It's clear that North took some original steps in that direction, but Hall probably had the most complete approach and should get the most credit. But for Hall, unfortunately, the data are all impressionistic - what people said. None of his machinery survived. His patents were all lost in the Patent Office fire.

The kind of precision manufacturing epitomized in the armories, while it was important, was only a small share of the economy until quite late in the century. Large-scale natural resource development and processing was the name of the game.

I've been in China enough to know that you shouldn't opine on it unless you speak Chinese and have lived there for twenty years. I wasn't pretending to be a China expert in that final chapter. I was just pointing, first to the parallels between Chinese behavior toward us and ours toward GB when we were at the same stage of development, and secondly to how much harder their development path is than ours was.

merica was middle-class for the very start - the people who came first were hyper-strivers from England. There were no vested interests, no ranks, no classes, it was very lightly populated, there were unlimited natural resources - for free essentially - if you failed, you could always start over.

It's clear that North took some original steps in that direction, but Hall probably had the most complete approach and should get the most credit. But for Hall, unfortunately, the data are all impressionistic - what people said. None of his machinery survived. His patents were all lost in the Patent Office fire.

Military power tends to be a function of economic power, and the British Navy was the essential capability for establishing the imperial sway - which was attuned to furnish the raw materials for the British manufacturing ascendance. So they were mutually reinforcing.

Credit is the air that financial markets breathe, and when the air is poisoned, there's no place to hide.