The article I am using for the analysis explores the relationships between strong and weak economies in the United States existing next to each other. The economic situations of various states are carefully followed and watched by the United States Government, and every year the Legislative Exchange Court releases a report about the wealthiest and poorer states, elaborating and analyzing the economic policies of these states, the report also presents ranking of the states that is based on their capacity of economic growth and progress ( Roff, 2014).
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The article states that the latest edition of the report noted that the states where the taxes are lower have more economic growth, opportunities for job creation, and in-migration. The report recommends that the states that have a goal to become more economically prosper and competitive should work on lowering their taxes.
According to the rating, Texas, Utah, Wyoming, and North Dakota are the major forces moving the national economy. The progress happening in these states fully depends on the state economic policy, as the main factors for the rating were Domestic Product Gross, Domestic Migration, and Non-Farm Payroll Employment.
The topic of this article is economic growth that includes both the economy of the whole country and each state separately. The author of the article explains which aspects influence the economic wellness of the United States and how each of the states could improve their performance in order to help the economy of the country. It is a well-known fact that the states of America have been involved in a competition for generations.
The article describing the report that is being released every year by the American Legislative Exchange Court explains the opinion of the economic theoreticians and experts about the factors forming and moving the national economy of the United States. Creating more job opportunities and lowering the taxes are very important factors to attract more potential employees to the state, which will definitely improve its current economic position in the rating of all states. Apparently, Texas is one of the states where the political leaders and aware of this tendency and know the best ways of achieving economic prosperity and development.
The question of stimulation of economic growth is crucial for the United Stated nowadays, and as the author of the article notices, the several most successful states cannot and should not be dragging the whole county’s economy on their shoulders, it is time for other states to start working on changes for their policies to create a better economic environment. A very important factor that tends to drag the development of the American economy down is inequality.
President Obama in his speech mentioned that “inequality is up while social mobility is down,” he stated that this situation is bad for the economy of the country, such tendencies should be addressed, and the level of inequality must be reduced (Brodwin, 2014). The latest researches followed the relationship between “gross inequality” and “net inequality.”
It turns out that redistribution influences the dependence between these two types of inequality. The results of this research prove that the changes to reduce the income redistribution will lead to a lower level of inequality and stimulate faster and effective growth for longer periods of time.
Roff, P. (2014). Take a Cue from the Best States for Business. Web.
Brodwin, D. (2014). Inequality Is Dragging Us Down. Web.