The Economic Growth Of The United States 1790-1860 Summary
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In Chapter 2 of “The Economic Growth of the United States 1790-1860” Douglas North provides readers with an analysis of the United States economy in 1790; detailing the several factors inhibiting economic growth. North starts the chapter writing about the political struggles the United States faced shortly after declaring its independence and winning the revolutionary war. By 1790 the political crisis had been resolved, and North writes that the nation’s “political stability, energetic populace and abundance of resources” (17) appeared to have assured long-term economic growth. North then immediately informs the readers that was not incorrect, because of forces limiting economic growth.
The first factors inhibiting economic growth in the