EconAir

The Future Manufacturing Labor Force   SUMMARY This post is a summary of some of the themes of previous posts on demographic and population projections, with an emphasis on how demographics impact economic growth. See bibliography at the end of this post. For a list of all blog posts on a wide variety of topics, see  List of Posts by Topic   on my blog.   Almost all countries outside of Africa are already facing or will soon face below replacement birth rates. Without immigration, this could lead first to smaller labor forces with greater numbers of retired citizens. Eventually, however, both the number of workers and retired citizens will decrease. During both stages of the transition, there will be issues of how to increase total output, maintain standards of living, and allocate income between the two major age groups. For background, see  Global Demographics and Population Projections .   Population and economies can growth even if birth rates are below...

  Colonial Farm Kitchen. Notice clock in the corner.   SUMMARY OF AMERICAN COLONIAL HISTORY ECONOMY Although predominantly agricultural, America prospered as a British colony because:   §    America was an important part of the British trading system, as regulated by the Navigation Acts.  Based on Atlantic trade, this was a dynamic and growing international trade zone. o     The richest Americans in 1775 were the rice planters of South Carolina and the tobacco growers of Virginia and Maryland. Both groups had a monopoly in the English markets. §    Tobacco growers imported large numbers of slaves in the 1700s because of a lack of indentured servants from Europe. o     New England provided ships, shipping services, and related merchant services to the English system. New England ships handled most of the trade with the West Indies.  o     In the Middle Atlantic colonies, farm surpluses entered ...