The American System

The United States is very often stated as the country with the world’s largest or greatest economy. The U.S. has only 5 percent of the world’s population, yet it produces 25% of the world’s GDP. It wasn’t always this way, and who knows, some other country may someday surpass the United States. At the turn of the 1800s, the U.S. economy was only 1/6th that of Great Britain but by the end of the 1800s, it was one-fourth larger. It was the 1800s that gave America its economic base that would continue to grow well into the twentieth century.

Read my paper here.