Trilogy desire

The aim of my course paper. American capitalism has thrived by inspiring entrepreneurs and investors to innovate and take bold risks. It has nurtured competitive markets from which the most market-appropriate innovations emerged and succeeded, and it created investment and capital formation mechanisms for underwriting, commercialization and Expanding on the best ideas and driving the growth of the most successful companies.

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  to study Characters of American capitalism
  
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  to investigate Theodore Herman Albert Dreiser as an American novelist and journalist
  
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  to analyze Works and novels of the Theodore Dreiser
  
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  to consider Analysis of his best novel, “The Titan”
  

The subject of my course paper. In addition to funding innovation in the private sector, major capital markets are also effective partners with governments in times of crisis and corporate hardship, as has been evident during the COVID-19 pandemic. By downsizing or eliminating failed ideas and businesses, American capitalism has also triggered a process of creative destruction and commercial dynamics unmatched in other major economies, including capitalist economies.
The course paper includes introduction, main part, conclusion and list of references.
The main part includes Dreiser's appearance and personality were described by Edgar Lee Masters in a poem, Theodore Dreiser: A Portrait, published in The New York Review of Books.
While working as a reporter in St. Louis, Dreiser met teacher Sara Osborne White. They became engaged in 1893 and married on December 28, 1898. They separated in 1909, partly because Dreiser was infatuated with Thelma Cudlipp, the teenage daughter of a colleague, but never officially. divorce.


MAIN PART

1. 
   Characters of American capitalism
   

The advantages of the American model not only benefit the American economy and people, but spread worldwide, through competition, trade, investment, and the diffusion of initiatives that have globally involved in areas such as technology, health and financial and capital markets, as well as in business and management model innovation. Rapid economic growth in emerging economies over the past 30 years has lifted one billion people out of poverty. This prosperous growth is largely due to the impact of trade and participation in the global economy, in which the American model and its related institutions and ecosystems play a central role.

For American model participants, the results of the past 20 years have been positive for innovators, entrepreneurs and investors; the most innovative, fast-growing and often largest companies; skilled and well-paid workers; and the vibrant cities and centers where much of this activity takes place. The return on investment, wealth accumulation and income growth, as well as the general standard of living of these people continue to increase and even accelerate. However, for the rest of society — about the bottom three income groups, which include about 150 million adults in the United States — the results over the past 20 years have varied widely, as we describe in Fig. sequel, and the effects of the COVID-19 pandemic have exacerbated these results for many people.¹ While inequality between countries has decreased, inequality within countries has increased, especially in the United States. Economic mobility has slowed, and the middle class once celebrated as essential to the U.S. economy has been squeezed in particular, shrinking over the past half-century from 61% of U.S. households to... 52%. One of the main sources of this inequality is the fundamental shift in the US economy from a production-oriented to a service and consumption-oriented economy that has reduced disposable income. workers, and irreversible change is unlikely to be reversed. The resulting inequality for individuals and households over the past 20 years becomes more apparent when viewed through the lens of individuals as workers, consumers and savers, such as We highlighted in our research earlier this year the evolution of the social contract. For workers, median wages in the United States increased by just 0.9 percent per year from 2000 to 2019. The polarization of the labor market toward high- and low-wage jobs has eliminated one million jobs in America with average wages. Average wages for middle-wage jobs increased by just 1.1% during the period, while average wages for high- and low-skill workers grew faster, by 7, respectively. 3% and 5.3%. The share of workers in national income continues to decline and wages lag behind productivity growth. And despite the overall job growth and expansion of income opportunities before the pandemic, most of the jobs created were in low-wage occupations, often in the service sector. In addition, most of the increase in employment is due to alternative work arrangements and part-time work, which increases job and income insecurity.
Consumers have benefited from improved accessibility and lower prices for discretionary goods, especially commercial goods such as electronics, home appliances and furniture. However, rising prices for basic goods such as housing, health care and education - which make up the bulk of consumption by low-income households - have outstripped inflation, eating up all 54% of income over the past 20 years for the average. . American households. Household savings rates have fallen at a time when individuals need to save for a longer retirement and take more responsibility for saving. Nearly half of people over the age of 15 in the United States did not save for old age last year. Many of these outcomes are felt by specific groups of people. Young people have a harder time finding full-time work, spend more of their income on basic goods and services, and save less than other groups. While access to jobs has improved significantly, women are still paid just 82 cents for every dollar earned by men. And the racial gap between rich and poor is particularly stark in the United States. In 2016, the average white family's wealth was ten times that of the average black family and 7.5 times that of the average Hispanic family. Such differences persist, even among those with university degrees. ²
Geography matters too: More than two-thirds of US job growth since 2007 has been concentrated in 25 vibrant cities and centers, while rural and low-growth counties are home to 77 million people. There has been steady or declining employment growth, even during the recovery period following the last financial crisis. The study highlighted large geographical differences in intergenerational mobility.
The efficiency of capitalism in directing capital formation for the most promising investments has implications for market structure and the concentration of economic power. Profits over the past 20 years have been concentrated in a small group of sectors, including finance, real estate, technology, pharmaceuticals and some business services. This concentration has resulted in a strong wealth effect, through higher returns for holders of physical and intangible assets and capital. According to our research, the “superstar” industries of the past 20 years have been less capital and labor intensive than in previous decades, and more geographically concentrated, which further fuels discontent. equality of income and labor and wealth. In the United States, only 6% of counties account for two-thirds of GDP. The concentration of talent, intellectual property and other intangible assets underpins these geographically concentrated interests in superstar cities, from New York to Los Angeles to Atlanta, which have GDP per capita per capita is 40% higher than in comparison cities, but inequality is also significantly higher.
The superstar effect has become more apparent with the growth of superstar companies. Globally, among companies with revenue over $1 billion, the richest 10% account for 80% of total economic profits. Many superstar companies are characterized by large investments in intangible assets, a highly skilled workforce, and business models backed by digital capabilities, and often with high sales rates. international goods is higher. They regularly access inputs globally and provide relevant products and services to multiple markets. Obviously, it's hard to be a superstar: nearly half of them fall off the superstar rankings after each business cycle, and of those, 40% fall into the bottom quintile. It's also important to note that the bottom 10% destroy nearly as much of the economic value that the richest 10% create and don't reinvent themselves as often as those at the top, which some people have. would be said to happen in a well-functioning capitalist model.
The COVID-19 pandemic has further amplified these superstar effects. The most successful companies are better positioned to weather the economic crisis, with better access to liquidity and more diversified markets. In addition, many superstar companies have stronger digital capabilities that have helped them thrive during the pandemic. Some are leading the way in innovation and services such as healthcare and life sciences that are essential as economies weather the COVID-19 pandemic. It's no surprise that a basket of large, profitable companies has outperformed the market over the past ten months while the rest of the economy has struggled.

Investments in public goods, from education, training, and human resource development skills to basic R&D and infrastructure, have fallen far short of what is needed to help individuals have equal opportunities. equality and full participation in the economy and what is needed for productivity, growth and competitiveness. Federal spending on education, infrastructure, and scientific research has fallen from about 2.5% of GDP in 1980 to less than 1.5% of GDP today. At a time when technology and other forces are driving a growing need for workforce retraining, the share of workers receiving employer-sponsored training has declined, while funding The cost of training workers and other labor market interventions has also decreased. Private sector investment in public infrastructure, even in the form of public-private partnerships, has also declined over the past 35 years and has fallen even faster after the 2008 recession. , including infrastructure, health and workforce skills, is an important contributor to an economy's competitiveness and productivity. The COVID-19 pandemic has in many ways exposed existing gaps in the nation's public goods due to a decline in public and private investment, the health system and the job safety net in the country, access to critical digital infrastructure and investments in basic scientific research. Many of these gaps in public goods have different effects on demographic and local groups in the U.S. economy, and are often a function of economic dynamism and activity elsewhere. together. ³

Furthermore, changes in individual outcomes have been driven in part by the increasingly limited role of institutions, both public and private, to protect individuals to a lesser extent from the effects of other forces. impact in the economy. For example, job protections are now weaker, most health and education costs go to the private sector, and guaranteed pensions have fallen. This model of augmenting the “personalization” of the social contract prevails in most of the advanced economies we surveyed, despite varying market systems and levels of public spending.

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