ABSTRACT
Accelerated industrialization began in the United States in 1865 and was complete by 1900. Thereafter, the economy evolved to serve the needs of a consumer culture. U.S. industrial production passed that of Britain in 1885. By 1914 annual production was eight times larger than in 1865 and equaled the combined industrial production of Britain, France, and Germany. Between 1865 and 1914, the gross national product of the United States increased at an average rate of 4 percent per year. The new wealth created between 1865 and 1900 was produced by a population that was only 2.8 times larger than in 1865. The United States was enormously successful at catch-up industrialization.
