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The Challenges Of Economic Maturity: New England, 1880-1940, Joshua L. Rosenbloom
The Challenges Of Economic Maturity: New England, 1880-1940, Joshua L. Rosenbloom
Joshua L. Rosenbloom
This paper provides an account of the complex changes taking place within New England in the years from 1880 to 1940. After 1880, technological changes and market shifts undermined the sources of comparative advantage that had promoted the concentration of textile and footwear production within the region and propelled regional economic growth. Despite the decline of these industries after 1880, New England's history after 1880 can hardly be characterized as one of economic decline. Regional economic growth did slow in the wake of these events, but the impact of this slowdown on living standards was moderated, by market driven adjustments …