Answer:
From 1981 to 2001, the US economy went through several significant changes, but one of the most notable was a period of sustained economic growth and expansion. This period is often referred to as the "long boom" or the "Great Moderation."
During this time, the US experienced a period of low inflation, low unemployment, and strong economic growth. The expansion was driven by a number of factors, including:
1. Technological innovation: The development of new technologies, such as personal computers, the internet, and mobile phones, helped to drive productivity and create new industries.
2. Globalization: The opening up of international markets and the growth of global trade helped to drive economic growth and created new opportunities for American businesses.
3. Deregulation: The deregulation of industries such as transportation, telecommunications, and finance helped to spur competition and innovation.
4. Fiscal and monetary policy: The Federal Reserve pursued a policy of low interest rates, which helped to stimulate borrowing and investment, while the government pursued tax cuts and other measures to encourage economic growth.
Overall, the US economy during this period saw significant growth and expansion, with the country becoming the world's dominant economic power and the standard-bearer for free-market capitalism. However, this period was also marked by growing income inequality and other economic challenges that would eventually lead to the Great Recession of 2008.