As we continue to move forward in restructuring our economy from the great recession, it is important to understand the phases of economic development in the U.S. This infographic illustrates how the pace of economic development has continually accelerated since the beginning of economic growth in the country.
In the early days development was driven by raw material extraction. Communities sprung up as wood, ore, silver, limestone and other materials were dug up or harvested and sent off to markets. From the 1850’s to the 1910’s economic development was driven by increased manufacturing activity. Communities formed near plants and at time the factories even built the communities for their workforce.
To read the original article: Fourth Economy’s Law of Economic Development | Fourth Economy Consulting
