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World Economic History: Introduction October 1, 2007
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Growth, historically
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Introduction The Malthusian trap The Industrial Revolution The Great Divergence
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Life expectancy (years) - today & back then
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Diverging
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The Malthusian economy
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The Malthusian trap Who was Malthus? The model The trap
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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
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Surviving children per woman, pre-modern
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Life expectancy and death rates
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Long-run equilibrium in the Malthusian economy
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Revealed technological advance
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Virtues and Vices in the Malthusian model
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Living standards
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Wages and Prices – some examples
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Real Wages, England 1250-1850 The plague Stagnant living standards….
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GDP per capita: England vs. the other countries
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Evidence for other countries in pre-modern times
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Calories intake per capita
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Stature and living standards
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Hours worked
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