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Indigenous People's Literature Blog: Teaching Indigenous Languages: Languages matter!

Indigenous People's Literature Blog: Teaching Indigenous Languages: Languages matter!

Chibcha Muisca Forgotten Civilization of the Americas

Chibcha Muisca Forgotten Civilization of the Americas

I started doing some research in my Surname (Guaqueta') from my mom's side of the family and I been asking for years for some information in regards to my heritage of my ancestors. I thought at the time that perhaps the information was lost and that the little bits of information was not enough until I started to look in the encyclopedias from all sources and I never imagine how much information was out there. I started to read some of the articles and come to find out that I am a descendant of the Chibcha Tribe and there is so much information from the Catholic Encyclopedias about the Chibcha tribes and about their culture & language. I have always known that my Ancestors were originated from North America Continent but didn't think that it could be proven until I started to read some articles showing that were in the Florida, Georgia and in South Carolina and according to records it shows that tribes had scouts into Costa Rica, Caribbean areas they had strong ties with other native American tribes I have put in the encyclopedias that I am referencing from because of copyrights and for others to see that I have not added or deleted any information from the sources but its good to know that the information was saved. I also came across a publication dated in 1980's in regards 1770's or older or too present Pryor to 1980 (EDICION 237 Santa Barbara De Arauca)
The rest of the information that I have found is from other sources and Wikipedia it hasn't been easy bringing this information together, but if there is some errors it was not meant intentionally. I am just following the sources and its hyperlink to the original source so it will show that I wanted facts not fiction.
and if the information was not hyperlink I didn't put it in and its not part of this document. I am asking to all those professionals that are historians and linguist that if there is something wrong with the dates and that it came from notes of people that either where present or written after the fact from recollection of witness at the time that it occur or as known fact from other sources that were already published at one time or another, and all I am doing is bringing it to life again. for my own reason that I mention at the beginning. I gather the information because it was time to show that most tribes without me knowing about their culture but knowing about some of their customs I somehow knew that North America was a stumping ground for my ancestors.

I am so Glad that I came across that information. I was basically given up on ever retrieving anything from the past. I am still intrigue with all this information out there, So basically what I am doing is as I uncover information I will be posting on this site and I will continue to update the information because I am willing to show that back in those days there was no borders like there is today and now the borders have come to be countries not by the natives but its was Spaniards and Europeans that wanted to divide and conquer and in the process they killed and claim properties that were not theirs it was stolen and wiped out civilizations due to greed.

http://es.wikipedia.org/wiki/Tocancip%C3%A1
[ edit ] Current shelter
The Tocancipá guard is one of the three survivors of Cundinamarca, although this only has the name, it is almost extinct, their descendants and owners cornered on a hill produces only sterile sand. There is no shadow of which pointed Miguel de Ibarra in 1593.
In 1840 belonged to 857 community members and included the villages of Canavita and La Esmeralda. In his last batch on a flat and fertile pastures were called Los Patos, Desbabadero and The Community, which were seized and sold some others, which came less and was reduced to a small office on the hills, unfit for agriculture, without water, only profitable to exploit sand and stone, culminating stage of the process of their gradual extinction.
Subsisting a dozen families with typical government reorganized under Law 89 of November 25, 1890. The City Council of Indigenous ruled in 1965 that was composed by John Tinjacá, Buenaventura Navas, Angel Maria keypads, Guillermo Moreno, Ignacio Corchuelo, Luis A. Moreno, Jacinto Flautero and Jose Maria Cetina, according to minutes of May 5 of that year. In 1943 the community census gave a total of 525 people, then the council was composed of President, Vice President, Secretary, Treasurer, a villager and two board members.
In their records are kept including the following native names: Guice, Papagayo, Cota, Turma, Nemogá, Guativa, Tijaro, Tinjacá, Suesca Guáqueta, Cuitiva, Cabiatiba, Cacamavena


Chibcha Culture
As in the United States, the general direction of migration seems to have been from north to south, excepting for the tribes of the Chibcha's stock, an offshoot from the main body in Columbia. The celebrated Aztec, whose tribes occupied the valley of Mexico and its immediate environs, had a definite tradition of northern origins, and linguistic evidence shows them to have been closely cognate to the Pima and Shoshone, while their culture was borrowed from the earlier and much more cultured, but less warlike, nations which they had overpowered some five centuries before their own conquest by Cortés in 1519. The empire which they had built up comprised many tribes of diverse stocks, held together only by the superior force of the conqueror, and easily disintegrated by the assaults of the Spaniards. The native civilizations, however, have left their permanent stamp on both Mexico and Central America.

Culture
The social and political organization seems to have been based upon the family group. There was a system of public education in which boys were taught military science, writing, and religious ritual, while girls were instructed in morals and domestic arts. Each civilized nation had an elaborate calendar system, that of the Maya proper being the most intricate, with cycles of 20, 52, and 260 years. The religious systems were characterized by the number and magnificence of their ceremonials, with armies of priests and priestesses, processions, feasts, and sacrifices, and by the general bloody tenor of their sacrifices, especially among the Aztecs, who yearly sacrificed thousands of captives to their gods, the bodies of the victims being afterwards eaten by the priests or by the original captors. The Maya religion, like the people, appears to have been of a milder character, although still admitting human sacrifice. In all these nations the king was of absolute authority. Whole libraries of native literature existed, chiefly of ritual content, written in iconomatic or hieroglyphic characters, upon paper of maguey fibre. Of those which have escaped the fanaticism of the first conquerors some of the most noted (Aztec) are exemplified in Lord Kingsborough's great work. Of the Mayan nations the most valuable literary monument is the "Popol Vuh" of the Kiché of Guatemala, translated by the Abbé Brasseur De Bourbourg. For a comprehensive view of these native civilizations our best authorities are Gomara and Herrara, of the earlier period, with Prescott and Hubert H. Bancroft of our own time. In spite of the exterminating wars of the conquest and the subsequent awful oppression under the slave system, the descendants of the aboriginal races-largely Christianized and assimilated to Spanish forms-still constitute the great bulk of the population between the Rio Grande and the Isthmus.

http://en.wikisource.org/wiki/Catholic_Encyclopedia_(1913) What nation the flat-heads or aborigines of the country may have belonged to, will be discussed in the remarks to Tchikillis’ tale. That there were Creek-speaking Indians on the Atlantic coast as early as 1564, has been shown conclusively in the article Yamassi; but their expulsion from there by the white colonists occurred but one hundred and fifty years later.
A certain objective purpose is inherent in these legends, which is more of a practical than of a historical character; it intends to trace the tribal friendship existing between the Kasiχta and the Chicasa, (Chickasaw) or a portion of the latter, to remote ages. It must be remembered, that both speak different languages intelligible to each other only in a limited number of words. An alliance comparable to this also exists between the Pima and Maricopa tribes of Arizona; the languages spoken by these even belong to different families.
The period when the Chicasa settlement near Kasiχta was broken up by the return of the inmates to the old Chicasa country is not definitely known, but may be approximately set down in the beginning of the eighteenth century. Later on, a war broke out between the Creeks and Chicasa. Kasiχta town refused to march against the old allies, and "when the Creeks offered to make peace their offers were rejected, till the Kasiχta interposed their good offices. These had the desired effect, and produced peace" (Hawkins, p. 83).
Remarks to Milfort’s Legend
Milfort’s "History of the Moskoquis,"or (Muisca) as given above in an extract, is a singular mixture of recent fabrications and distortions of real historic events, with some points traceable to genuine aboriginal folklore.Nobody who has the slightest knowledge of the general history of America will credit the statement that the Creeks ever lived in the northwestern part of Mexico at Montezuma s and Cortez time, since H. de Soto found them, twenty years later, on the Coosa river; and much less the other statement, that they succored Montezuma against the invader s army9 That they met the Alibamu on the west side of Mississippi River is not impossible, but that they pursued them for nearly a thousand miles up that river to the Missouri, and then down again on the other or eastern side of Mississippi, is incredible to anybody acquainted with Indian customs and warfare. The narrative of the Alibamu tribal origin given under: Alibamu, p. 86, locates the place where they issued from the ground between the Cahawba and the Alabama Rivers. That the Creeks arrived in Northern Alabama in or after the time of the French colonization of the Lower Mississippi lands, is another impossibility, and the erection of Fort Toulouse preceded the second French war against the Chicasa by more than twenty years, whereas Milfort represents it as having been a consequence of that war.
It is singular and puzzling that Maskoki legends make so frequent mention of caves as the former abodes of their own or of cognate tribes. Milfort relates, that the Alibamu, when in the Yazoo country, lived in caves. This may refer to the Cha’hta country around "Yazoo Old Village" (p. 108), in Neshoba county, Mississippi; but if it points to the Yazoo river, we may think of the chief Alimamu (whose name stands for the tribe itself), met with by H. de Soto, west of Chicaça, and beyond Chocchechuma. A part of the Cheroki anciently dwelt in caves; and concerning the caverns from which the Creeks claim to have issued, James Adair gives the following interesting disclosure: " It is worthy of notice, that the Muskohgeh cave, out of which one of their politicians persuaded them their ancestors formerly ascended to their present terrestrial abode, lies in the Nanne Hamgeh old town, inhabited by the Mississippi-Nachee Indians,10 which is one of the most western parts of their old-inhabited country." The idea that their forefathers issued from caves was so deeply engrafted in the minds of these Indians, that some of them took any conspicuous cave or any country rich in caves to be the primordial habitat of their race. This is also confirmed by a conjurer s tricky story alluded to by Adair, History, pp. 195. 196. A notion constantly recurring in the Maskoki migrations is that they journeyed east. This, of course, only points to the general direction of their march in regard to their starting point(everything in Red was borrow from the University of montana)Chibcha dictionary and grammar. Anonymous manuscript. Transcription and historical-analytical study by Maria Stella González de Pérez. Instituto Caro y Cuervo, Bogotá, 1987, XIV-396 pp.
"In 1547 it was ordered for the first time that Indians were evangelized in their native language, in 1580 issued a Royal Decree that established the chair of the general language, muisca at the University of Santa Fe in 1770 issued the Royal Decree whereby Carlos III forbade speak indigenous languages ".

Ezequiel Uricoechea Library is the new series of the Instituto Caro y Cuervo. With it is a tribute to the illustrious Colombian scientist, in the middle of last century, devoted the best years of his life to the study of philology and other language arts. His efforts as a researcher and editor were directed to study and compilation of materials produced on indigenous languages ​​in colonial times. Sensitive to the importance that these documents had-and have-for the country's history, he is responsible for the publication of grammars, vocabularies, catechisms and Colombia for several languages. Today, these documents provide valuable input for further comparative studies between the Chibcha language family.
This series will cover a broad sector of the national reality and disseminate the work of researchers, scientists and huimanistas committed to progress and preservation of indigenous peoples. Cover fields such as linguistics, ethnography, sociolinguistics, cultural anthropology and ethnic education. Therefore, this new collection is welcome, as it will be a great contribution to the knowledge of a field so rich, yet so unknown in the country.
The collection starts with "Dictionary and Grammar chibcha. " María Stella González de Pérez made ​​the transcription of manuscripts and historical-analytical study headed by the book. Author of another work are widespread, trajectory studies on the fly or chibcha language, transcription of the manuscript is one more step towards their ideal of an old "sort and classify the existing work on the muisca to make a serious study language, which starts from reliable sources. "
Though the manuscript is an inexhaustible source of ethnographic and historical data for a linguist goes much further: the data contained therein let you set the phonological and grammatical systems of the language now extinct. Muisca obtained structures, will enable comparison with other native languages ​​chibcha still exist in the country and in Central America. This possibility remains expectant researchers working language of this particular family.
The study manuscript in the National Library of Colombia, in the rare book room and curious, anonymous, no place or date of publication and is presented under the title "Dictionary and Grammar chibcha. is filed under the number 158 .
In the historical-analytical study shows the following aspects: external description of the manuscript, explanation of the contents of the work, the manuscript relations with others of their species, origin and general conclusions. The author is crumbling in detail each of these issues, looking back over the events that could have allowed the development of such works during the Spanish colonial period. It analyzes the circumstances that brought the manuscript to the National Library, who may have written and what relationship he had with other works from the same period.
Generally these documents, besides being textbooks for those who needed to learn the language, obviously, the missionaries, were guides for evangelization. Ie manuals and guides were indispensable in the daily work of catechetical. Therefore it is common that side of the grammar appear catechism, prayers, a confession and sermons in the native tongue. Duplicating the original for several missionaries could use. The similarities found between the various manuals that still exist seem to have two motivations:
1. Some scribes used to skip those parts deemed necessary, while others increased those considered poor, even those who had merged a number of treaties. Everything depended on the initiative and responsible decision to reproduce the manuscripts.2. At that time, 1547-1578, copies should be countless, as the method of teaching in the department of language muisca was that the reader master the text dictated his guide, his work usually, the doctrinaire students.
This seems to be the explanation for the interrelationship of content that occurs in the manuscripts have been preserved. Ezequiel Uricoechea grammar, one of the most consulted, seems to come from the merger of several of these ancient manuscripts.



As the similarity that exists between the various treaties on muisca is a constant, the author of the initial study based its analysis on the comparison of manuscript with 158 other works of their kind. At the conclusion raises the possibility that manuscript is an original work, but rather the collection, merging or copying of other works.
The texts were taken as reference for this analysis are: Lugo, Fray Bernardo de: Grammar in the general language of the New Kingdom, called Fly, Madrid, Bernardino de Guzman, 1619.
Quijano Otero, Jose Maria (ed): Grammar, phrases, sentences, cathezismo, confessonario and the language bocabulario chibcha, 1620, Madrid, Imprenta de Fortanet, 1883, pp. 226-295.
Uricoechea, Ezekiel, grammar, vocabulary, catechism and confession of the Chibcha language. According to ancient manuscripts and unpublished anonymous, increased and Fixed, Paris, Maisonneuve, Booksellers, Publishers, 1871.
Ortegón Acosta, Joaquín: Language and Aboriginal chibcha Cundinamarca, Bogotá, Printing Department, 1938.
Salmoral Lucena, Manuel: Grammar chibcha XVII Century, in Journal of Anthropology, vol. XIII, Bogotá, Imprenta Nacional, 1967, pp. March 1-96, and vol. XIV, Bogotá, Imprenta Nacional, 1970, pp. 201-220.
Sections of the manuscript
Grammar : A study of language teaching. Linguistic methods are used at the time. The main objective is to teach language for practical purposes. The author takes as a guide and master Latin, the language model for any approach that would try to make into another language. Despite these limitations, the author shows signs of ingenuity in your description, since the structure of language that forces you to work out the general framework imposed on it by Latin. This part of the manuscript contains precise instructions for the handling of language, both in written form that is provided by the author, and for the oral form.
The first part is instructed about the signs used in writing the language, it provides guidance on the basic sounds and those with which the Spanish do not have the time. The author provides guidelines provided by establishing a parallel with the dominant language. Then there was no theoretical basis for describing a language based on the characteristics of its own, without resorting to language structure pattern.
The second part of this chapter it is proper grammar. You receive a set of rules that try to bring the learner toward the correct use of language. Is described from a normative view, the usual at the time.
Vocabulary: It includes 126 pages and about 3,700 entries muisca Spanish. It is the largest part of the document. The terms are sorted alphabetically, but there is no strict sequence. The entry for the B was added later. He attributes the transcriber Don Ezequiel Uncoechea. The vocabulary allows an approach to language indirectly presents several semantic fields that allows an approach to concepts and world views of the Muisca. It is also possible to see through vocabulary general ideas on food, clothing, health, body parts, plants, kinship terms, etc.. Perhaps this would allow scholars from various fields to deepen each of these issues.
As a simple example of the wealth that lies in the manuscript and that the specialist could have exploited more fully as follows: Rearranging the terms of relationship could be achieved by an approach to social organization
Guaianases 'Mama'paba 'dad'Fabia 'dad' (vocative)Shiite 'son', 'daughter'chune 'grandson', 'grandchild'chyty 'firstborn' 'Eldest'gye 'daughter' (with respect to the father)gyeca 'daughter' (with respect to the law)pquaia zquyhyczpaba 'my stepfather'mquyhycpquampaba 'your stepfather'pquaia zquyhyczuaia 'stepmother'mpquyhycpquaia mguaia 'your stepmother "
Grammar would also work, such as the system of personal pronouns:
hycha 'I'furniture 'you'Yse 'he / she'chie 'we'mie 'you'yse 'they / them'
Both of the above data and the present one might infer that there was no difference in male / female.
Or the possible formation of compounds:
cat 'Fire'gatymo that 'blight'gatazbquysqua 'making fire'
Catechism and prayers: In this part there are the issues related to the primary purpose: the indoctrination of the Indians. The prayers, commandments, sacraments, works of mercy, the confessional and sermons, impresindible in the work of all doctrinaire. These were the weapons used by missionaries to win souls for the Christian faith.
Below is a sample of what the doctrinaire to ask, and what the Indian had to answer:
Diosz Chacuchu "Tell me, ohaguenua? God? "Diosz watered down "CI, Dioz ay"GUEFloa God? How much does Goday? "Atugue God "one God is"Santíssima "Who is theTrinity sieobe? Most Holy Trinity?Paba, gosh, "Father, Son andHoly Spirit, Holy Spiritmica person and three peopleDioz atuge. one God. "
For persignación:
Santa Cruz "For the signalouch huszona the Holy Crosschisabac ourchiybanto qua deliver us enemieschiga Diosz Lord. . "nga SpiritSanto ahyca.Amen.
In the previous sample is easy to see how certain concepts that existed between muiscas were introduced into their language by way of loan words.
AMAYA TRILLO BRAND
http://es.wikipedia.org/wiki/Lenguas_chibchas

Chibcha (Muisca) Late prehistoric culture in South America. Bogotá and Tunja were the main centres. The Chibcha culture flourished between 1000 and 1541, and rivalled the Inca in political sophistication. The inhabitants, c.750,000, developed remarkable city-states. Their pottery, weaving and goldsmithing were inferior to Inca work. The Chibcha were conquered by the Spanish (1536–41). In modern times, Chibcha refers to a Native American language family, whose speakers inhabit s Panama and n Colombia.

The earliest attempt at a classification of the Indian languages of the United States and British America was made by Albert Gallatin in 1836. The beginning of systematic investigation dates from the establishment of the Bureau of American Ethnology under Major J.W. Powell in 1879. For the languages of Mexico and Central America, the basis is the "Geografía" of Orozco y Berra, of 1864,
supplemented by the later work of Brinton, in his "American Race" (1891), and corrected and brought up to the latest results in the linguistic map by Thomas and Swanton now in preparation by the Bureau of Ethnology.
For South America, we have the "Catálogo" of Hervas (1784), which covers also the whole field of languages throughout the world; Brinton's work just noted, containing the summary of all known up to that time, and Chamberlain's comprehensive summary, published in 1907.

To facilitate intertribal communication, we frequently find the languages of the more important tribes utilized by smaller tribes throughout the same region, as Comanche in the southern plains and Navajo (Apache) in the South-West. From the same necessity have developed certain notable trade jargons, based upon some dominant language, with incorporations from many others, including European, all smoothed down and assimilated to a common standard. Chief among these were the "Mobilian" of the Gulf states based upon Choctaw; the "Chinook jargon" of the Columbia and adjacent territories of the Pacific coast, a remarkable conglomerate based upon the extinct Chinook language; and the lingoa geral of Brazil and the Paraná region, based upon Tupí-Guaraní. To these must be added the noted "sign language" of the plains, a gesture code, which answered every purpose of ordinary intertribal intercourse from Canada to the Rio Grande.


The University of Montana Timucua updated 8-25-2004 Timucua (Macro-Chibchan) belongs to the Timucuan-Warao sub-branch of theChibchan-Paezan branch of the Macro-Chibchan family of languages. Timucua wasspoken in southern Georgia and northeastern Florida. It is now extinct, but was in usein the 1500's and early 1600's when various explorers and missionaries encountered itand mentioned it in their writings. It differed greatly from the languages of surroundinggroups; instead it shows similarities to other Chibchan languages, especially Warao,which are spoken in Central and South America. Since archaeological evidence doesnot support a new group appearing in the area around that time, any migration must havetaken place at least a millennium earlier. Religious books having both Timucua andSpanish were published between 1595 and 1635, as well as works mentioning the grammarof the language; most of the latter are in Spanish, French, or Nahuatl. Dialects includeAcuera, Agua Fresca, Itafi, Mocama, Tucururu, Yufera, Oconi, Potano, Tawasa, Yustaga,and Timucua Proper. 975.901 Milanich, Jerald TM637t The Timucua. -- S.l. : Blackwell Publishers, 1996 RID: 95-40289 RID #: tim00001



















Sculpture of a Chibchan-Sutagao Native American standing at the entrance of Fusagasugá,

Economy Comparison South America Versus United States

analyses of the economy United States vs South America
As you can see both countries are in this packet and an you will see my concerns about the economy in the United States and if you take South America as 1 nation without considering the currency differences per dollar value
but from the information as two nations it too will scare you.

South America United States
Population 390.200,000 Population 310,000,000
Poverty level 17% Poverty level 14.4%
Unemployment average 9.9% Unemployment average 9.6%
Labor force 193.6 Labor force 154.5
Annual growth 1.6% Annual Growth 2.4%
External debt 100,300 Billion of 1.3 GDP External debt 14 Trillion or 13.88 of GDP
National Income Gross (NIG)62,880,000 National Income Gross NIG)9.780,000,000,000

The United States is largest and the first country in the world that the economy is the largest by far. the examples of South America. The economy is from 12 countries which includes Argentina,Chile,Uruguay,Venenzuela,Brazil,Colombia,Suriname, Peru, Ecuador, Guyana, Paraguay, Bolivia.if you combine all off the twelve nations in South America that are listed versus the United States line for line it shows that economy is not growing and north america or south america all economist can not agreed on the reality of what is in the future and yet they wont have a discussion of what is happening in our world until we have an honest discussion of the economy in the US. and fix the problems with housing and urban development. I have said all along that until housing drops its value 32% below of what it was in 2007 values it will cause chaos and misinformation of the reality of the economy.

Economy comparison South America vs United States

analyses of the economy United States vs South America
As you can see both countries are in this packet and an you will see my concerns about the economy in the United States and if you take South America as 1 nation without considering the currency differences per dollar value
but from the information as two nations it too will scare you.

South America United States

Population 390.200,000 Population 310,000,000
Poverty level 17% Poverty level 14.4%
Unemployment average 9.9% Unemployment average 9.6%
Labor force Labor force 154.5
Annual growth 1.6% Annual Growth 2.4%
External debt 100,300 Billion of 1.3 GDP External debt 14 Trillion or 13.88 of GDP
National Income Gross (NIG)62,880,000 9.780,000,000,000

Comparisons on the economy United States and South America

Please read:
A personal appeal from
Wikipedia founder Jimmy Wales Economy of South America
From Wikipedia, the free encyclopediaJump to: navigation, search
Economy of South America
During 2003 unless otherwise stated Population: 390,173,000
GDP (PPP): $4.061 trillion (2009)
GDP (Currency): $2,865 trillion (2009)
GDP/capita (PPP): $10,406 (2009)
GDP/capita (Currency): $7,343 (2009)
Annual growth of
per capita GDP: 9.00% (2006)
Income of top 1%: 44.37%
Millionaires: 400,000 (0.07%)
Unemployment 9% (2002)
*Most numbers are from nationmaster.com from 2002, some numbers exclude certain countries for lack of information.
See also: Economy of the world – Economy of Africa – Economy of Asia – Economy of Europe – Economy of North America – Economy of Oceania – Economy of South America
edit

The economy of South America comprises around 382 million people living in twelve nations and three territories. It contributes 6% of the world's population.

Contents [hide]
1 Economic development
1.1 GDP ranks as of 2009
1.2 GNI per capita
1.3 External Debt 2009
1.4 Annual economic growth
1.5 Unemployment rate (lowest to highest)
1.6 Poverty line (lowest to highest)
1.7 Annual inflation
1.8 Public debt (lowest to highest)
2 Trade blocks
3 Currency
3.1 References
4 Economic sectors
4.1 Agriculture
4.2 Manufacturing
4.3 Transport
5 Economy by country
6 References
7 See also

[edit] Economic development

São Paulo, Brazil. One of the financial centers of South America, and also the fifth biggest city in the world. See List of metropolitan areas by population.As of early 2007, South America is experiencing great economic development, with Venezuela, Colombia, Argentina, Uruguay and Peru growing their economies by over 8% per annum. Brazil's economy, on the other hand, is expected to grow by a more sluggish pace during the year.

South America relies heavily on the exporting of goods. On an exchange rate basis Brazil (the seventh largest economy in the world and the second largest in the Americas) leads the way in total amount of exports at $137.8 billion dollars followed by Chile at $58.12 billion and Argentina with $46.46 billion.[1]

[edit] GDP ranks as of 2009
GDP (nominal) 2009
Note: French Guiana, unlisted here, had a total GDP of US$3.52 billion in 2006 (at real exchange rates, not at PPP).[2]

Rank in world Country GDP
2010
8 Brazil $1,918,039 million
27 Venezuela $387,295 million
30 Argentina $340,065 million
36 Colombia $228,836 million
46 Chile $161,781 million
51 Peru $126,766 million
65 Ecuador $57,303 million
84 Uruguay $31,528 million
99 Bolivia $17,627 million
103 Paraguay $14,668 million
151 Suriname $2,962 million
153 Guyana $2,024 million
Source: CIA World Factbook[3]

GDP per capita (nominal) 2009
Note: French Guiana, unlisted here, had a GDP per capita of US$17,336 in 2006 (at real exchange rates, not at PPP).[2]

Rank in world Country GDP
per capita
52 Argentina $14,561
53 Chile $14,341
62 Uruguay $13,163
66 Venezuela $12,201
75 Brazil $10,525
83 Colombia $8,963
86 Suriname $8,641
87 Peru $8,638
90 Ecuador $7,881
97 Guyana $6,680
117 Paraguay $4,533
118 Bolivia $4,455
Source: List of countries by GDP (PPP) per capita

[edit] GNI per capita
Gross national income (GNI) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. GNI per capita is
Country GNI
per capita
Chile $9,460
Uruguay $9,400
Brazil $8,070
Argentina $7,600
Panama $6,740
Peru $4,160
Colombia $4,950
Ecuador $3,940
Suriname $3,200
Paraguay $2,280
Guyana $1,450
Bolivia $1,630
Source: World Bank[4]

[edit] External Debt 2009
External debt (or foreign debt) is that part of the total debt in a country that is owed to creditors outside the country. The debtors can be the government, corporations or private households. The debt includes money owed to private commercial banks, other governments, or international financial institutions such as the IMF and World Bank.
Rank in world Country External Debt
26 Brazil $216.1 billion
33 Argentina $118.0 billion
47 Chile $49.18 billion
48 Colombia $46.44 billion
49 Venezuela $43.30 billion
63 Peru $27.81 billion
73 Ecuador $13.28 billion
75 Uruguay $12.61 billion
78 Panama $12.04 billion
108 Bolivia $3.80 billion
117 Paraguay $3.220 billion
152 Guyana $804.3 million (30 September 2008 est.)
159 Suriname $504.3 million (2005 est.)
Source: CIA World Factbook[5]

[edit] Annual economic growth
Expected for 2010 according to the CIA.
Country Annual economic growth (%)
Bolivia 3.3%
Guyana 2.3%
Panama 2.4%
Suriname 2.0%
Uruguay 1.9%
Peru .9%
Colombia .1%
Brazil -.2%
Ecuador -.8%
Chile -1.7%
Argentina -2.7%
Venezuela -3.3%
Paraguay -3.4%
Source: List of countries by GDP (real) growth rate[6]

National banks offer other figures.

[edit] Unemployment rate (lowest to highest)
Unemployment rate
(%)

Paraguay 5.6
Uruguay 7.6
Panama 7.0
Venezuela 7.9
Ecuador 8.5
Argentina 8.7
Peru 8.1
Brazil 8.1
Bolivia 8.5
Suriname 9.5
Chile 9.6
Colombia 12.0
Guyana N/A
Source: CIA World Factbook[7]

[edit] Poverty line (lowest to highest)
Year of
estimate Country Population below
poverty line (%)

2009 Uruguay 13.7
2009 Argentina 13.9
2009 Chile 15.1 [8]
2008 Paraguay 19.4
2008 Brazil 26
2008 Ecuador 35.1
2009 Peru 36.8
2005 Venezuela 37.9
2008 Colombia 46.8
2006 Bolivia 60
2002 Suriname 70
N/A Guyana -
Source: CIA World Factbook[9]

[edit] Annual inflation
Country Annual inflation(%)
Peru 1.80%
Ecuador 2.20%
Brazil 3.60%
Chile 4.40%
Colombia 5.50%
Suriname 6.40%
Paraguay 8.10%
Uruguay 8.10%
Bolivia 8.70%
Argentina 8.80%
Guyana 12.20%
Venezuela 18.70%
Source: CIA World Factbook[10]

[edit] Public debt (lowest to highest)
Refers to what is owed by the combined public sector to both domestic and foreign creditors.
Country Public debt (% of GDP)

Chile 6.10
Venezuela 18.0
Ecuador 22.10
Paraguay 24.10
Peru 24.80
Bolivia 42.00
Panama 44.70
Colombia 45.80
Argentina 48.60
Uruguay 56.60
Brazil 60.00
Guyana N/A
Suriname N/A
Source: CIA World Factbook[11]

[edit] Trade blocks
The biggest Trade Block in South America is Mercosur (or Mercosul in Portuguese), comprising Argentina, Brazil, Paraguay, Uruguay and Venezuela. Associate states include Bolivia, Chile, Colombia, Ecuador and Peru. The second-biggest trade bloc is the Andean Community of Nations comprising Bolivia, Colombia, Ecuador, Peru, Venezuela and as of 2006 Chile. The Union of South American Nations is expected to merge both trade blocs.

[edit] Currency
Below is a list of the currencies of South America, with exchange rates between each currency and both the euro and US dollars.

Country Currency 1 Euro = 1 USD = Central bank
Argentina Argentine peso (ARS) 4.60307 3.13996 Banco Central de la República Argentina [1]
Bolivia Bolivian boliviano (BOB) 11.0985 7.57080 Banco Central de Bolivia [2]
Brazil Brazilian real (BRL) 2.58963 1.76650 Banco Central do Brasil [3]
Chile Chilean peso (CLP) 701.020 $507.580 Banco Central de Chile [4]
Colombia Colombian peso (COP) 2,869.97 1,957.74 Banco de la República [5]
Ecuador U.S. dollar (USD) 1.46611 1 Federal Reserve [6]
French Guiana Euro (EUR) 1 0.682078 European Central Bank [7]
Guyana Guyanese dollar (GYD) 297.547 202.950 Bank of Guyana [8]
Paraguay Paraguayan guaraní (PYG) 6,802.74 4,640.00 Banco Central del Paraguay [9]
Peru Peruvian nuevo sol (PEN) 4.26966 2.72440 Banco Central de Reserva del Perú [10]
Suriname Surinamese dollar (SRD) 4.10543 2.80000 Centrale Bank van Suriname [11]
Uruguay Uruguayan peso (UYU) 31.1529 21.2470 Banco Central del Uruguay [12]
Venezuela Venezuelan bolívar fuerte (VEF) 3.14447 2.14460 Banco Central de Venezuela [13]

Table correct as of January 16, 2008; click price to obtain a current quote

[edit] References
xe.com Universal Currency Converter provides latest figures.
[edit] Economic sectors
[edit] Agriculture
Main products include: Coffee, soybeans, wheat, rice, corn, sugarcane, cocoa, citrus, beef. Bananas and shrimp are also important agricultural products for many countries (like Ecuador).

[edit] Manufacturing
Industries are also important to South America’s economy. Most South American factories produce food items, consumer goods, or building materials. More developed countries also produce cars, trucks, and airplanes. Some of these companies import all the parts and raw materials needed for manufacturing which limits the amount of profits they can receive for the item. An important factor that is crucial to the success of industries is importing and exporting. The organization called Mercosur helps to expand trade, improve transportation, and reduce tariffs among member countries. The Andean Community mimics such cooperation, but limits exist due to crucial road barriers.

[edit] Transport
At the beginning of August 2008, Venezuelan president Hugo Chavez and his colleagues from Argentina and Brazil spoke about Latin American integration and Chavez threw an ambitious idea out: a train that would connect Venezuela's capital (Caracas) with Argentina's (Buenos Aires), and cities in between [12].

[edit] Economy by country
Economy of:

Argentina
Bolivia
Brazil
Chile
Colombia
Ecuador
French Guiana
Guyana
Panama
Paraguay
Peru
Suriname
Uruguay
Venezuela


[edit] References
1.^ CIA - The World Factbook - Rank Order - Exports
2.^ a b (French) INSEE-CEROM. "Les comptes économiques de la Guyane en 2006 : premiers résultats". http://prod-afd.afd.zeni.fr/jahia/webdav/site/cerom/users/admin_cerom/public/Pdf/CR2006_guy.pdf. Retrieved 2008-01-14.
3.^ List of countries by GDP (PPP)
4.^ http://siteresources.worldbank.org/DATASTATISTICS/Resources/GNIPC.pdf
5.^ CIA - The World Factbook - Rank Order - Debt - external
6.^ CIA - The World Factbook - Rank Order - GDP - real growth rate
7.^ CIA - The World Factbook - Rank Order - Unemployment rate
8.^ Chile’s Poverty Levels Rise For First Time in Two Decades
9.^ CIA - The World Factbook - Field Listing - Population below poverty line
10.^ https://www.cia.gov/library/publications/the-world-factbook/rankorder/2092rank.html
11.^ CIA - The World Factbook - Rank Order - Public debt
12.^ http://www.treehugger.com/files/2008/09/train-to-cross-south-america-southern-train-venezuela-argentina.php
[edit] See also
South America
[show]v • d • eUnion of South American Nations

Members Argentina · Bolivia · Brazil · Chile · Colombia · Ecuador · Guyana · Paraguay · Peru · Suriname · Uruguay · Venezuela

Topics Cusco Declaration · Constitutive Treaty · President Pro Tempore · Secretary General · Bank of the South · South American Parliament · Initiative for Infrastructure Integration of South America · Mercosur · Andean Community · 2004 South American Summit · South American Energy Summit

[show]v • d • eEconomy of South America

Sovereign states Argentina · Bolivia · Brazil · Chile · Colombia · Ecuador · Guyana · Panama1 · Paraguay · Peru · Suriname · Trinidad and Tobago1 · Uruguay · Venezuela


Dependencies and
territories Aruba1 / Bonaire1 / Curaçao1 (Netherlands) · Falkland Islands / South Georgia and the South Sandwich Islands (United Kingdom) 2 · French Guiana (France)


1 Territories also in or commonly considered to be part of North America. 2 Territories also in or commonly considered to be part of Antarctica.

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From Wikipedia, the free encyclopediaJump to: navigation, search
Economy of The United States

Rank 1st (nominal) / 1st (PPP)
Currency United States Dollar (USD)
Fiscal year October 1 – September 30
Statistics
GDP $14.266 trillion (2009)[1] (nominal; 1st)


$14.289 trillion (2009)[1] (PPP; 1st)
GDP growth -2.4% (2009)
GDP per capita $46,442 (2009)[1] (nominal; 17th)

$46,442 (2009)[1] (PPP; 6th)
GDP by sector agriculture: (1.2%), industry: (21.9%), services: (76.9%) (2009 est.)
Inflation (CPI) 1.1% (August 09-10)[2]
Population
below poverty line 14.3% (2009)[3]
Gini index 45 (List of countries)
Labor force 154.5 million (includes unemployed) (2009 est.)
Labor force
by occupation farming, forestry, and fishing 0.6%, manufacturing, extraction, transportation, and crafts 22.6%, managerial, professional, and technical 35.5%, sales and office 24.8%, other services 16.5%

note: figures exclude the unemployed (2007)
Unemployment 9.6% (August 2010)[4]
Main industries petroleum, steel, motor vehicles, aerospace, telecommunications, chemicals, creative industries, electronics, food processing, consumer goods, lumber, mining, defense
Ease of Doing Business Rank 5th[5]
External
Exports $1.057 trillion f.o.b (2009 est.)[6]
Export goods agricultural products (soybeans, fruit, corn) 9.2%, industrial supplies (organic chemicals) 26.8%, capital goods (transistors, aircraft, motor vehicle parts, computers, telecommunications equipment) 49.0%, consumer goods (automobiles, medicines) 15.0% (2009)
Main export partners Canada, 13.2%; Mexico, 8.3%; China, 4.3%; Japan, 3.3%. (2009)[7]
Imports $1.558 trillion c.i.f. (2009 est.)[6]
Import goods agricultural products 4.9%, industrial supplies 32.9% (crude oil 8.2%), capital goods 30.4% (computers, telecommunications equipment, motor vehicle parts, office machines, electric power machinery), consumer goods 31.8% (automobiles, clothing, medicines, furniture, toys) (2009)
Main import partners China, 15.4%; Canada, 11.6%; Mexico, 9.1%; Japan, 4.9%; Germany, 3.7%. (2009)[7]
FDI stock $2.398 trillion (31 December 2009 est.)
Gross external debt $13.77 trillion (30 June 2008)
Public finances
Public debt $13.2 trillion (July 2010)[8] 88% of GDP
Revenues $2.106 trillion (2009)[9]
Expenses $3.515 trillion (2009)[9]
Economic aid ODA $19 billion, 0.2% of GDP (2004)[10]
Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US dollars

Throughout this article, the unqualified term "dollar" and the $ symbol refer to the US dollar.
The economy of the United States is the world's largest national economy. Its nominal GDP was estimated to be $14.3 trillion in 2009, approximately a quarter of nominal global GDP.[1][11] Its GDP at purchasing power parity was also the largest in the world, approximately a fifth of global GDP at purchasing power parity.[1] The U.S. economy also maintains a very high level of output per capita. In 2009, it was estimated to have a per capita GDP (PPP) of $46,381, the 6th highest in the world.

Historically, the U.S. economy has maintained a stable overall GDP growth rate, a low unemployment rate, and high levels of research and capital investment funded by both national and, because of decreasing saving rates, increasingly by foreign investors. It has been the world's largest national economy since 1944 and remains the world's largest manufacturer, representing 19% of the world's manufacturing output. In 2009, consumer spending, coupled with government health care spending constituted 70% of the American economy.[12] About 30% of the entire world's millionaire population reside in the United States (in 2009).[13] Furthermore, 40% of the world's billionaires are American.[14] The US is also home to the world's largest stock exchange, the New York Stock Exchange. It also boasts the world's largest gold reserves and the world's largest gold depository, the New York Federal Reserve Bank. The United States is also home to 139 of the world's 500 largest companies, which is almost twice that of any other country.[15] A large contributor to the country's success has also been a very strong and stable currency. The US dollar holds about 60% of world reserves, as compared to its top competitor, the euro, which controls about 24%.

Since the 1960s, the United States economy absorbed savings from the rest of the world. The phenomenon is subject to discussion among economists. The US is by far the most heavily invested-into country in the world, with foreign investments made in the US measuring almost $2.4 trillion, which is more than twice that of any other country.[16] The US is also by far the largest investor in the world, with US investments in foreign countries totaling over $3.3 trillion, which is almost twice that of any other country.[17] Like other developed countries, the United States faces retiring baby boomers who have already begun withdrawing from their Social Security accounts; however, the American population is young and growing when compared to Europe or Japan. The United States public debt is in excess of $13 trillion and continues to grow at a rate of about $5.48 billion each day by direct calculation between Jan 31,2010 and August 31,2010. [18] and [19] Total public and private debt was $50.2 trillion at the end of the first quarter of 2010, or 3.5 times GDP.[20] Domestic financial assets totaled $131 trillion and domestic financial liabilities totaled $106 trillion.[21]

The American labor market has attracted immigrants from all over the world and has one of the world's highest migration rates. The United States is ranked fourth, down from first in 2008-2009 due to the economic crisis, in the Global Competitiveness Report.[22] The country is one of the world's largest and most influential financial markets, home to major stock and commodities exchanges like NASDAQ, NYSE, AMEX, CME, and PHXL.

Contents [hide]
1 History
1.1 After the Great Depression
2 Overview
3 Education
4 Immigration
5 Employment
6 Income and wealth
7 Financial position
8 Sectors
8.1 Energy
8.2 Agriculture
8.3 Manufacturing
8.4 Finance
9 International trade
10 Economic predictions and forecasting
11 Currency and central bank
12 Government involvement
12.1 Regulations
12.2 Taxation
12.3 Expenditure
13 See also
14 References
15 External links

[edit] History
Main article: Economic history of the United States
The economic history of the United has its roots in European settlements in the 16th, 17th, and 18 th centuries. The American colonies went from marginally successful colonial economies to a small, independent farming economy, which in 1776 became the United States of America. In 180 years the United States grew to a huge, integrated, industrialized economy that still makes up over a quarter of the world economy. The main causes were a large unified market, a supportive political-legal system, vast areas of highly productive farmlands, vast natural resources (especially timber, coal and oil), a cultural landscape that valued entrepreneurialism, a commitment to investing in material and human capital, and at times a willingness to exploit labor. In addition, the U.S. was able to utilize these resources due to a unique set of institutions designed to encourage utilization and extraction.[citation needed] As a result, the U.S.'s GDP per capita converged on and eventually surpassed that of the U.K., as well as other nations that it previously trailed economically. The economy has maintained high wages, attracting immigrants by the millions from all over the world.[23]

In the 19th century, recessions frequently coincided with financial crises. Because of the great changes in the economy over the centuries, it is difficult to compare the severity of modern recessions to early recessions.[24] Recessions after World War II appear to have been less severe than earlier recessions, but the reasons for this are unclear.[25] The Depression of 1893 was one of the worst in American history with the unemployment rate exceeding 10% for half a decade.[26]

[edit] After the Great Depression
For many years following the Great Depression of the 1930s, when the danger of recession appeared most serious, the government sought to strengthen the economy by spending heavily itself or cutting taxes so that consumers would spend more, and by fostering rapid growth in the money supply, which also encouraged more spending. In the 1960s, economic woes brought on by the costs of the Vietnam conflict, major price increases, particularly for energy, created a strong fear of inflation. As a result, government leaders came to concentrate more on controlling inflation than on combating recession by limiting spending and tightening credit.[citation needed]

Ideas about the best tools for stabilizing the economy changed substantially between the 1930s and the 1980s. From the New Deal era that began in 1933, to the Great Society initiatives of the 1960s, national policy makers relied principally on fiscal policy to influence the economy. The approach, advanced by British economist John Maynard Keynes, gave elected officials a leading role in directing the economy, since spending and taxes are controlled by the U.S. President and the Congress. The economy and living standards grew strongly during this era, but a period of high inflation, interest rates and unemployment after 1973 weakened confidence in fiscal policy as a tool for regulating the overall pace of economic activity, and instead, a combination of loose monetary policy and record budget deficits, both financed partly with foreign direct investment, became prominent as tools for reigniting economic growth after 1981.[citation needed]

The U.S. economy grew by an average of 3.8% from 1946 to 1973, while real median household income surged 55% (or 1.6% a year).[3][27] The economy since 1973, however, has been characterized by both slower growth (averaging 2.7%), and nearly stagnant living standards, with household incomes increasing by 10%, or only 0.3% annually.[3] The worst recession in recent decades, in terms of lost output, occurred during the 2008 financial crisis, when GDP fell by 3.9% from the spring of 2008 to the spring of 2009. Other significant recessions took place in 1957–58, when GDP fell 3.7%, following the 1973 oil crisis, with a 3.1% fall from late 1973 to early 1975, and in the 1981–82 recession, when GDP dropped by 2.9%.[28][29] Recent, mild recessions have included the 1990–91 downturn, when output fell by 1.3%, and the 2001 recession, in which GDP slid by 0.3%; the 2001 downturn lasted just eight months.[29] The most vigorous, sustained periods of growth, on the other hand, took place from early 1961 to mid 1969, with an expansion of 53% (5.1% a year), from early 1991 to late in 2000, at 43% (3.8% a year), and from late 1982 to mid 1990, at 37% (4% a year).[28]

Since 1976, the US has sustained trade deficits with other nations, and since 1982, current account deficits; the nation's long-standing surplus in its trade in services was maintained, however, and reached US$140 billion yearly in 2008 and 2009. In recent years, the primary economic concerns have centered on: high household debt ($11 trillion, including $2.5 trillion in revolving debt),[30] high net national debt ($9 trillion), high corporate debt ($9 trillion), high mortgage debt (over $15 trillion as of 2005 year-end), high unfunded Medicare liability ($30 trillion), high unfunded Social Security liability ($12 trillion), high external debt (amount owed to foreign lenders), high trade deficits, a serious deterioration in the United States net international investment position (NIIP) (-24% of GDP),[31] and high unemployment.[32] In 2006, the U.S economy had its lowest saving rate since 1933.[33] These issues have raised concerns among economists and national politicians.[34]

The United States economy experienced a crisis in 2008 led by a derivatives market and subprime mortgage crisis, and a declining dollar value.[35] On December 1, 2008, the NBER declared that the United States entered a recession in December 2007, citing employment and production figures as well as the third quarter decline in GDP.[36] The recession did, however, lead to a reduction in record trade deficits, which fell from $840 billion annually during the 2006-08 period, to $500 billion in 2009,[6][28] as well as to higher personal savings rates, which jumped from a historic low of 1% in early 2008, to nearly 5% in late 2009.[37]

In 1980, the U.S. public debt was $909 billion - or an amount equal to 33.3% of America's gross domestic product (GDP). By 1990, that number had more than tripled to $3.2 trillion - or 55.9% of GDP.[38] In 2001 the national debt was $5.7 trillion; however, the debt-to-GDP ratio remained at 1990 levels.[39] Debt levels rose quickly in the following decade, and on January 28, 2010, the US debt ceiling was raised to $14.3 trillion dollars.[40] Based on the 2010 U.S. budget, total national debt will grow to nearly 100% of GDP, versus a level of approximately 80% in early 2009.[41] The White House estimates that the government’s tab for servicing the debt will exceed $700 billion a year in 2019,[42] up from $202 billion in 2009.[43]

The U.S. Treasury statistics indicate that, at the end of 2006, non-US citizens and institutions held 44% of federal debt held by the public.[44] China, holding $801.5 billion in treasury bonds, is the largest foreign financier of the record U.S. public debt.[45]


US share of world GDP (%) since 1980.
US share of world GDP (nominal) peaked in 1985 with 32.74% of global GDP (nominal). The second highest share was 32.24% in 2001.
US share of world GDP (PPP) peaked in 1999 with 23.78% of global GDP (PPP). The share has been declining each year since .[edit] Overview

United States wealth compared to the rest of the world in the year 2000
Year-on-year change in total net worth of US households and nonprofit organizations 1946-2007, unadjusted for inflation or population change.
Map of countries by foreign currency reserves and gold minus external debt based on 2009 data from CIA FactbookA central feature of the U.S. economy is the economic freedom afforded to the private sector by allowing the private sector to make the majority of economic decisions in determining the direction and scale of what the U.S. economy produces.[46] This is enhanced by relatively low levels of regulation and government involvement,[47] as well as a court system that generally protects property rights and enforces contracts. Today, the United States is home to 29.6 million small businesses, 30% of the world's millionaires, 40% of the world's billionaires, as well as 139 of the world's 500 largest companies.[15][48][49][50] From its emergence as an independent nation, the United States has encouraged science and innovation. As a result, the United States has been the birthplace of 161 of Britannica's 321 Great Inventions, including items such as the airplane, internet, microchip, laser, cellphone, refrigerator, email, microwave, LCD and LED technology, air conditioning, assembly line, supermarket, bar code, electric motor, and ATM.[51]

The United States is rich in mineral resources and fertile farm soil, and it is fortunate to have a moderate climate. It also has extensive coastlines on both the Atlantic and Pacific Oceans, as well as on the Gulf of Mexico. Rivers flow from far within the continent, and the Great Lakes—five large, inland lakes along the U.S. border with Canada—provide additional shipping access. These extensive waterways have helped shape the country's economic growth over the years and helped bind America's 50 individual states together in a single economic unit.[52]

The number of workers and, more importantly, their productivity help determine the health of the U.S. economy. Throughout its history, the United States has experienced steady growth in the labor force, a phenomenon that is both cause and effect of almost constant economic expansion. Until shortly after World War I, most workers were immigrants from Europe, their immediate descendants, or African Americans who were mostly slaves taken from Africa, or slave descendants.[53] Beginning in the early 20th century, many Latin Americans immigrated; followed by large numbers of Asians following removal of nation-origin based immigration quotas.[54] The promise of high wages brings many highly skilled workers from around the world to the United States. Over 13 million people entered the United States during the 1990s alone.[55]

Labor mobility has also been important to the capacity of the American economy to adapt to changing conditions.[citation needed] When immigrants flooded labor markets on the East Coast, many workers moved inland, often to farmland waiting to be tilled. Similarly, economic opportunities in industrial, northern cities attracted black Americans from southern farms in the first half of the 20th century, in what was known as the Great Migration.

In the United States, the corporation has emerged as an association of owners, known as stockholders, who form a business enterprise governed by a complex set of rules and customs. Brought on by the process of mass production, corporations, such as General Electric, have been instrumental in shaping the United States. Through the stock market, American banks and investors have grown their economy by investing and withdrawing capital from profitable corporations. Today in the era of globalization, American investors and corporations have influence all over the world. The American government is also included among the major investors in the American economy. Government investments have been directed towards public works of scale (such as from the Hoover Dam), military-industrial contracts, and the financial industry.

While consumers and producers make most decisions that mold the economy, government has a powerful effect on the U.S. economy in at least four areas, as the government uses a capitalist system. Strong government regulation in the U.S. economy started in the early 1900s with the rise of the Progressive Movement; prior to this the government promoted economic growth through protective tariffs and subsidies to industry, built infrastructure, and established banking policies, including the gold standard, to encourage savings and investment in productive enterprises. On June 26, 2009, Jeff Immelt, the CEO of General Electric, called for the United States to increase its manufacturing base employment to 20% of the workforce, commenting that the U.S. has outsourced too much in some areas and can no longer rely on the financial sector and consumer spending to drive demand.[56]

[edit] Education
Main article: Education in the United States
There are 4,352 colleges, universities, and junior colleges in the United States.[57] In 2007, Americans stood second only to Canada in the percentage of 35 to 64 year olds holding at least two-year degrees. Among 25 to 34 year olds, the country stands tenth. The nation stands 15 out of 29 rated nations for college completion rates, slightly above Mexico and Turkey.[58] According to government data, one-tenth of students are enrolled in private schools. Approximately 85% of students enter the public schools.[59]

[edit] Immigration
Main article: Immigration to the United States
As of 2009, the United States received 4.31 immigrants per 1000 people, ranking 25th globally.[60] In fiscal year 2009, 1.1 million immigrants were granted legal residence.[61]

[edit] Employment
Further information: List of U.S. states by unemployment rate

Unemployment rate (1950 – 2005) as a percentage of the labor force in the United States according to the U.S. Bureau of Labor Statistics.There are approximately 154.4 million employed individuals in the US.[62] Small businesses are the largest employer in the country representing 53% of US workers.[63] The second largest share of employment belongs to large businesses, who employ a total of 38% of the US workforce.[63] A total of 91% of Americans are employed by the private sector. Government accounts for 8% of all US workers. There are also small amounts of Americans who work from home. Over 99% of all employing organizations in the US are small businesses.[63] The 30 million small businesses in the USA account for 64% of net new jobs (jobs created minus jobs lost).[63] 70% of jobs created in the last decade were by small business.[64] The proportion of Americans employed by small business versus large business has remained relatively the same year by year as some small businesses become large businesses and just over half of small businesses survive more than 5 years.[63] Amongst large businesses, several of the largest companies and employers in the world are American companies. Amongst them are Walmart, the largest company and the largest private sector employer in the world, which employs 2.1 million people world-wide and 1.4 million in the US alone.[65][66]

There are nearly 30 million small businesses in the USA. Approximately 6.5 million of businesses in the US are owned by women.[63] Together, these 6.5 million women-owned businesses generate over $940 billion in revenue of the country's $14.3 trillion economy and employ over 7 million working Americans.[63] Minorities in the US, such as Hispanics, African Americans, Asian Americans, and Native Americans (35% of the country's population),[67] own 4.1 million of the country's businesses. Minority-owned businesses generate almost $700 billion in revenue and employ almost 5 million workers in the US.[63]

The median household income in the US as of 2008 is $52,029.[68] 284,000 working people in the US have two full-time jobs and 7.6 million have a part-time job in addition to their full-time employment.[62] 12% of working individuals in the US belong to a labor union with the majority of labor union members being government workers.[62]

In May 2009, the unemployment rate was 9.4%.[69] A broader measure of unemployment (taking into account marginally attached workers, those employed part time for economic reasons, and discouraged workers) was 15.9%.[70] In 2009 and 2010, following the financial crisis of 2007–2010, the emerging problem of jobless recoveries resulted in record levels of long-term unemployment with over 6 million workers looking for work longer than 6 months as of January, 2010. This particularly affected older workers.[32] Since the recession's end in June 2009 in the United States, immigrants have gained 656,000 jobs, while U.S.-born workers lost more than a million jobs.[71]

In April 2010, the official unemployment rate was 9.9%, but the government’s broader U-6 unemployment rate was 17.1%.[72] In the period between February 2008 and February 2010, the number of people working part time for economic reasons has increased by 4 million to 8.8 million, that is a 83% increase in part time workers during the two year period.[73]

Female unemployment continued to be significantly lower than male unemployment (7.5% vs. 9.8%). The unemployment among African-Americans continues to be much higher than white unemployment (at 14.9% vs. 8.6%).[69] The youth unemployment rate was 18.5% in July 2009, the highest July rate since 1948.[74] 34.5% of young African American men were unemployed in October 2009.[75] Officially, Detroit’s unemployment rate is 27%, but Detroit News suggests that nearly half of this city’s working-age population may be unemployed.[76]

[edit] Income and wealth
Main articles: Income in the United States and Wealth in the United States
See also: Personal income in the United States, Household income in the United States, Income inequality in the United States, Poverty in the United States, Affluence in the United States, and Homeownership in the United States
According to the United States Census Bureau, the pretax median household income in 2007 was $50,233. The median ranged from $68,080 in Maryland to $36,338 in Mississippi.[77]

In 2007, the median real annual household income rose 1.3% to $50,233, according to the Census Bureau.[78] The real median earnings of men who worked full time, year-round climbed between 2006 and 2007, from $43,460 to $45,113. For women, the corresponding increase was from $33,437 to $35,102. The median income per household member (including all working and non-working members above the age of 14) was $26,036 in 2006.[79]

The recently released US Income Mobility Study showed economic growth resulted in rising incomes for most taxpayers over the period from 1996 to 2005. Median incomes of all taxpayers increased by 24 percent after adjusting for inflation. The real incomes of two-thirds of all taxpayers increased over this period. Income mobility of individuals was considerable in the U.S. economy during the 1996 through 2004 period with roughly half of taxpayers who began in the bottom quintile moving up to a higher income group within 10 years. In addition, the median incomes of those initially in the lower income groups increased more than the median incomes of those initially in the higher income groups.[80]

Between June 2007 and November 2008, Americans lost an estimated average of more than a quarter of their collective net worth.[81] Since peaking in the second quarter of 2007, household wealth is down $14 trillion.[82] The Fed also said that at the end of 2008, the debt owed by nonfinancial sectors was $33.5 trillion, including household debt valued at $13.8 trillion.[83]

[edit] Financial position

Components of total US debt as a fraction of GDP 1945-2009Main article: Financial position of the United States
The overall financial position of the United States as of 2009 includes $50.7 trillion of debt owed by US households, businesses, and governments, representing more than 3.5 times the annual gross domestic product of the United States.[20] As of the first quarter of 2010, domestic financial assetsA totaled $131 trillion and domestic financial liabilities $106 trillion.[21] Tangible assets in 2008 (such as real estate and equipment) for selected sectorsB totaled an additional $56.3 trillion.[84]

[edit] Sectors
Main article: Economy of the United States by sector

Sales and employees by sectors of the United States economy in 2002.[edit] Energy
Main article: Energy in the United States
The United States is the largest energy consumer in terms of total use, using 100 quadrillion BTUs (105 exajoules, or 29000 TWh) in 2005. The U.S. ranks seventh in energy consumption per-capita after Canada and a number of other countries.[85][86] The majority of this energy is derived from fossil fuels: in 2005, it was estimated that 40% of the nation's energy came from petroleum, 23% from coal, and 23% from natural gas. Nuclear power supplied 8.4% and renewable energy supplied 6.8%, which was mainly from hydroelectric dams although other renewables are included.[87]

American dependence on oil imports grew from 24% in 1970 to 65% by the end of 2005. At the current rate of unchecked import growth, the US would be 70% to 75% reliant on foreign oil by the middle of the next decade.[88] Transportation has the highest consumption rates, accounting for approximately 68.9% of the oil used in the United States in 2006,[89] and 55% of oil use worldwide as documented in the Hirsch report.

[edit] Agriculture
Main article: Agriculture in the United States
See also: Fishing industry in the United States, Beekeeping in the United States, and United States Department of Agriculture
Agriculture is a major industry in the United States and the country is a net exporter of food. With vast tracts of temperate arable land, technologically advanced agribusiness, and agricultural subsidies, the United States controls almost half of world grain exports.[90]

Products include wheat, corn, other grains, fruits, vegetables, cotton; beef, pork, poultry, dairy products; forest products; fish.

[edit] Manufacturing
Main article: Manufacturing in the United States
The United States is the world's largest manufacturer, with a 2007 industrial output of US$2.69 trillion. In 2008, its manufacturing output was greater than that of the manufacturing output of China, India, and Brazil combined, despite manufacturing being a very small portion of the entire US economy as compared to most other countries.[91]

A large portion of US industrial output, the US leads the world in airplane manufacturing.[92] American companies such as Boeing, Cessna (see: Textron), Lockheed Martin (see: Skunk Works), and General Dynamics produce a vast majority of the world's civilian and military aircraft in factories stretching across the United States.

Main industries include petroleum, steel, motor vehicles, aerospace, telecommunications, chemicals, electronics, food processing, consumer goods, lumber, and mining. A total of 3.2 million – one in six U.S. factory jobs – have disappeared since the start of 2000.[93]

The manufacturing sector of the U.S. economy has experienced substantial job losses over the past several years. In January 2004, the number of such jobs stood at 14.3 million, down by 3.0 million jobs, or 17.5 percent, since July 2000 and about 5.2 million since the historical peak in 1979. Employment in manufacturing was its lowest since July 1950.[94]

[edit] Finance
Main articles: Finance in the United States, Banking in the United States, and Insurance in the United States
The New York Stock Exchange is the largest stock exchange in the world by value of its listed companies' securities, measuring more than 3 times larger than any other stock exchange in the world.[95] As of October 2008, the combined capitalization of all domestic NYSE listed companies was US$10.1 trillion.[96] New York City is the financial capital of the United States, and also of the world alongside London.

NASDAQ is another American stock exchange. It is the world's 3rd largest stock exchange, only after the New York Stock Exchange and Japan's Tokyo Stock Exchange, though NASDAQ's trade value is much larger than that of Japan's.[95] It is the largest electronic screen-based equity securities trading market in the United States. With approximately 3,800 companies and corporations, it has more trading volume per hour than any other stock exchange in the world.[97]

[edit] International trade
Main articles: Foreign trade of the United States and Trade policy of the United States
The United States is the world's largest trading nation. Since it is the world's leading importer, there are many U.S. dollars in circulation all around the planet. The dollar is also used as the standard unit of currency in international markets for commodities such as gold and petroleum (the latter sometimes called petrocurrency is the source of the term petrodollar). Large foreign economies such as China, Japan, Arab League, and the EU own huge dollar reserves (especially as the US is more in debt) so there is a fear that they will move away from the dollar.[98] China's reserves are more than $2 trillion, the world's largest.[99] China owns an estimated $1.6 trillion of U.S. securities.[100]

In 2008, the total U.S. trade deficit was $695.9 billion,[101] which is $1.8 trillion in exports minus $2.5 trillion in imports.[102] The deficit on petroleum products was $386.3 billion.[103] The trade deficit with China was $266.3 billion, a new record and up from $304 million in 1983.[104] The United States had a $144.1 billion surplus on trade in services, and $821.2 billion deficit on trade in goods in 2008.[105]

To fund the national debt (also known as public debt), the United States relies on selling U.S. treasury bonds to people both inside and outside the country, and in recent times a growing percent of buyers are international.

[edit] Economic predictions and forecasting
Predictions about the direction of the United States economy in the short term and long term are crucial factors in determining federal government policies, business decisions, and Federal Reserve decisions. Several institutions make economic predictions, including: Global Insight, and the UCLA Anderson Forecast. Various state agencies, including the California Department of Finance, also make predictions.[citation needed]

[edit] Currency and central bank
Main articles: United States dollar and Federal Reserve System

United States historical inflation rate 1666–2004The United States dollar is the unit of currency of the United States. The U.S. dollar is the currency most used in international transactions.[106] Several countries use it as their official currency, and in many others it is the de facto currency.[107]

The federal government attempts to use both monetary policy (control of the money supply through mechanisms such as changes in interest rates) and fiscal policy (taxes and spending) to maintain low inflation, high economic growth, and low unemployment. A relatively private central bank, known as the Federal Reserve, was formed in 1913 to provide a stable currency and monetary policy. Despite significant loss of value due to inflation [8], the U.S. dollar has been regarded as one of the more stable currencies in the world and many nations back their own currency with U.S. dollar reserves.

The U.S. dollar has maintained its position as the world's primary reserve currency, although it is gradually being challenged in that role.[108] Almost two-thirds of currency reserves held around the world are held in US dollars, compared to around 25% for the next most popular currency, the Euro.[109] Rising US national debt [9] and the related rise of China have led to some, especially the Chinese, to call for replacing the dollar as the world's reserved currency, but thus far this has been only speculation.[110]

The dollar used gold standard and/or silver standard from 1785 until 1975, when it became a fiat currency. As gold tends to retain its value over long historical time periods, gold-backed currencies are generally much more stable over time than fiat currencies, and this is reflected in the decline of the value of the US dollar as the currency has become unbacked by Gold.

[edit] Government involvement
[edit] Regulations
The U.S. federal government regulates private enterprise in numerous ways. Regulation falls into two general categories.

Some efforts seek, either directly or indirectly, to control prices. Traditionally, the government has sought to prevent monopolies such as electric utilities from raising prices beyond the level that would ensure them extremely large profits. At times, the government has extended economic control to other kinds of industries as well. In the years following the Great Depression, it devised a complex system to stabilize prices for agricultural goods, which tend to fluctuate wildly in response to rapidly changing supply and demand. A number of other industries—trucking and, later, airlines—successfully sought regulation themselves to limit what they considered as harmful price cutting, a process called regulatory capture.[111]

Another form of economic regulation, antitrust law, seeks to strengthen market forces so that direct regulation is unnecessary. The government—and, sometimes, private parties—have used antitrust law to prohibit practices or mergers that would unduly limit competition.[111]

Bank regulation in the United States is highly fragmented compared to other G10 countries where most countries have only one bank regulator. In the U.S., banking is regulated at both the federal and state level. The U.S also has one of the most highly regulated banking environments in the world; however, many of the regulations are not safety and soundness related, but are instead focused on privacy, disclosure, fraud prevention, anti-money laundering, anti-terrorism, anti-usury lending, and promoting lending to lower-income segments.[citation needed]

Since the 1970s, government has also exercised control over private companies to achieve social goals, such as improving the public's health and safety or maintaining a healthy environment. For example, the Occupational Safety and Health Administration provides and enforces standards for workplace safety, and the United States Environmental Protection Agency provides standards and regulations to maintain air, water, and land resources. The U.S. Food and Drug Administration regulates what drugs may reach the market, and also provides standards of disclosure for food products.[111]

American attitudes about regulation changed substantially during the final three decades of the 20th century. Beginning in the 1970s, policy makers grew increasingly convinced that economic regulation protected companies at the expense of consumers in industries such as airlines and trucking. At the same time, technological changes spawned new competitors in some industries, such as telecommunications, that once were considered natural monopolies. Both developments led to a succession of laws easing regulation.[111]

While leaders of America's two most influential political parties generally favored economic deregulation during the 1970s, 1980s, and 1990s, there was less agreement concerning regulations designed to achieve social goals. Social regulation had assumed growing importance in the years following the Depression and World War II, and again in the 1960s and 1970s. During the 1980s, the government relaxed labor, consumer and environmental rules based on the idea that such regulation interfered with free enterprise, increased the costs of doing business, and thus contributed to inflation. The response to such changes is mixed; many Americans continued to voice concerns about specific events or trends, prompting the government to issue new regulations in some areas, including environmental protection.[111]

Where legislative channels have been unresponsive, some citizens have turned to the courts to address social issues more quickly. For instance, in the 1990s, individuals, and eventually the government itself, sued tobacco companies over the health risks of cigarette smoking. The 1998 Tobacco Master Settlement Agreement provided states with long-term payments to cover medical costs to treat smoking-related illnesses.[111]

[edit] Taxation
Main article: Taxation in the United States
Taxation in the United States is a complex system which may involve payment to at least four different levels of government and many methods of taxation. Taxes are levied by the federal government, by the state governments, and often by local governments, which may include counties, municipalities, township, school districts, and other special-purpose districts, which include fire, utility, and transit districts.

The National Bureau of Economic Research has concluded that the combined federal, state, and local government average marginal tax rate for most workers to be about 40% of income.[112][113] The Tax Foundation concluded that government at all levels will collect 30.8% of the nation's income for 2008.[114] Tax Day, the day by which tax returns are due, is usually April 15.

[edit] Expenditure
Main articles: United States federal budget and United States public debt

Fiscal Year 2009 U.S. Federal Spending - Cash or Budget Basis.
Fiscal Year 2009 U.S. Federal Receipts.The United States public sector spending amounts to about a third of the GDP.

Each level of government provides many direct services. The federal government, for example, is responsible for national defense, backs research that often leads to the development of new products, conducts space exploration, and runs numerous programs designed to help workers develop workplace skills and find jobs (including higher education). Government spending has a significant effect on local and regional economies—and even on the overall pace of economic activity.[citation needed]

State governments, meanwhile, are responsible for the construction and maintenance of most highways. State, county, or city governments play the leading role in financing and operating public schools. Local governments are primarily responsible for police and fire protection.[citation needed]

Overall, federal, state, and local spending accounted for almost 28% of gross domestic product in 1998.[115]

As of January 20, 2009, the total U.S. federal debt was $10.627 trillion (an increase of 85.5 percent over the previous eight years).[116] The borrowing cap debt ceiling as of 2005 stood at $8.18 trillion.[117] In March 2006, Congress raised that ceiling an additional $0.79 trillion to $8.97 trillion, which is approximately 68% of GDP.[118] Congress has used this method to deal with an encroaching debt ceiling in previous years, as the federal borrowing limit was raised in 2002 and 2003.[119] As of October 4, 2008, the "Emergency Economic Stabilization Act of 2008" raised the current debt ceiling to US$ 11.3 trillion.[120]

The federal government's debt rose by almost $1.4 trillion in 2009, and now stands at $12.1 trillion.[121] While the U.S. public debt is the world's largest in absolute size, another measure is its size relative to the nation's GDP. As of 2009 the debt was 83 percent of GDP. This debt, as a percent of GDP, is still less than the debt of Japan (192%) (the overwhelming number of owners of JGBs are Japanese)[122] and roughly equivalent to those of a few western European nations, including Greece.[123]

[edit] See also
Affluence in the United States
Energy policy of the United States
Economic history of the United States
Economy of Puerto Rico
Historical Statistics of the United States
Household income in the United States
Income inequality in the United States
Income in the United States
Labor unions in the United States
National debt by U.S. presidential terms - includes federal spending and GDP
Personal income in the United States
United States federal budget
Wealth in the United States
Events:

Late-2000s recession
Proposed bailout of U.S. financial system (2008)
Subprime mortgage crisis
Oil price increases since 2003
Lists:

List of industry trade groups in the United States
List of United States companies
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[edit] External links
CIA - The World Factbook - United States
Outline of the U.S. Economy[dead link]
Bureau of Economic Analysis: Selected NIPA tables (Lots of U.S. economic data)
U.S. Economic Calendar
U.S. Census Bureau
U.S. Dept of Labor - Bureau of Labor Statistics
U.S. Dept of Commerce - Bureau of Economic Analysis
FRB: Z.1 Release-- Flow of Funds Accounts of the United States, Release Dates
OECD's United States country Web site and OECD Economic Survey of the United States
U.S. Energy Information Administration
National Bureau of Economic Research (USA) Economics material from the organization that declares Recessions and Recoveries.
Bureau of Labor Statistics–from the American Labor Department
US Department of Commerce Economics Statistics
The Heritage Foundation: Understanding Poverty in America
GDP growth viz Savings rate since 1985 Comparing GDP growth rate with the Savings rate since 1985
Gross Domestic Product Growth - USA
Unemployment Rate - USA
Consumer Price Index - USA
A U.S.-Colombia Free Trade Agreement: Strengthening Democracy and Progress in Latin America
"Why There Won’t Be a Revolution" by Jerry Adler, Newsweek, February 16, 2009
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[show]v • d • eNorth American Free Trade Agreement (NAFTA)

Canada • Mexico • United States

[show]v • d • eAsia-Pacific Economic Cooperation (APEC)

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[show]v • d • eEconomy of North America

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1 Territories also in or commonly considered to be part of South America.



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