Farms that were on poor soil and distant from markets declined, whereas other farms successfully adjusted production as rural and urban markets expanded and as Midwestern agricultural products flowed eastward after 1840. Rural and urban demand for manufactures in the East supported diverse industrial development and prosperous rural areas and burgeoning cities supplied increasing amounts of capital for investment.

"A deft and elegantly written survey of the evolution of the nation's economy through the nineteenth century." -- Michael A. Bernstein, University of California, San Diego

In the late nineteenth century, the United States underwent an extremely rapid industrial expansion that moved the nation into the front ranks of the world economy. At the same time, the nation maintained democratic institutions as the primary means of allocating political offices and power. The combination of robust democratic institutions and rapid industrialization is rare and this book explains how development and democracy coexisted in the United States during industrialization. Most literature focuses on either electoral politics or purely economic analyses of industrialization. This book synthesizes politics and economics by stressing the Republican party's role as a developmental agent in national politics, the primacy of the three great developmental policies (the gold standard, the protective tariff, and the national market) in state and local politics, and the impact of uneven regional development on the construction of national political coalitions in Congress and presidential elections.

From the bestselling author of The Trillion Dollar Meltdown and The Tycoons comes the fascinating, panoramic story of the rise of American industry between the War of 1812 and the Civil War

Compares the economic effects of university research in the USA and Japan. Incorporating historical, sociological and industrial perspectives, the book discusses the mechanics of university-industry interactions and how policies encouraging such interactions can address regional/national needs.

Industrial policy is making a comeback in the United States. It is more urgent than ever to understand how and whether industrial policy has worked to strengthen the US economy. This study analyzes and scores 18 US industrial policy episodes implemented between 1970 and 2020, in an effort to assess what went right and what went wrong—and how the current initiatives might fare. The Peterson Institute for International Economics gratefully acknowledges the support of the Koch Foundation for this project.