Analysis of the Impact of US Government Behavior on the Economy During the COVID-19 Epidemic

Nowadays, the influence that caused by the government in the aspect of national economy becomes bigger, especially in the special time period such as epidemic. In this study, I analyzed the several aspects of how does the American government affect the national economy by the method of policy in the COVID-19 period. Since the American government prompted the development of American industry system in 18th century, the government power and effect on the development direction of economy became even larger. In 21st century, American government still controls the economy but much weaker because of the Small Government strategy, but in the period of epidemic, the Biden governments Bidenomic chose to back to the Big government strategy. Such as controlling the export and import, providing more policy that can restrict the action of business, producing the recuse plan act to help extreme poor people in epidemic. This essay will also illustrate the specific influence of government of the economy in epidemic time, for example, the GDP growth, the investment and consuming, the export and import, and some bad result like inflation.

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Publication Details

Journal
Advances in Economics Management and Political Sciences
Published
2024-12-26
DOI
https://doi.org/10.54254/2754-1169/2024.ld18574
Primary Topic
COVID-19 Pandemic Impacts
Type
article
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article

Analysis of the Impact of US Government Behavior on the Economy During the COVID-19 Epidemic

Zhenkun Yu
Advances in Economics Management and Political Sciences
COVID-19 Pandemic Impacts
article

Analysis of the Impact of US Government Behavior on the Economy During the COVID-19 Epidemic

Zhenkun Yu
article en

Abstract

Nowadays, the influence that caused by the government in the aspect of national economy becomes bigger, especially in the special time period such as epidemic. In this study, I analyzed the several aspects of how does the American government affect the national economy by the method of policy in the COVID-19 period. Since the American government prompted the development of American industry system in 18th century, the government power and effect on the development direction of economy became even larger. In 21st century, American government still controls the economy but much weaker because of the Small Government strategy, but in the period of epidemic, the Biden governments Bidenomic chose to back to the Big government strategy. Such as controlling the export and import, providing more policy that can restrict the action of business, producing the recuse plan act to help extreme poor people in epidemic. This essay will also illustrate the specific influence of government of the economy in epidemic time, for example, the GDP growth, the investment and consuming, the export and import, and some bad result like inflation.

Advances in Economics Management and Political SciencesVol. 142(1)
Openalex Percentile: Top 70%
COVID-19 Pandemic Impacts
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