> This page is for History, version v1 (default).
> For other versions, use one of these documentation indexes:
> - v1 (default): https://sahil.ferndocs.com/history/v-1/llms.txt

> For clean Markdown of any page, append .md to the page URL.
> For a complete documentation index, see https://sahil.ferndocs.com/llms.txt.
> For AI client integration (Claude Code, Cursor, etc.), connect to the MCP server at https://sahil.ferndocs.com/_mcp/server.

# Economy

## Economy

The United States has a highly developed diversified mixed economy. It is the world's largest economy by
nominal GDP and second largest by purchasing power parity (PPP). As of 2025, it has the world's seventh
highest nominal GDP per capita and ninth highest GDP per capita by PPP. According to the World Bank, the U.S.
accounted for 14.8% of the global aggregate GDP in 2024 in purchasing power parity terms and 26.2% in
nominal terms. The U.S. dollar is the currency of record most used in international transactions and is
the world's foremost 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. Since the end of World War II, the economy has achieved
relatively steady growth, low unemployment and inflation, and rapid advances in technology.