Abstract. The author deals with the lessons of the period of the so-called catch-up development in the United States of America (XVIII – the beginning of XX century).  The overall thrust of the social and economic progress of this relatively young nation was then determined by the aspiration to adopt technological, organizational and managerial achievements of more advanced economies of the Old World. The author stresses that without resorting to this period of the American history it is difficult to understand the reasons for the extraordinary economic and social take-off of the USA. The author examines the origins of the industrial recovery, the role of the government and the main directions of development policies at that stage. A conclusion is made that the United States succeeded in prudently managing the nation’s resources and the available incomes. By ensuring favorable conditions for life and business procedures the government greatly facilitated the creative forces and rapid economic progress.