From history, Nations rise and fall, with new powers, replacing the old ones. This is because society becomes more complex with more development and this constant growth of complexity usually will hit a point until it becomes a mounting burden, forcing growth to decline. Because of this, I believe that America’s power is now fading. However, we now look to history to find out what led to power in the first place.
Between the decades of the 20th century, considered to be a decade 1950 who illustrated the apex of American power. Then, won the second world war with that generation to settle down. This has created an increased demand for housing with the population growing too. For this reason, the consumption was high and this has fueled America’s growth engines, ushering in an economic boom that has pushed the United States for the glory.
To add, the first credit card was introduced in 1951. This has allowed people to use the debt and use the money to buy what they wanted. Coupled with an increase in the number of malls, huge amounts of paid-up capital in the economy and this guaranteed constant growth, which in turn has attracted more foreign investment.
In addition, he was an increase in the number of interstate highways and the presence of strong growth in the auto sector. This has helped reduce unemployment in various States as they become better connected, allowing work to be more evenly distributed in the United States. With the robust growth of the auto industry, transportation became more readily available. Such improvements in transport and infrastructure greatly reduced travel time, allowing goods to be exported quickly and capital to flow more easily.
In addition, television became a national phenomenon and demand for services by mass media has grown strongly. This led to a boom in the media sector that has provided a platform for advertising. With undertakings with latest and most effective ways to market their products, their operations could expand faster and with this, America enjoyed more growth.
In addition, Boeing introduced the 707 and there was increased glamour to air crew. This resulted in air transport demand to rise, leading to larger airports. As a thriving tourism, were developed further facilities such as Hotels and resorts, giving America a competitive niche. All these led to stronger growth.
In addition, employees back then could expect company pensions and health care. This guarantee has allowed the consumption rise as employees knew that they had a future income to spend. As they had retirement savings (discouraged by the presence of pensions), there was also more income Americans could use for shopping. All these have resulted in increased consumption and higher economic growth.
In addition, China was still a poor nation then Communist. Without stiff competition, the United States could leverage its competitive advantages of free enterprise and Yankee ingenuity. This provided a fertile ground for innovation and creativity, discoveries and great technological advances. With this, the United States has grown faster than other nations who were still recovering from the second world war, pushing it toward a golden age.
In addition, the dollar is the global reserve currency at that time, America was new financial power in the world there was high demand for the currency and people had great confidence in it. This allowed the United States to develop its military, providing a strong deterrent to aggressors and expanding its sphere of influence. Stability and prosperity has attracted investors and when more paid-up capital, growth became stronger.
In conclusion, because of all these factors driving then, America was able to secure its status as a world supremacy. This allowed to heavily influence or even dictate world events. However, many of these factors are now fading. Unless the United States find new niches, is soon when other powers supersede.