Much of N.C.’s past economic success was tied to private-sector ‘crowdfunding’

Though the term “crowdfunding” is relatively new, a similar phenomenon led by the private sector helped spur massive growth in the North Carolina economy more than a century ago. That was a key message the director of UNC’s Center for Competitive Economies shared Monday with the John Locke Foundation’s Shaftesbury Society.

Brent Lane says late 19th-century growth in North Carolina depended in large part on capital pooled together from many small investors. In the video clip above, he says that economic history offers lessons for today’s policymakers.

Click here to access video of the full presentation.