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The economic history of the United States spans the colonial era through the 21st century. The initial settlements depended on agriculture and hunting/trapping, later adding international trade, manufacturing, and finally, services, to the point where agriculture represented less than 2% of GDP .
Gordon considers that the apparent increasing economic growth since 1970 is just a faint echo of a great wave of economic growth between 1920 and 1970. The first half of the book discusses the change in the American standard of living pre-WW2, with the second half dedicated to the remainder of the 'special century' and the years post-1970. [3] [4]
Land of Promise: An Economic History of the United States is a book on the economic history of the United States of America by Michael Lind, first published in 2012 by HarperCollins. Omitting the economic circumstances of colonial America, it comprises a time frame that ranges from the Revolutionary War to the Great Recession.
Holistic socio-economic models haven’t been widely adopted of course, with some notable exceptions. In 1972, Bhutan abandoned GDP as its measure of economic progress and replaced it with ...
The United States has a highly developed mixed economy. [44] [45] [46] It is the world's largest economy by nominal GDP and second largest by purchasing power parity (PPP). [47]As of 2024, it has the world's sixth highest nominal GDP per capita and eighth highest GDP per capita by PPP). [10]
The Bureau of Economic Analysis's advance estimate of third quarter US gross domestic product (GDP) showed the economy grew at an annualized pace of 2.8% during the period, below the 2.9% growth ...
The United States exited recession in late 1949, and another robust expansion began. This expansion coincided with the Korean War, after which the Federal Reserve initiated more restrictive monetary policy. The slowdown in economic activity led to the recession of 1953, bringing an end to nearly four years of expansion. May 1954– Aug 1957 39 ...
The Bureau of Economic Analysis's advance estimate of first quarter US gross domestic product (GDP) showed the economy grew at an annualized pace of 1.6% during the period, missing the 2.5% growth ...