What I like about the American psyche is their ability to engage in business enterprise with their entrepreneurial spirit. The United States now has a service based economy; you exclaim, that's not exactly true, unfortunately the majority of their manufacturing base has been transferred overseas.
Design is still undertaken onshore, technology and innovation still rank highly. Manufacturing in the US is pretty much redundant these days, but not entirely; so much technology and capability has been exported overseas increasing the decline.
Americans are traditionally very strong at marketing and sales, this once again harps back to retail and services, the United States is very much a consumer driven economy. Financial services has been the growth industry, this has however been their undoing in many respects, this was the downfall.
The purpose of finance is to raise capital to fund business activities, by sending manufacturing and the respective technology offshore, economic capability is inadvertently lost. Are we witnessing the decline of the United States as a manufacturing and economic powerhouse?
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