NATS 1775 Lecture 7: Nats paper

• School: York University
• Department: Natural Science
• Course: NATS 1775
• Professor: Vera Pavri

Document Summary

Early in the nineteenth century it was evident that america followed european technological advancements, america followed technologies when they suited their economic needs. Although this was the case many variables made for a new process which is known today as the american system of manufacturing. Population growth was a key contributor to the creation of this process, this is not only natural increase but also the increase in immigration to the country. The american population steadily increased by an average of nearly 3% per year (pg. 107) this was almost doubled the rate of any european country. Adam smith stated that the division of labor is limited by the extent of the market (pg. 107) the growth in demand caused for large production which helped the american economy. It was quite clear that population growth caused for the market to grow as well.