The Economic History of the Last 2,000 Years in 1 Little Graph — The Atlantic

From the Atlantic

Business - Derek Thompson - The Economic History of the Last 2,000 Years in 1 Little Graph - The Atlantic

Every­thing you need to know about GDP for the last 2000 years. It seems like 1952 was indeed, a very good year…

Before the Indus­trial Rev­o­lu­tion, there wasn’t really any such thing as last­ing income growth from pro­duc­tiv­ity. In the thou­sands of years before the Indus­trial Rev­o­lu­tion, civ­i­liza­tion was stuck in the Malthu­sian Trap. If lots of peo­ple died, incomes tended to go up, as fewer work­ers ben­e­fited from a sta­ble sup­ply of crops. If lots of peo­ple were born, how­ever, incomes would fall, which often led to more deaths. That explains the “trap,” and it also explains why pop­u­la­tions so closely approx­i­mated GDP around the world.

Busi­ness — Derek Thomp­son — The Eco­nomic His­tory of the Last 2,000 Years in 1 Lit­tle Graph — The Atlantic.