Evolution of the U.S. Economic Development Policy

Introduction. This article examines the strategies implemented by the U.S. government to overcome various economic crises and promote sustainable growth. Beginning with the Great Depression of 1929, the administration of Franklin D. Roosevelt introduced the ‘New Deal’, a series of economic and social reforms aimed at economic recovery, financial stabilization, and the creation of a welfare state. In the first decades, the Keynesian approach prevailed, with the government playing an active role in regulating the economy and providing social protection.

The purpose of the work is to provide a retrospective analysis of the external and internal factors of the national economy development and to determine their role in the transformation of the U.S. economic policy at various stages of the socio-economic process.

Methods and materials. The methods used in this study are the descriptive and comparative historical ones. The data were collected from primary sources, research articles and websites with relevant historical data, documents published by the United States International Trade Commission and official historical documents.

Interpretation of research results. The paper examines the evolution of the economic development policy in the United States of America from 1930 to 2000. Significant transformations that have shaped the economic landscape of the country are noted. The implementation of the Keynesian reforms aimed at economic recovery, financial stabilization and social welfare is shown. The challenges of the 1960s and 1970s are also examined, including the growing U.S. competition with Europe and Japan, which led to new economic strategies and protective measures such as voluntary export restraints (VERs). The authors trace the trajectory of the U.S. economic policy, emphasizing the transition from government intervention to economic liberalization and globalization. The results provide a comprehensive understanding of the internal and external forces that influenced the U.S. economic development during this crucial period.

Conclusion. During the 1930s – 2000s, the United States faced new economic challenges, including increased competition with Europe and Japan. In response, the country adopted economic liberalization strategies and developed protective mechanisms such as voluntary export restraints. Geopolitical and economic changes reflect the United States' ability to adapt to an increasingly integrated and competitive global market. Overall, the study shows how the interaction of the domestic economic policy and external factors has shaped U.S. economic development and provides valuable lessons for future strategies of economic development.