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America the Glutton: Is Our Stomach full? The economic recovery in the US has undoubtedly been sluggish to put it lightly. The economy is exhibiting all of the signs of a recession, without the textbook definition of a recession- two consecutive quarters of declining GDP. The preconditions of economic growth, or incentive system, are as follows: markets, property rights, and monetary exchange. The markets send signals to producers and buyers, causing production to adjust depending on the demand. However demand is also dependent on unemployment, earnings, and general price levels. Property rights give producers and consumers comfort and security in their ventures of investment and spending. Monetary exchange facilitates the transactions of business. Together, “property rights and monetary exchange create incentives for people to specialize in trade, to save and invest, and to discover new technologies”.
Approximate Word count = 481
Approximate Pages = 1.9
(250 words per page double spaced)
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