4 ms·
That's an interesting perspective considering the US Economy hasn't broken 3% GDP growth per year since 2005.
by tomlockwood 7y ago
That's an interesting perspective considering the US Economy hasn't broken 3% GDP growth per year since 2005.
- lkrubner 7y agoI don’t think many people realize how long ago was the era when the USA was special. The USA economy grew faster than any other country for most of the period from 1848 to 1929. A huge gap opened up between the USA and the rest of the world. By 1929, the USA produced more steel than all of Europe combined. But the USA has not been the #1 fastest growing nation in any year since 1929.
- wolco 7y agoAnd never will be until they fall down or open all borders. In 1848 Canada wouldn't be a country yet for 20 years.
- indemnity 7y agoWhen averaging it out over 150 years, the USA growth rate is ~2% p.a. The USA's secret is managing to have stayed stable enough over that period, and having maintained that growth number. No-one can sustain 8-10% indefinitely, once the "easy" growth (industrialization, infrastructure, education, urbanization) is in the bag.