Économie

Is the Industrial Revolution a good precedent for explosive economic growth today?

The Industrial Revolution is a weaker precedent for 10× growth than it first appears. During the pre-IR UK, growth rates this fast were often within normal year-to-year variation, while today a 10× jump would be far outside modern experience. The post argues that an Industrial Revolution-style acceleration would likely look more like a modest rise in frontier growth, not a sudden move to 20%+ annual growth. [mattsclancy.github.io]

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