Economic Growth

Entrepreneurship

Standard of Living

Trade & Globalization

Terms & Theory

New England’s history provides vivid illustrations of how economic growth occurs. New England was the first part of the United States to industrialize and over its history was the site of many important technological advances. It also experienced repeated economic disruptions in response to competitive pressures from other parts of the country and the world. In general, it was able to overcome these challenges by shifting into other, often higher-productivity, activities. These “re-inventions” were facilitated by a culture that valued education and self-reliance and by supportive public and civic institutions.

Features

Timeline of Economic Events in New England
Browse 400 years of economic history highlights to learn about the people, events, and innovations that have helped shape the region’s adaptive economy.

Pursuit! On the Trail of Economic Growth
Check out this fun game that uses our timeline and animated characters to help you examine how economic growth works.

Historial Narrative of Economic Growth in New England*
Read the Historical Narrative for an insightful overview of important advances and challenging setbacks in New England’s economic history.

Sections:

1. Early Days – 17th and 18th centuries

2. Emergence of Manufacturing – 19th century

3. Technology Explosion – Early 20th century

4. Knowledge-Based Economy – Second half of 20th century

5. On the Losing Side of Economic Growth

Much of the intellectual foundation for the Adventure and for the material in the Historical Narrative comes from a conference held at the Boston Fed in October 1998. The conference proceedings were published in the volume, Engines of Enterprise, edited by Peter Temin.

Related Content
For additional information about the relationship between economic growth and rising living standards, see Economic Growth & Living Standards: A Primer.

The Glossary of Economic Growth Terms may also be helpful.

*Written by Lynn Elaine Browne, Executive Vice President and Economic Advisor, Federal Reserve Bank of Boston