Offering new research on strategic factors in the development of the nineteenth century American economy—labor, capital, and political structure—the contributors to this volume employ a methodology innovated by Robert W. Fogel, one of the leading pioneers of the "new economic history."...

At the close of World War II, the future of economic development was the subject of wide-ranging debates. Historical experience has since shown that these forecasts were uniformly too pessimistic. Expectations for the American economy focused on the likelihood of secular stagnation, which...