It appears that you may be an excellent economist Mr. haque, but you really do not understand the history, particularly the economic history of your own country. This national was, from its inception, based on the exploitation of humans, not their economic development. It was the Germans, under Otto von Bismarck that grasped the fact that it is human potential that moves a nation forward economically, an idea that has never found general acceptance in America.
Consider that the founding Puritan fathers, the religious, pious, that made their fortunes on the slave trade. Not just African slaves, but white slaves and native Indian slaves as well. That was the source of natural wealth in 17th century America. By the 18th century it was obvious that America was a nation with apparently boundless natural resources, but exploiting those resources required cheap and abundant labor, ie slavery. That too was the principal source of national wealth, By the 19th century almost all of the available land was taken and industrialization had come to America. That required a different economic system, but it required the wealthy few industrialists to support it. That eroded their profits and so America learned about labor unions, slums, small independent merchants and tradesmen. The wealthy few that made their immense profits from agriculture and slavery lead the nation to civil war rather than give up the opulent and grand lifestyles they enjoyed. With the 20th century, European wars demanded increased industrialization and a commensurate labor force. People misunderstood that hourly wages did not equate to human progress. It allowed the purchase of myriad consumer goods which was mistaken as human progress but there were many examples of people who could not or who were not allowed to participate in the national orgy of consumerism. As the demand for cheap malleable human labor dried up at the end of the 20th century, people suddenly became aware that individual contribution and growth meant nothing, except a means to shove your competitors for a “job” aside. Certainly we have immense human potential, look no further than Bill Gates or Steve Jobs. But these are so few as to be rightfully termed exceptions to the system. The vast teeming majority of Americans now see quite openly that their ruling class is not concerned in the least with their access to health care, old age care, retirement or anything at all for their lifelong contribution to the national wealth and security of their own nation. In fact with a bit of luck their generals may be able to provoke a limited nuclear war which would at one stroke reduce the population by 20–30 millions and galvanize the survivors to concern themselves with fighting to protect what they have.