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The economic history of the world encompasses the development of human economic activity throughout time. It has been estimated that throughout prehistory, the world average GDP per capita was about $158 per annum (inflation adjusted for 2013), and did not rise much until the Industrial Revolution .
The Long Depression was a worldwide price and economic recession, beginning in 1873 and running either through March 1879, or 1899, depending on the metrics used. [1] It was most severe in Europe and the United States, which had been experiencing strong economic growth fueled by the Second Industrial Revolution in the decade following the American Civil War.
The national economy grew 1812–1815 at the rate of 3.7% a year, after accounting for inflation. Per capita GDP grew at 2.2% a year, after accounting for inflation. [104] Money that would have been spent on imports—mostly cloth—was diverted to opening new factories, which were profitable since British cloth was not available.
Production increased in the years following the Civil War, but the country still had financial difficulties. [19] The post-war period coincided with a period of some international financial instability. 1869–1870 recession June 1869 – December 1870 1 year 6 months 1 year 6 months −9.7% — A few years after the Civil War, a short ...
The first mass work stoppage in the 195-year history of the United States Post Office Department began with a walkout of letter carriers in Brooklyn and Manhattan, [42] soon involving 210,000 of the nation's 750,000 postal employees. With mail service virtually paralyzed in New York, Detroit, and Philadelphia, President Nixon declared a state ...
This unemployment rate was both the highest rate and largest month-over-month increase in the history of Bureau of Labor Statistics data, which dates back to 1948.
An entrepreneurial spirit and consumer revolution helped drive industrialisation in Britain, which after 1800, was emulated in Belgium, the United States, and France. [10] The Industrial Revolution marked a major turning point in history, comparable only to humanity's adoption of agriculture with respect to material advancement. [11]
The remains of prehistoric humans and even Egyptian mummies from 5,000 years ago have displayed evidence of having had TB. In the 1800s, TB was one of leading causes of death in Europe, but ...