Wednesday, April 9, 2014

Growth over the Very Long Run

From the excellent (and long) Capital in the Twenty-First Century by Thomas Piketty.  If you look a the time period 1700-2012 - global output grew at an average annual rate of 1.6% with 0.8% coming from population growth and the remaining 0.8% coming from per capita output growth.  The two P's dominate growth - population and productivity.


Years
World Output (%)
World Population (%)
Per Capita Output (%)
0-1700
0.1
0.1
0.0
1700-2012
1.6
0.8
0.8
1700-1820
0.5
0.4
0.1
1820-1913
1.5
0.6
0.9
1913-2012
3.0
1.4
1.6

 

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.