Explain the ways in which Great Britain contributed to American economic development.

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pohnpei397 | College Teacher | (Level 3) Distinguished Educator

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Great Britain contributed to American economic development in many ways.

First, the whole American economy in colonial times was based largely on trade with Great Britain.  This trade helped build up a colonial economy that became the basis for the US economy after the Revolution.

Second, Great Britain was the source of America's first factories.  Francis Cabot Lowell got the plans for his famous textile factories from similar factories in Britain.

Finally, over the years, Britain was the source of a great deal of investment in America.  For example, British lenders invested heavily in American railroads in the mid-1800s.

These are some of the important ways in which Britain contributed to America's economic development.

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