Guesstimating þe Rate of "Technology" Growth Across þe Millennia...

Optional background materials for Econ 115: 20th Century Economic History

There were some questions after the 2021`-08-26 Th Econ 115 lecture about one slide I put up:

The background for this is material I am going to cover next semester in Econ 135, in particular the construction of this table:

The numbers on the slide are from the last column of the table. They are the benchmark-to-benchmark guesstimated annual average growth rates of the value of the stock of useful economic ideas that have been discovered, developed, and deployed into the world economy about how to manipulate nature and organize humans. The last column is simply the guesstimated real-income growth rate plus one-half the guesstimated (or maybe here I can say “estimated”?) human population growth rate.

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If you want to learn more, take Econ 135. Or dip your toe in by taking a look at some of the Econ 135 materials:

Share Brad DeLong's Grasping Reality


Econ 135 Lecture Notes ms. DRAFT

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