The Story of US Economic Growth

[Joe Leote]

This video describes US economic growth as the product of a long steady political-economic process:

https://youtu.be/EFNT6w6fBhA

The video omits the argument wherein the US Civil War accelerated industrial growth in the North and disrupted economic growth in the South. The prosperous middle class in the United States emerged primarily after World War II. For a few decades the US transportation fleet ran primarily on legacy MIL-SPEC parts and WWII era industrial standardization. We call that sort of technology Industry Standards, Public Domain, and/or Open Source. The US also has a long history of government-led political efforts to reduce barriers to trade in interstate commerce. The governments began to establish the Uniform Commercial Code (UCC) in the 1950s.

Joe

[William Meyer]

The point about not having to fight wars on its territory is a good one (for the north at least excepting the shoe raid lee conducted at gettysburg).  The south conversely didnt really recover until the tva.  

A lot of comparisons can be made with the usa post ww2 and the british post napoleonic wars.  Being tee'd up for export dominance and thus full employment - but I'm veering more into michael hudson territory not reflected in the video so I'll stop.

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