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American Economic Growth before 1840: New Evidence and New Directions

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  • Lindstrom, Diane

Abstract

This article reviews recent literature on American growth before 1840 and compares it with estimates derived from the Philadelphia region. The estimates indicate that national output per capita rose no less than 0.S to 1.0 percent per annum in the period 1810-1840 and that growth exhibited trend acceleration. Relatively modest growth was accompanied by extensive development, initiated by sharply lowered transport costs. Faced with higher returns for exports and diminished costs for imports, regional producers increasingly specialized. Heightened intraregional trade fostered a pervasive reallocation of resources among sectors and among subsections of the region. This development helped ensure rapid, post-1840 growth.

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  • Lindstrom, Diane, 1979. "American Economic Growth before 1840: New Evidence and New Directions," The Journal of Economic History, Cambridge University Press, vol. 39(1), pages 289-301, March.
    • Handle: RePEc:cup:jechis:v:39:y:1979:i:01:p:289-301_09
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    Cited by:

    1. Paul A. David, 1996. "Real Income and Economic Welfare Growth in the Early Republic or, Another Try at Getting the American Story Straight," Oxford Economic and Social History Working Papers _005, University of Oxford, Department of Economics.
    2. David Krisztián Nagy, 2020. "Hinterlands, city formation and growth: evidence from the U.S. westward expansion," Economics Working Papers 1717, Department of Economics and Business, Universitat Pompeu Fabra.

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