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Capital in the Nineteenth Century$
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Robert E. Gallman and Paul W. Rhode

Print publication date: 2020

Print ISBN-13: 9780226633114

Published to Chicago Scholarship Online: September 2020

DOI: 10.7208/chicago/9780226633251.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 02 August 2021

Capital and American Economic Growth, 1774–1980

Capital and American Economic Growth, 1774–1980

(p.70) Chapter Four Capital and American Economic Growth, 1774–1980
Capital in the Nineteenth Century

Robert E. Gallman

Paul W. Rhode

University of Chicago Press

This chapter places Gallman’s estimates of the value of the United States fixed capital stock, from 1774 to 1840 into the large context. The chapter discusses using the changes in the capital stock as a proxy to measure of economic growth. The chapter documents the early importance of capital accumulation in structures and land improvement. It also performs a growth accounting exercise for the whole nineteenth century.

Keywords:   Capital Stock, Capital Formation, Economic Growth, Structures, Land Improvement, Growth Accounting

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