The Rise and Fall of American Growth: The U.S. Standard of Living since the Civil War (The Princeton Economic History of the Western World Book 70)

by Robert J. Gordon

Consumption expenditures in 1870 were about 76 percent of GDP. Multiplying this ratio by the per-capita GDP estimate cited at the beginning of this chapter yields implied consumption expenditures per capita of $2,808 in 2010 prices.