Equilibrium Impotence: Why the States and Not the American National Government Financed Economic Development in the Antebellum Era
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Why did states dominate investments in economic development in early America? Between 1787 and 1860, the national government's $54 million on promoting transportation infrastructure while the states spent $450 million. Using models of legislative choice, we show that Congress could not finance
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美国国家经济研究局创建时间：
2005-06-01
