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Extra resources for Long-Term Factors in American Economic Growth (Studies in Income and Wealth)
Such per capita growth as there is comes from other sources. They presumably would not deny that sufficiently high growth in per capita productivity m~ght lead to immigration and hence extensive as well as intensive growth; but they do not ordinarily go into that. 11 are not as enlightening as one would like since the process of drawing inferences from them is complicated by 3S New Estimates of Gross National Product, Canada, 1870-1926 the interactions between the development of exports, population growth, and capital formation.
For example, for the period 1895-1920, W. A. Mackintosh, in describing the main measured dimensions of growth-in which, incidentally, the high population growth was mentioned first-wrote: The most fundamental single characteristic of the period was a high rate of investment induced by improved expectations of profit from the exploitation of natural resources, which had been newly discovered, newly tapped by the extending railways, subjected to new productive techniques, or converted into profit possibilities by favourable shifts in costs and prices.
4%. ) Account should be taken of the fact that the proportion of the population of working age that belongs to the gainfully occupied category changed from decade to decade. 7). Further, it is generally accepted that there was an undercount of the agricultural labor force in 1901 and hence that the figure for the gainfully occupied persons for 1901 is too low. 11), we compare growth of the output per worker for three periods. 3% from 1921 to 1926 (end years centered on 3year averages in each case).