The significance of infrastructure in a nation’s economic growth should not be underestimated. Research indicates that reliable infrastructure is significant in a country’s investment decisions as it has a direct impact on a nation’s economic growth. As a matter of fact, improved infrastructure is a necessity for sustainable development. For any nation to thrive economically, it calls for a well-organized transport network, improved sanitation, enough energy and an effective communication system.
In addition, infrastructure services lead to improved productivity in businesses, homes as well as government services. The time spent to get water, fuel or to get to market places as well as other social centers is extremely significant. Thus, when household connections, transport systems and telecommunication services are reliable, the members of the house can engage in more productive activities.
On the other hand, the expansion of quantity and enhancement of quality of infrastructure also reduces costs and boosts market opportunities for businesses. This leads to improved investment as well as productivity which are crucial in sustaining a country’s economic growth. Besides, the endeavor results to the creation of employment which is also crucial for economic growth.
For many years, the US has had a history of the strongest economy throughout the world. This has mostly been attributed to its infrastructure which ranges from airports, to telegraph lines to a super transport system among others (Altman, 2007). This notwithstanding, the current state of America’s infrastructure has been a concern to many Americans.
The deteriorating state of infrastructure has been linked to the current economic crisis that is being experienced in the United States of America (Altman, 2007). This has impelled an abrupt reaction by some economic analysts in an attempt to ease the effects of aging infrastructure which has negatively impacted on the country’s economic development.
The costs incurred as a result of America’s crumbling infrastructure, seem to be negatively influencing its economic growth. Such costs may be in form of repairing America’s poor road networks, the amount of time spent in traffic and airline delays, the effects of electrical power losses as well as the additional operating expenses.
For these reasons there is need for America to maintain its infrastructure in order to keep up with the rate of growth it has enjoyed in the past and also to remain ahead of other nations. American politicians should start thinking of the long-term benefits attained from investing in infrastructure. On the other hand, the American public should also start viewing the issue of investing in infrastructure from a national point of view (Altman, 2007). They should put their leaders to task in order to ensure the accomplishment of this undertaking.
The US government should come up with policies that are aimed at stabilizing the economy and commence on a quick resurgence of the infrastructure. Such policies should ensure that the recovery process is comprehensive for long-term benefits. Moreover, the crisis should also be used as a catalyst to speed up structural shifts towards a stronger economy in future.
In conclusion, even though the costs incurred in the process of improving America’s infrastructure may seem to be enormous, there is no doubt that the long-term benefits that will be achieved from this undertaking will be massive. For this reason, the US government should set their priorities right and embark on investing in infrastructure. This will result to the creation of employment opportunities, preservation and enhancement of the citizens’ standard of living and enhancement of economic growth.
Altman, D. (2007, June 26). Is Aging Infrastructure Slowing the U.S.? The New York Times. Retrieved from, https://www.nytimes.com/2007/06/26/business/worldbusiness/26iht-Glob27.4.6345676.html