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Donald Trump - the United States’ Current President

Essay by   •  November 7, 2017  •  Essay  •  556 Words (3 Pages)  •  585 Views

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Donald Trump, the United States’ current president, claims that one of his major jobs at White House is to increase the growth rate. Consequently, he claims that he could guarantee more citizens of the United Sates get well-paid jobs through spurring the economy growth. Therefore, how to stimulate growth rate and decrease the unemployment rate are two of the most significant economic issues confronting the new Trump Administration. In this essay, the causes of economic growth will be first analyzed. Subsequently, the relationship between the economic growth and unemployment would be discussed. Whether the economic growth could ensure more people get more well-paid jobs would be analyzed.

Raising growth rate means an increase in the rate of GDP growth. In other word, Trump Administration is facing to spur the national output and national income to a faster rate. The growth rate could be stimulated by a number of factors and occurrences such as increasing the natural resources, bringing more investments in physical capital, improving technology, sustaining a stable political environment and so on.

In economics, one of most common ways to boom economy is to increase aggregate demand. Correspondingly, increased demand brings the increase of output and therefore the national income will raise up as well. As well, the increase of aggregate demand could be traced from a variety of origins: it could increase due to the worldwide economic growth, progress in technology and etc. Economically, aggregate demand increase mainly comes from the consumer spending increases, investment increases, government spending increases, exports increases and imports decreases. To increase aggregate demand for the ultimate increase in economy growth, China has chosen to increase consumer consumption. As for America, the president Mr. Trump believed that having fairer trade deals is the most important path to faster growth (Economics) as well as cutting tax. Therefore, firms are encouraged to do domestic investment instead of investing abroad. Also, he claims that to “make America great again”, it is important to have products made in U.S.A. These makes sense according to the principles of economics since the national demand is negatively corresponsive to the imports and positively corresponsive to the gross fixed capital investment and exports.

However, will the economic growth indeed bring more well-paid jobs. The answer is “it depends”. Admittedly, economy growth could mean more domestic investments are contributing to the national output and therefore these investments would bring more available positions to the citizens. Nevertheless, it is also worth noting that technology progress could expand output as well. According to the PwC’s report, there will be over 38% of jobs in the United States being taken place of by robots. It might sound shocking but it is true. For example, more and more E-commerce are employing robots to do logistics related jobs; Facebook is trying to fly drone; Google's is developing self-driving vehicles. As a result, whether the economy growth would contribute to employment is uncertain because the technology is advancing at a faster rate.

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