Economic history of the United States

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The economic history of the United States encompasses economic activity in the territory that became the United States from the pre-colonial period to the present. Before European colonization, Indigenous communities had diverse economies based on agriculture, hunting, gathering, and extensive trade networks. The colonial economy was largely agricultural and pre-industrial, with trade in agricultural products and natural resources playing an important role. After independence, the Constitution established a national common market, while population growth, westward expansion, and improvements in transportation helped integrate regional economies and expand domestic commerce. During the 19th century, the United States developed from a predominantly agricultural economy into an increasingly industrial one. Canals, steamboats, railroads, and the telegraph reduced transportation and communication costs and facilitated western settlement and the growth of national markets. Industrialization was...

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