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Business, 21.12.2021 09:10 kevonmajor

The rapid growth of the US economy in the immediate aftermath of the Civil War had several aspects, including a long-term rise in productivity and of output, a sharp rise in financial instability, rapid technological change, population growth, and income polarization. Was the huge increase in European immigration (and the subsequent increase in the labor supply) the principal reason that wages didn't grow, or was mechanization and automation (i. e., a great growth in per capita output) the principal reason?

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