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In terms of GPD the US was the world's largest economy well before World War I. Europe choosing to self-immolate twice before mid-century only served to widen t
by SubjectToChange 2y ago
In terms of GPD the US was the world's largest economy well before World War I. Europe choosing to self-immolate twice before mid-century only served to widen the gap.
- mistrial9 2y agoreferences here are important.. it seems reductive framing to judge using economic units without acknowledging the interdependancies of real human living conditions and contexts, around the globe; secondly, unified national currency in the USA was not exactly a settled thing, not long before that era.. so measuring has to have some wrinkles in it, no?
- mighmi 2y ago> wrinkles They go the other way. The US surpassed the UK in per capita income in the 1880s. However, American yeomen farmers, factory workers etc. were far better off than (non-UK) Europeans even in 1800, hence millions of Europeans immigrating. By 1913, the American was still earning almost twice as much as the German or French: https://en.wikipedia.org/wiki/List_of_regions_by_past_GDP_(PPP)_per_capita https://en.wikipedia.org/wiki/List_of_regions_by_past_GDP_(P...
- WalterBright 2y ago"The United States has been the world's largest national economy in terms of GDP since around 1890." https://en.wikipedia.org/wiki/Economy_of_the_United_States https://en.wikipedia.org/wiki/Economy_of_the_United_States
- jahewson 2y agoHuh? During the preceding decades the US invented the skyscraper, was home to the world’s tallest building, invented the light bulb, air conditioning, the airplane, the supermarket, and cotton candy!
- RadixDLT 2y agosome of the ideas were REHASHED from Europe, some were invented by Europe migrants
- Galanwe 2y agoIf you consider US versus any single European country yes. But we are talking about US getting brains from all over Europe. The combined GDP of the top 3 European countries (Germany, UK, France) pre WW1/2 is larger than the US, just as the GDP per capita of any individual European country pre WW1/2 is higher as well.
- TulliusCicero 2y ago> just as the GDP per capita of any individual European country pre WW1/2 is higher as well. Is that true? https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F400a9475-6f33-4239-96f2-7ec6d49dfa1f_2048x1338.png https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_pr...
- Galanwe 2y agoOh indeed, I looked at the GDP numbers and divided by the current population ratio, looks like it changed more than I thought across time.