CENTERFORSECURITYPOLICY (Andrei Illarionov) - The American economic miracle
The American economic miracle stands out as one of the most remarkable accomplishments in the...
The American economic miracle stands out as one of the most remarkable accomplishments in the United States’ 250-year history. The idea of an “Economic Miracle” and the standards used to define it. The term “economic miracle”—which entered global academic and public discourse after World War II—traditionally refers to a country’s economic success in achieving and sustaining high rates of economic growth over a significant period. The most well-known examples of economic miracles are the cases demonstrated in the post-war decades by Germany, Italy, Japan, South Korea, Taiwan, Hong Kong, Singapore, China, and Ireland. The primary criteria for identifying an economic miracle are: - high rates of national economic growth…Open