America's “exceptional” transition to capitalism: A counter view

This paper is a response to part two of Rob Bryer's (RB) analysis of the development of capitalism in the US, focusing on the second half of the 19th century when the nation was transformed into the world's largest industrial power. We argue that RB's view that America became a capitalist economy only post-1900 is counterintuitive given the scale of output, the rate of acceleration, and the accumulation and concentration of capital prior to that date.