The United States of America is the largest economy in the world. The US is also one of the richest nations. No one would argue that America is not a fully developed country – compared to the developing nations of the world the US is significantly more prosperous. However, what people think less about is why the United States is a developed nation? What factors allowed America to develop, and ensure it remains one of the richest countries? Well, we’ll explain…
1. The US Is The Largest Economy in The World
A first reason why the United States is a developed country is because of the size of its economy.
The United States is by far the largest economy in the world. With a GDP of 23.32 trillion dollars, it’s economy is around a quarter of total global GDP. Having a large economy means that the US has significant production outputs, but also that it has the wealth needed to provide a high standard of living for its citizens.
As well as having a large economy, America has seen steady economic growth throughout its history. It is also projected to continue to expand as an economy. Economic growth is one factor contributing to America’s positions as a fully developed country.
Economic size is one of the key indicators of a country’s level of development. The enormous size of the US economy is a major reason why it is a developed nation.
2. America Has A Diverse Economic Base
A second reason why the United States is a developed country is because of its diverse economic base.
For a country to be developed, it must have a dynamic economy. Under developed countries often have economies based on only a few economic sectors – usually agriculture or resource extraction. America is a developed country because its economy encompasses a huge range of economic areas, including technology, manufacturing, financial services, natural resources, retail, pharmaceuticals and farming.
Having a diverse economy not only helps a nation become wealthy, it also provides a degree of protection from economic shocks. Countries that have limited economic bases are more vulnerable to crises that hit their economies. The US has a hugely diverse, and dynamic economy, this prevents many set-backs in the country’s development.
The huge range of highly productive and wealth generating areas within the economy of the United States is a major factor in why it is a developed country.
3. The US Has A High Standard Of living
A third reason why the United States is a developed country is because US citizens have a high standard of living.
One of the key markers of a country’s development is the living standard of its population. A nation’s standard of living encompasses income, comforts, levels of support and services available to a country’s people.
In America, people are generally able to live goods lives – they have decent jobs by global standards, can afford food, housing and transportation, healthcare and education are available and they receive a degree of support from the state if they fall on hard times. This all constitutes a high standard of living and it’s one of the big reasons why America is a developed nation.
A strong indicator of America’s good standard of living is its GDP per capita – this is essentially the amount of money the average American makes. At over 70,000 USD, the GDP per capita of the United States is among the highest in the world, and is pretty much the highest among large economies. The GDP per capita of the US is another reason why it is a developed country.
4. The United States Has Advanced Infrastructure
Another reason why America is a developed country is because is has high quality infrastructure.
Infrastructure is another indicator a nation’s level of development. Having widespread roads, railways and airports, as well as access to utilities and tele-communication networks across a country is vital for it to be developed. Infrastructure is needed to move goods and people both within a nation’s territory and internationally. As the US has some of the best infrastructure in the world, it a major reason why it is a developed country.
Although many would argue that US infrastructure is in need of investment and modernisation, the country still has high quality infrastructure throughout the nation. People and businesses are able to use the country’s infrastructure to complete their economic and leisure activities.
The United States has much better infrastructure than most other countries in the world – a further reason for why it is a developed nation.
5. America Has A Good Education System
One reason why the United States is a developed country is because of its education system.
Education is a further factor that is key to a country becoming developed. Across a nation, children and young people need access to quality schooling if they are to develop the skills needed to take jobs in an advanced economy. This means every child, even in remote areas, must be able to complete elementary and secondary school, and many must go on to universities and higher education institutes.
American children essentially all have access to quality schooling. Education in the United States is free up to the end of high school. Young people who want to go to college can receive scholarships, grants and financial assistance from the state. As a result, 36% of Americans have a college degree. These factors combined are key reasons why the United States is a developed nation.
6. Americans Can Access Quality Healthcare
A further reason why America is a developed country is because of its healthcare system.
For a country to become developed, its whole population needs access to quality medical assistance. This includes people on low incomes and in rural areas. A lack of healthcare makes more people economically unproductive as they must take longer off work when ill or remove themselves from the workforce completely to tend to sick relatives.
Although there are many criticisms of America’s healthcare system, in general it does provide quality care to the majority of people. The healthcare available to people on low incomes, or uninsured people, in the US is still far above that found in the majority of developing countries.
The fact that the United States actually has a widespread and high-quality healthcare system is a significant reason why it is a developed country.
7. The US Can Defend Itself
A final reason why the United States is a developed country is because of its defences.
In order for a country to become developed, it needs to be able to stave off attack. Foreign powers interfering in a country’s internal affairs, acting aggressively, or even seizing territory or resources, holds back many nations development. Developed countries combine a mixture of strong militaries, with favourable geography, to defend from enemies and to allow them to focus on economic development.
The United States has some of the strongest defences of any country. The US military is among the largest in the world and by far the most technologically advanced. America has been able to use it’s economic might to fund innovations in military equipment that make its armed forces superior to almost any other.
Alongside having a hugely powerful armed forces, the United States also has some of the best defensive geography in the world and no significant foes that can pose a threat to its security. These factors combined are a major reason why America is a developed country.