  
United States ◽  
Economic Growth ◽  
Foreign Direct Investment ◽  
Direct Investment ◽  
Multiple Linear Regression Model ◽  
The United States ◽  
Ordinary Least Squares ◽  
Development Effort ◽  
Positive Effects ◽  
The Impact

<p>International investment is strategic step for country due to lack of capital and technology transfer and it is generally well known as Foreign Direct Investment (FDI). Many policy makers and academics contend that FDI can have important positive effects on a host country’s development effort. This research examines the impact of Foreign Direct Investment on Economic Growth in the United States by multiple linear regression model and its estimation using ordinary least squares (OLS). This research classifies all the sectors to be 10 sectors. This research uses data for the period 2000 –2017 and suggests that not all forms of foreign investment seem to be beneficial to host economies. Some sectors provide positive correlation to economic growth and some provides negative effect. Nevertheless, it is significant yet, this is because there is different characteristic between developed and developing countries. Economic growth in the U.S is mostly driven by personal consumption.</p>

scholarly journals TARIFF ELIMINATION UNDER THE TRANS-PACIFIC PARTNERSHIP AND ITS IMPACT ON INDONESIA’S TRADE BALANCE

2019 ◽  
Vol 34 (1) ◽  
pp. 17
Author(s):  
Pritish Kumar Sahu
Keyword(s):  
United States ◽  
Trade Deficit ◽  
Trade Agreement ◽  
Trade Agreements ◽  
The United States ◽  
Trade Surplus ◽  
Long Run ◽  
Partnership Agreement ◽  
Gains And Losses ◽  
The Impact

Introduction: Indonesia has signed, and is in the process of signing, many bilateral and regional Free Trade Agreements (FTAs). Whether these trade agreements will benefit Indonesia on the economic front or not is still a matter for discussion. Background Problem: Signing TPP, raises many questions as to how this would affect the countries in Asian regions, including Indonesia. Novelty: Considering the criticism of CGE (Computer General Equilibrium) model, this paper uses the SMART simulation model, based on a partial equilibrium approach, to estimate the aggregate and commodity-level gains and losses for Indonesia with its partner countries during the post-tariff elimination period. Research Method: This study uses the World Bank’s World Integrated Trade Solution (WITS) Database. This database contains trade data for all the countries under a different nomenclature viz. at the two-digit, four-digit, and six-digit level. We use the HS-classified nomenclature at the six-digit level in order to estimate the impact of the removal of tariffs on Indonesia’s trade, i.e. both exports and imports. Findings: The finding reveals that if Indonesia does not take part in the Trans-Pacific Partnership Agreement, it will still have a trade surplus of $1.6 billion with the Trans-Pacific countries but joining the bloc would result in a trade deficit of $19 million. Joining the bloc would increase the imports from Japan, followed by the United States and Australia as against an increase in exports to the United States, followed by Malaysia and Vietnam. The post Trans-Pacific Partnership period will have many implications for Indonesia, it may face difficulties exporting to the member countries, even with an existing trade agreement, while in the long run the Trans-Pacific Partnership bloc could limit Indonesia’s trade prospects with these Pacific Rim countries and it may limit Indonesia influencing WTO outcomes. Conclusion: Trade agreements seem to have benefited Indonesia’s economy and its people in many ways over the years, even though it has an important cost for some people.

scholarly journals Impact and consequences of the COVID-19 virus on the economy of the United States

2020 ◽  
pp. 56-64
Author(s):  
Kristina Gavrilović ◽  
Miloš Vučeković
Keyword(s):  
United States ◽  
Economic Growth ◽  
Global Economy ◽  
The United States ◽  
Economic Sectors ◽  
Health Crisis ◽  
The Government ◽  
Almost All ◽  
Sustainable Economic Growth ◽  
The Impact

The crisis caused by the COVID-19 virus is not just a global health crisis. The impact of the pandemic, caused by this virus, has strongly affected almost all vital economic sectors of the United States, which has seriously affected the global economy and other financial markets around the world. Significant declining incomes at all levels, rising unemployment, and disruptions in the industrial and transportation sectors are just some of the consequences caused by this virus in the economy of the United States. As the COVID-19 pandemic continues, the United States strongly opposes further reductions in economic growth and profits with several measures taken to mitigate the effects of the virus. In that sense, proactive action by the Government of the United States is necessary to protect economic prosperity and maintain sustainable economic growth for a longer period.

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