Growth mechanism and profitability of the U.S. economy

The author analyzes the growth mechanism and profitability of the economy of the United States which being the main country of modern capitalism and the most powerful imperialist power after World War II had a determining influence on the main trends in the development of the world capitalist system in the period under consideration 1950-2020. A general model based on the Caldorian approach to technological progress was used to study economic growth. It takes into account both physical and human capital as well as time as an event space of creative economic activity. On its basis it is possible to compare the total factor efficiency with the world level. Gross profit formation in the most important industries is analyzed as well as GDP growth with a human-centered approach taking into account such factors as fixed capital personal consumption R&D number of employed persons and working time.