world economic history: introduction
DESCRIPTION
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? - PowerPoint PPT PresentationTRANSCRIPT
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World Economic History:
IntroductionOctober 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
0102030405060708090
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DivergingGDP per capita
1990 International Geary-Khamis dollars
0
5000
10000
15000
20000
25000
30000
1 1000 1500 1600 1700 1820 1900 1950 2000
Western EuropeWestern OffshootsAsia AfricaWorldLatin America
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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
PopulationIncome per capita
B-D
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Surviving children per woman, pre-modern
1.90
1.95
2.00
2.05
2.10
Norway SouthernItaly
France England NorthernItaly
Iceland
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Life expectancy and death rates
0
20
40
60
80
100
120
5 10 15 20 25 30 35
Death rate (per thousand)
Life
exp
ecta
ncy
(yea
rs)
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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
05
1015202530
Ancie
nt Ba
byloni
a
Classi
cal At
hens
Roman
Egypt
Engla
nd*
Amste
rdam*
Paris*
China
**Jap
an*
Day w
age i
n po
unds
of w
heat (*) 1780-1800 (**) 1750-1849
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Calories intake per capita
0500
10001500200025003000350040004500 (*) 1878-96 (**) 1812 (***)1980s (****)1970s
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Stature and living standards
62636465666768 (*) 1710-59 (**)1830s (***)1819-39 (****)1800-29 (*****) 1883-92
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Hours worked
0
2
4
6
8
10
12
England1720-39
England1780-99
Tatuyo Ache Yanomano