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Since 1921, the American economy has grown more urban and centrally located, and less rural and dispersed. That is to say, personal income comes more from business and industry than from farming. And now we have business and industry too big to fail (e.g., Google, Amazon, Sacks).

Since 1921, America's gross national product (GNP) has become less a provincial economy and it's now more a global economy. So how we in America fare economically depends in large part on how other nations do. (In 1970 5% on America's GNP was due to foreign imports; in 1985 it was close to 25%. These data are from a PhD dissertation.)

Since 1921, consumer demands that were earlier based on personal and family needs have expanded through social media and advertisement to now be based in larger part on marketing promotions. (The Pet Rock is a prime example.)

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Duane Anymouse

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Q: What do you believe are the three most important changes in the American economy—positive or negative—over the last 100 years?
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