“ 3D Growth Projections” by ccPixs.com is licensed under CC BY 2.0: www.ccPixs.com
Take a look at how rapidly the colonies developed over the many years in advance of the successful American revolution. Comments are from
by An Empire of Wealth: The Epic History of American Economic Power John Steel Gordon.
One part that is astounding to me is certain geographies were very conducive to a certain type of crop. That is why tobacco, or corn, or cotton, or fishing for cod thrived in certain areas.
Consider: export of tobacco from Virginia to England:
1618 – 20,000#
1622 – 60,000#
1627 – 500,000 #
1629 – 1,500,000#
1638 – 3,000,000#
let’s look at the annual increase and compound rate of growth:
Continue reading “Rapid economic growth of the American colonies before the revolution.”
How to illustrate the super-abundance produced in the U.S.? Perhaps this view of a corn field, knowing there are huge fields of corn for a hundred miles in every direction. “ An Iowa Summer Carpet” by cwwycoff1 is licensed under CC BY 2.0
Why these is so much economic output in the U.S. is a valuable question because once you can explain why the U.S. has seen such powerful growth for such a long time, there is a possibility, remote though it may be, for others to have the same prosperity.
Each of us has to search for the answer by yourself. I suggest you seriously consider the first chapter of
if you want to get your arms around the answer. An Empire of Wealth: The Epic History of American Economic Power by John Steel Gordon
It is not just that the US is a large country that goes from coast to coast.
Continue reading “Why has there been such astounding economic success in the United States?”