How did America become so wealthy?
How did America become so wealthy? Railroads expanded significantly, bringing even remote parts of the country into a national market economy. Industrial growth transformed American society. It produced a new class of wealthy industrialists and a prosperous middle class. It also produced a vastly expanded blue collar working class.
Is England a rich or poor nation?
Britain has to start thinking of itself not as a rich industrial country but as a poor country facing first-order economic development challenges. Large parts of the UK are scarcely better off than middle-income developing countries, and on current trends are about to get poorer.
Is America rich compared to the rest of the world?
Constituting less than 5 percent of the world's population, Americans generate and earn more than 20 percent of the world's total income. America is the world's largest national economy and leading global trader.