3 ms·
It's hard to know how real stagnation is. Certainly since 1961 growth has been on a tear, rising more than 7 fold in low income countries[1], and 26 times for t
by Jeff_Brown 4y ago
It's hard to know how real stagnation is. Certainly since 1961 growth has been on a tear, rising more than 7 fold in low income countries[1], and 26 times for the world as a whole[2].
If you restrict attention to the window from 2014 to 2021, then growth in low income countries has been nil -- but the same is true from 1976 to 2001[1].
Rises in gdp per person are almost by definition technological, and the improvements in and the diffusion of tech are both hard to predict.
It's clear, though, that growth in lower income countries has been slower.
[1] https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=XM https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?location...
[2] https://data.worldbank.org/indicator/NY.GDP.PCAP.CD https://data.worldbank.org/indicator/NY.GDP.PCAP.CD