§Industrialization vs. economic growth.
§U. S. wealthier than
Britain in 1800, but little industrialization.
§Growth can come from
improvements in traditional activities, e.g., agriculture.
§Per capita growth not “revolutionary” during industrial revolution.
§But denominator growing
rapidly.
§Increased output sustains
rapid population growth.
§Did growth in “new”
sectors contribute to growth in “old” sectors?
