The United States is a mixed market economy. Economists predict that in years to come they will become more mixed than market.
Economy of the USA
Significant regulatory reform has resulted in the delay or withdrawal of 2,253 pending regulatory actions since January 2017. Successful challenges to compulsory unionization have expanded the right to work, but new minimum wage laws have curtailed low-income job opportunities in some areas. Subsidies for agriculture, health care, green energy, and corporate welfare continue to add billions of dollars per year to the U.S. national debt.
The United States’ economic freedom score is 76.8, making its economy the 12th freest in the 2019 Index. Its overall score has increased by 1.1 points, with significant improvements in scores for tax burden and government integrity far outpacing modest declines in fiscal health, labor freedom, monetary freedom, and trade freedom. The United States is ranked 2nd among 32 countries in the Americas region, and its overall score is above the regional and world averages.The U.S.’s economic freedom ranking has risen six places, and its overall score in the 2019 Index is the highest recorded since 2011. This improvement reflects the impact of major regulatory and tax reforms on economic growth, investment, and business confidence.
America’s and the world’s economic prosperity increasingly depends on the uninterrupted flow of goods and services, people and capital, and information and technology across our borders. The systems that make these flows possible are targeted for exploitation by adversaries, including terrorists and criminals.ICE established the Trade Transparency Unit to identify global TBML trends and conduct ongoing analysis of trade data provided through partnerships with other countries' trade transparency units. One of the most effective ways to identify instances and patterns of TBML is through the exchange and subsequent analysis of trade data for anomalies that would only be apparent by examining both sides of a trade transaction.
Gini index measures the extent to which the distribution of income or consumption expenditure among individuals or households within an economy deviates from a perfectly equal distribution. A Lorenz curve plots the cumulative percentages of total income received against the cumulative number of recipients, starting with the poorest individual or household. The Gini index measures the area between the Lorenz curve and a hypothetical line of absolute equality, expressed as a percentage of the maximum area under the line. Thus a Gini index of 0 represents perfect equality, while an index of 100 implies perfect inequality.
The US economy grew by an annualized 3.2 percent in the first quarter of 2019, easily beating market expectations of 2 percent and following a 2.2 percent expansion in the previous three-month period. Growth was mainly supported by personal consumption expenditures (PCE), private inventory investment, exports, state and local government spending, and nonresidential fixed investment. GDP Growth Rate in the United States averaged 3.22 percent from 1947 until 2019, reaching an all time high of 16.70 percent in the first quarter of 1950 and a record low of -10 percent in the first quarter of 1958.