GrowthHistory(宏观经济学-加州大学-詹姆斯·布拉.pptCopyright ? 2002 by The McGraw-panies, Inc. All rights -1CHAPTER 5The Reality of Economic Growth: History and ProspectCopyright ? 2002 by The McGraw-panies, Inc. All rights -2Questions?What is modern economic growth??What was the post-1973 productivity slowdown?–What were its causes?–Is the productivity slowdown now over??Why are some nations so (relatively) rich and other nations so (relatively) poor?Copyright ? 2002 by The McGraw-panies, Inc. All rights -3Questions?What policies can make economic growth faster??What are the prospects for essful and rapid economic development in tomorrow’s world?Copyright ? 2002 by The McGraw-panies, Inc. All rights -4Looking Back into Deep Time?Up until 1500, there had been almost zero growth of output per worker?After 1800, we see large sustained increases in worldwide standards of living–population growth accelerated–output per capita grewCopyright ? 2002 by The McGraw-panies, Inc. All rights -5Table - Economic Growth through Deep TimeCopyright ? 2002 by The McGraw-panies, Inc. All rights -6Figure - World Population Growth since 1000Copyright ? 2002 by The McGraw-panies, Inc. All rights -7Premodern Economic “Growth”?Thomas R. Malthus–first academic professor of economics–introduced the idea that increases in technology inevitably run into natural resource scarcity?implies that increases in technology lead to an increase in the size of the population but not to an increase in the standard of livingCopyright ? 2002 by The McGraw-panies, Inc. All rights -8The End of theMalthusian Age?Over time, the rate of technological progress rose –by 1500, it was sufficiently high so that natural resource scarcity could not surpass it–sustained increases in the population and the productivity of labor followedCopyright ? 2002 by The McGraw-panies, Inc. All rights -9The Demographic Transition?As material standards of living rise far above s
