Welfare in US covers all the policy measures and other initiatives undertaken by the federal government to ensure sustained improvement and wellbeing of society.
Public welfare programs in US are designed to help the underprivileged section of US economy. Optimum utilization of natural resources and fast pace of industrialization are the two factors that are crucial as far as welfare in US is concerned. The social security programs form an important part of welfare in US. Over the years, economic policies of the US federal government have been quite effective in ensuring growth and development of society. There is no denying that the USA has been in good economic and social shape as a result of its excellent socioeconomic policies and strict adherence to the same.
Economic Welfare in US As per the statistics of 2007, GDP of the United States in terms of Purchasing Power Parity has been $13.84 trillion. The real growth rate of GDP at the same time has been 2.2%. All these figures indicate economic stability and welfare in US.
Per capita GDP of the USA has been $45,800 as per the data of 2007. Rate of unemployment in the USA is also on the lower side. As per the statistics of 2007, unemployment rate in the USA is 4.6%. Percentage of population living below the poverty line in USA is low as well. It was only 12% of the entire US population in 2007. Rate of inflation in the USA has been significantly low as well. In 2007 the rate was only 2.9%. All these data point towards economic prosperity of the United States of America.
Social Welfare in US In the US rate of population growth has been 0.883% in 2007. Rate of infant mortality in the USA is 6.3 deaths per 1000 live births. In case of male babies the rate is 6.95 per 1000 live births. As of 2008, in case of female babies the rate has been 5.62 deaths per 1000 live births.
Average life expectancy rate in USA is 78.14 years. In case of men the rate is 75.29 years and the women have a higher life expectancy rate of 81.13 years. All these facts point to the fact that the healthcare systems in the USA are functioning pretty well off late.
Literacy in USA is defined as the ability to read and write by the age of 15. In case of men the rate is 99% and in case of women the rate is 99% as per the estimates of 2003.
In conclusion, it can be said that economic and social systems in the United States make sure that benefits of economic growth and development are distributed across different layers of the US economy. This in turn ensures welfare in US.
Amid concern that last week's trade talks would end in failure and render the World Trade Organisation obsolete, member countries finally reached a global trade reform deal Saturday – the first in the WTO’s 18-year history. But while there was a lot of back patting, what the group actually accomplished is up for debate.
The WTO Multilateral Trade Negotiations in Bali almost failed. By negotiating for one day beyond the scheduled conference time, 159 exhausted nations finally concluded an agreement.
Professor at Columbia University. Recipient of the Nobel Memorial Prize in Economic Sciences in 2001 & the John Bates Clark Medal in 1979. Author of "Freefall: America, Free Markets", "The Sinking of the World Economy", "Globalisation and its Discontents" & "Making Globalisation Work".
Eric J. Gleacher Distinguished Service Professor of Finance at the Booth School of Business at the University of Chicago. IMF’s Chief Economist from September 2003 to January 2007. Inaugural recipient of the Fischer Black Prize.
CEO and co-CIO of PIMCO. Served as President and CEO of the Harvard Management Company for 2 years, while also working at the IMF for 15 years. In 2008, his book "When Markets Collide", won the Financial Times award for Business Book of The Year in addition to being named as the one of the best business books of all time by The Independent.
Mario I. Blejer is a former governor of the Central Bank of Argentina and former Director of the Center for Central Banking Studies at the Bank of England. Eduardo Levy Yeyati is Professor of Economics at Universidad Torcuato Di Tella and Senior Fellow at The Brookings Institution.