How is the U.S. national economy different from those of other nations? 100 words minimum please!© BrainMass Inc. brainmass.com August 20, 2018, 1:25 am ad1c9bdddf
The U.S. national economy is different from other nations because it has a society and government founded on inclusive institutions. Other countries are established based on extractive institutions.
Synonymous with Inclusive institutions are "secure property rights, law and order, markets and state support (public services and regulation) for markets; open to relatively free entry of new businesses; ...
This is a brief discussion on what makes the U.S. national economy distinct from other countries of the world in the light of Acemoglu and Robinson's theory.