Money, Banking and Global Finance

After 1990 the New Economy was born and the peace dividend was enormous. Facing no significant external dangers, military or economic, it became safe to shift resources to the private sector. From 1990 to 2000, defense spending fell from 5.2% of gross domestic product to less than 3%, the lowest level in the postwar period. And overall, the public sector's role in the economy dwindled. Total government spending on workers and purchases of goods and services also plunged from 20.4% of …

…a highly appreciative rate and indicates a stable economy. Considering all the various aspects of the American economy it can be deduced that it is a stable economy with low unemployment rate, high value of its currency in the international market, high rate of economic growth, and though it has a growing budget deficit but this can be controlled easily. Bibliography Mandel, Michael J. " The Economy and the markets: Rethinking the economy." Business Week 10 January 2001.