United States Economic development during 1870-1900



United States Economic development during 1870-1900

Introduction

In the last third of the 19th century the U.S. economy, in contrast to other countries, "first tier" of modernization, has grown rapidly. The country has an 1880 value of industrial output in GDP has more than 2 times higher than was agricultural. If in 1860 the U.S. produced 17% of world industrial output, the second largest after the United Kingdom (32%), then in 1880 the proportion of American and British industry in the world production has caught up - at 28%. In 1890 the U.S. has already provided 31% ...