Economic Prosperity

From 1870 to 1913, America’s real GDP increased from $20 billion to $131 billion from 1870 to 1913.

That is a huge GDP increase. It brought prosperity to America. Over those 43 years, America had its highest growth ever over any continuous period of time

In 1913, the US central bank, known as the Federal Reserve, was established.

The relevance of this GDP growth is for Americans to comprehend that America achieved its best growth during a period when it did not have a central bank. Also, there was no so-called stimulus conjured up by government.

The only stimulus applied to America was by the American people who worked hard and developed products and services to improve their lifestyles using capitalistic principles.

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