Question

Why has the U.S. been able to grow steadily since its founding over 200 years ago? What do we have that supports economic growth? Offer just one idea on this.

Why is it that some countries – think Africa or the Middle East- cannot seem to maintain economic growth.

Answer 1

The economic history of the United States is about characteristics of and important developments in the U.S. economy from colonial times to the present. The emphasis is on economic performance and how it was affected by new technologies, especially those that improved productivity, which is the main cause of economic growth.

Africa has fallen behind because its people, despite their historical abilities in science, have not done this in an organised manner. The more the western world was able to invent and innovate in the past 300 years, the more "civilised" it became. And as Africa, in comparison, remained closer to nature and was dominated by natural phenomena, the more "primitive" and backward the continent seemed.