The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Economic Growth in the Very Long Run

  • Oded Galor
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_2819

Abstract

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 article examines the process of development over the course of human history in light of recent advances in unified growth theory.

Keywords

Capital accumulation China Colonialism Convergence clubs Demographic transition Economic growth in the very long run Education Endogenous growth Exogenous growth Fertility Globalization Great divergence Growth take-offs Human capital Income growth Industrial Revolution Industrialization Inequality Land Land productivity Literacy Malthusian stagnation Marriage Microfoundations Population growth Post-Malthusian regime Sustained growth regime Technological progress Unified growth theory 
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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Oded Galor
    • 1
  1. 1.