NATS 1775 Lecture Notes - Lecture 7: Net National Product, Woodworking Machine, Woodworking
30 Mar 2019
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Document Summary
Three reasons why the american system of manufacturing began in the united states as opposed to any other country in the world is: Rapid population growth: the american population grew at a rate of nearly 3 percent per year (immigration included), a rate more than twice as high as that achieved by any european country even for much shorter periods. American fertility rates levels at the beginning of the nineteenth century were close to fifty per thousand -again, a rate far higher than european levels. As early as 1840 the net national product of the united. States was two-third of more of the size of great britain"s. In subsequent years america"s net product grew far more rapidly than britain"s. The rapid population growth resulted in a very high rate of household formation and therefore a rapid growth of change in the demand for a wide range of manufactured commodities.
