American Industrial Production: 1919-2015

by Don Boudreaux on February 21, 2015

in Growth, Myths and Fallacies

It’s impossible to encounter the news these days – on air, on paper, in cyberspace, in personal conversations – without regularly reading or hearing some lament about how Americans no longer produce things or, as a variation on that theme, about how policymakers should aim to create a ‘renaissance’ of American industry.

Here’s a graph from the Fed (click to enlarge):

Screen Shot 2015-02-21 at 7.18.55 AM


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