Was an Industrial Revolution Inevitable? Economic Growth Over the Very Long Run

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Airy Growth – Was the Take-off Inevitable?

We study the effect of technological knowledge on per-capita income and population in a Malthusian economy. Airy differential equations describe the evolution of knowledge. Consequently, the impact of technological knowledge on aggregate output is feeble before and strong after the Industrial Revolution. The economy exposed to Airy growth of knowledge evolves from a Malthusian regime into a Pos...

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Knowledge, Technology, and Economic Growth During the Industrial Revolution

and an anonymous referee for helpful comments and to Steve Nafziger for research assistance. 1 " It is clear from the preceding that every " art " [technique] has its speculative and its practical side. Its speculation is the theoretical knowledge of the principles of the technique; its practice is but the habitual and instinctive application of these principles. It is difficult if not impossib...

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Economic Growth in the Very Long-Run1

The evolution of economies during the major portion of human history was marked by Malthusian Stagnation. The transition from an epoch of stagnation to a state of sustained economic growth has shaped the contemporary world economy and has led to the Great Divergence in income per capita across the globe in the past two centuries. This entry examines the process of development over the course of...

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Long-run Economic Growth and Human Capital

Economic growth is usually viewed from a short-term perspective but it is long-term growth that has been the basis of wealth and power for nation states throughout history. It is the basis also of the additional jobs and higher living standards that we all desire today. Most economists are happy enough, I think, to be labelled ‘pro-growth’. They do argue, however, about the priority to be attac...

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ژورنال

عنوان ژورنال: The B.E. Journal of Macroeconomics

سال: 2001

ISSN: 1935-1690,2194-6116

DOI: 10.2202/1534-6013.1028