Infrastructure in a Country’s Economy essay
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The subject matter of infrastructure’s relation to the economy is quite challenging. Critics argue that facts about the role of infrastructure in a country’s economy are inevitable. Noteworthy, the US has enjoyed a principal contribution to the world‘s economy due to its recommendable infrastructure. Its continuous pace on the growth of infrastructure from rails of the previous century to airports and optic networks of the current century contributed immensely to its economic status.
Currently, engineers and economists point out that the aging infrastructure in the US is playing a vital role in setting back the economy of the country. In their argument, engineers claim that the status of highways, waterworks, and bridges is below average. The estimated cost of maintaining and repairing the damaged infrastructure makes an annual sum of 120 US dollars thus pulling down the economy. In addition to the time wasted on traffic jams, economists and engineers estimate that these costs are equivalent to a percentage point on the economy of the country. The engineers claim that the country is not only keeping a slow pace on the growth of infrastructure, but also the maintenance required. These increases further the cost incurred. The cause of this slow pace is partly a political issue and a national citizen issue. Politicians find it to be harder to sell their bids with infrastructure than issues such as health care. Their target is also the next few years of their reign and not the next generation thus they see no need of investing in infrastructure. Citizens also have a local perspective of infrastructure. This makes them not to push for the nationwide growth of infrastructure. The engineers also claim that infrastructure creates a large number of jobs thus boosting the economy.
These facts and ideas laid across by engineers and economists make me realize the large effects that infrastructure has on the economy of a country. The aging infrastructure of the US is one on the major setbacks in its economy. Continuous growth of infrastructure is directly proportional to a continual growth of the economy. Failure to accommodate this issue in the country’s budget causes enlargement and postponement of a problem.
This knowledge shapes the future of politicians and political analysts. It makes these stakeholders realize the strengths of using infrastructure as a political bid of reviving a country’s economy.