North and South

The first two reading selections for Economics 344 make some notable observations about the growth and development of budding economies. In Engerman and Sokoloff’s chapter entitled “Factor Endowments, Institutions, and Differential Paths of Growth Among New World Economies,” the authors compare the economic growth levels of the North American colonies to those of Latin American colonies. Then, in “Tracking the Economic Divergence of the North and the South,” Peter Coclanis notes the different economic paths …

…difference lies in scope. Because one essay is based on the entire hemisphere and another on one country, the conclusions reached by each seem to contradict one another. While Engerman and Sokoloff downplay the North-South divide, Coclanis concludes that differences were more abundant than similarities between the two regions. Despite the difference in scope and the resulting confusion, both essays provide excellent in-depth analysis of the economic trends of budding economies in the New World.