Contraction and Expansion in the U.S. Economy

Paper Summary:

This paper discusses capitalism and some of the causes of contraction and expansion in the U.S. economy. The paper shows that, even though the economy seems to be showing great numbers, it does not mean the economy is doing well. The overall economic health of the United States has been sending several mixed messages. The paper examines how the media shows that manufacturing orders are up and new home sales are also up. However, high unemployment figures, major problems with the airlines and growing trends of plant closings due to relocation and globalization send another message.

From the Paper:

"Carl Marx's theory on performance within capitalist economies focuses on the rate of profit. In other words, as the rate of profit increases, capitalism as an entity remains prosperous. This entails that business investments would be high, unemployment would be low and the basic patterns and living standards of the society's workers would inherently rise. But, if that same rate of profit was to decline or to be generally low, prosperity would stop, investments would decline or worse, be nonexistent, unemployment would increase and the obvious result would be that living standards would decline."

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