World Economic History: Introduction October 1, 2007
Growth, historically
Introduction The Malthusian trap The Industrial Revolution The Great Divergence
Life expectancy (years) - today & back then
Diverging
The Malthusian economy
The Malthusian trap Who was Malthus? The model The trap
The 3 assumptions Each society has a birth rate (B) that increases with material living standards The death rate (D) declines as living standards increase Material living standards decline as population increases Population Income per capita B-D
Surviving children per woman, pre-modern
Life expectancy and death rates
Long-run equilibrium in the Malthusian economy
Revealed technological advance
Virtues and Vices in the Malthusian model
Living standards
Wages and Prices – some examples
Real Wages, England The plague Stagnant living standards….
GDP per capita: England vs. the other countries
Evidence for other countries in pre-modern times
Calories intake per capita
Stature and living standards
Hours worked