Question

Economy in U.S--

What might happen in the economy in 50 years? How will goods and services be available in 50 years? What will the monetary system be like in 50 years?

Answer 1

Many of the economists are predicting that the economy will be thriving. Income and consumption will double every four years. In the modern era, technological advancement will take the economy into new heights. But this will not give positive results for the economy. The wage rate will rise, and the work will do by the machines and unemployment will sharply increase.

For the next fifty years, natural resources will decline, and resources will get scarcely. Currently, human uses 30 per cent of more resources than usual. It will create a resource crunch in the economy. The goods and services produced by the machines, and human being will become the consumers in the future.

The US monetary system may fail because of many of the dollar oriented money instruments will transferred to other currency most probably Yuan.