Today, the United States of America is a world power: a country that holds significant influence over a large part of the planet. This influence comes in many forms; the United States holds economic, political, military, and cultural influence across the planet. Because of this influence, many have called the United States a superpower, a country with a dominant position over most other countries.
The United States is a world power and a superpower for many reasons. For one, the United States has the best-equipped and best-funded military on Earth. Unlike other countries, the U.S. can project its military power across the world through its large air force and navy. The U.S. spends more money on this than a few countries with the next best militaries combined, and the U.S. operates nearly half of the world’s aircraft carriers. Economically, the United States has the greatest GDP (gross domestic product), and the U.S. dollar is the world’s reserve currency. American culture is consumed worldwide, and English today is the world’s lingua franca, largely due to American influence.
America’s gross domestic product accounts for close to a quarter of the world total, and its military budget is reckoned to be almost as much as the rest of the world’s defence spending put together.
The country is also a major source of entertainment: American TV, Hollywood films, jazz, blues, rock and rap music are primary ingredients in global popular culture. The United States originated in a revolution that separated it from the British Crown. The constitution, drafted in 1787, established a federal system with a division of powers that has remained little changed since its inception.
Military Strength
The U.S. Armed Forces are considered the world’s most powerful military. The military expenditure of the United States was US$877 billion in 2022, the highest in the world, accounting for 39 percent of the world’s defense expenditures. The U.S. Armed Forces has significant capabilities in both defense and power projection due to its large budget, resulting in advanced and powerful technologies which enables a widespread deployment of the force around the world, including around 800 military bases outside the United States. The U.S. Air Force is the world’s largest air force, while the U.S. Army Aviation Branch is the second largest. The U.S. Naval Air Forces is the fourth largest air arm in the world and is the largest naval aviation service, while U.S. Marine Corps Aviation is the world’s seventh largest air arm. The U.S. Navy is the world’s largest navy by tonnage. The U.S. Coast Guard is the world’s 12th largest maritime force. The U.S. Space Force is the world’s only active independent space force.
The United States Armed Forces are the military forces of the United States. The armed forces consists of six service branches: the Army, Marine Corps, Navy, Air Force, Space Force, and Coast Guard. All six armed services are among the eight uniformed services of the United States.
Each of the different military services is assigned a role and domain. The U.S. Army conducts land operations, while the U.S. Navy and U.S. Marine Corps conduct maritime operations, with the Marine Corps specializing in amphibious and maritime littoral operations in support of the Navy. The U.S. Air Force conducts air operations, while the U.S. Space Force conducts space operations. The U.S. Coast Guard is unique in that it is a military branch specializing in maritime operations and also a law enforcement agency.
From their inception during the American Revolutionary War, the U.S. Armed Forces have played a decisive role in the history of the United States. They helped forge a sense of national unity and identity through victories in the First Barbary War and the Second Barbary War. They played a critical role in the territorial evolution of the United States, including the American Civil War. The National Security Act of 1947, adopted following World War II, created the modern U.S. military framework. The Act established the National Military Establishment, headed by the secretary of defense; and created the United States Air Force and the National Security Council. It was amended in 1949, renaming the National Military Establishment the Department of Defense, and merged the cabinet-level Department of the Army, Department of the Navy, and Department of the Air Force, into the Department of Defense.
The president of the United States is the commander-in-chief of the armed forces and forms military policy with the Department of Defense (DoD) and Department of Homeland Security (DHS), both federal executive departments, acting as the principal organs by which military policy is carried out.
The U.S. Armed Forces are one of the largest military forces in terms of personnel. They draw their personnel from a large pool of professional volunteers. Although military conscription has been used in the past, it has not been used in the U.S. since 1973. The Selective Service System retains the power to conscript males, and requires that all male citizens and residents residing in the U.S. between the ages of 18 and 25 register with the service.
Economy of the United States
The United States is a highly developed mixed economy. It is the world’s largest economy by nominal GDP, and the second-largest by purchasing power parity (PPP) behind China. It has the world’s seventh-highest per capita GDP (nominal) and the eighth-highest per capita GDP (PPP) as of 2022.
The U.S. accounted for 25.4% of the global economy in 2022 in nominal terms, and around 15.6% in PPP terms. The U.S. dollar is the currency of record most used in international transactions and is the world’s reserve currency, backed by a large U.S. treasuries market, its role as the reference standard for the petrodollar system, and its linked eurodollar. Several countries use it as their official currency and in others it is the de facto currency.
The American economy is fueled by high productivity, transportation infrastructure, and extensive natural resources. Americans have the highest average household and employee income among OECD member states. In 2021, they had the highest median household income. The U.S. has one of the world’s highest income inequalities among the developed countries. The largest U.S. trading partners are Canada, Mexico, China, Japan, Germany, South Korea, the United Kingdom, Taiwan, India, and Vietnam. The U.S. is the world’s largest importer and second-largest exporter. It has free trade agreements with several countries, including Canada and Mexico (through the USMCA), Australia, South Korea, Israel, and several others that are in effect or under negotiation.
By 1890, the United States had overtaken the British Empire as the world’s most productive economy. It is the world’s largest producer of petroleum and natural gas. In 2016, it was the world’s largest trading country as well as its third-largest manufacturer, representing a fifth of the global manufacturing output. The U.S. not only has the largest internal market for goods, but also dominates the services trade. U.S. total trade amounted to $4.2 trillion in 2018. Of the world’s 500 largest companies, 121 are headquartered in the U.S.
The U.S. has the world’s highest number of billionaires, with a total wealth of $3.0 trillion. US commercial banks had $22.9 trillion in assets as of December 2022. U.S. global assets under management had more than $30 trillion in assets. During the Great Recession of 2008, the U.S. economy suffered a significant decline. The American Reinvestment and Recovery Act was passed by the US administration, and in the years that followed, the U.S. experienced the longest economic expansion on record by July 2019.
The New York Stock Exchange and Nasdaq are the world’s largest stock exchanges by market capitalization and trade volume. In 2014, the U.S. economy is ranked first in international ranking on venture capital and global research and development funding. Consumer spending comprised 68% of the U.S. economy in 2022, while its labor share of income was 44% in 2021. The U.S. has the world’s largest consumer market. The nation’s labor market has attracted immigrants from all over the world and its net migration rate is among the highest in the world. The U.S. is one of the top-performing economies in studies such as the Ease of Doing Business Index, the Global Competitiveness Report, and others.