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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 455.37+3.1%4:00 PM EST
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To: TobagoJack who wrote (85699)1/9/2012 9:58:40 AM
From: elmatador  Read Replies (1) of 220070
 
The US grew as China today: Gilded Age. (It) saw the greatest period of economic growth in American history. After the short-lived panic of 1873, the economy recovered with the advent of hard money policies and industrialization. The Second Industrial Revolution occurred from 1870 to 1920 and included innovations like the use of electricity in factories. In addition to technological innovations, the United States led the Second Industrial Revolution in great part due to its abundance of natural resources.

Since capital and natural resources are complements, the US manufacturing economy became more capital intensive as more and more natural resources were extracted. From 1869 to 1879, the US economy grew at a rate of 6.8% for NNP (GDP minus capital depreciation) and 4.5% for NNP per capita. The economy repeated this period of growth in the 1880s, in which the wealth of the nation grew at an annual rate of 3.8%, while the GDP was also doubled. Real wages also increased greatly during the 1880s. [15] Economist Milton Friedman states that for the 1880s, "The highest decadal rate [of growth of real reproducible, tangible wealth per head from 1805 to 1950] for periods of about ten years was apparently reached in the eighties with approximately 3.8 percent." [16]

en.wikipedia.org
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