The Convergence: America’s Long Arc of Development
The following is a four-part post about the phases of the economic development of nations – pre-industrial, industrial, post-industrial – and a discussion of the current state of affairs in the United States and the world. Part I: How Countries Develop For all of their differences, countries, and even civilizations, follow a similar path in their development. The timeline and specifics vary from nation to nation, but the general formula remains constant. On a high level, poor countries become rich…