The U.S. Economy

Paper Summary:

The writer of this paper analyzes the current conditions and future prospects of the 1998 U.S. economy. This paper cites several experts in various related areas including: The stock market, real wage earnings and personal investment. Certain questions are raised in light of the economic, social and political trends touching the way individuals, institutions and the government handle money and the financial future of individuals and the society as a whole. This paper also compares America's economy to that of Japan. The writer discusses the dark side of America's successful economy and the political pressure to link social security to the booming stock market.

From the Paper:

"Sloan puts forth what appears to be a commonsensical view that it is unrealistic (if not mathematically impossible) for the economy and the market to continue to grow at the astounding pace that has broken so many records and brought in so many investors--from institutions to ordinary people anxious to get reap the bounty that the upwardly spiraling stock prices offer. Sloan provides some striking examples of what would happen if the upward trends continue at the current pace. Warren Buffett's Berkshire Hathaway, which closed Friday 24 April 1998 at $70,500 share, and has been growing at about 28.5 percent a year since 1965, if it continues this growth for the next 33 years, would go from its current total value of $87 million to 3,900 percent more--or $340 trillion! Sloan asks that we compare this with the $8.2 trillion that is the current output of the entire U. S. economy."

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