Advanced Search
MyIDEAS: Login to save this paper or follow this series

Was an Industrial Revolution Inevitable? Economic Growth Over the Very Long Run

Contents:

Author Info

  • Charles I. Jones

Abstract

This paper studies a growth model that is able to match several key facts of economic history. For thousands of years, the average standard of living seems to have risen very little, despite increases in the level of technology and large increases in the level of the population. Then, after thousands of years of little change, the level of per capita consumption increased dramatically in less than two centuries. Quantitative analysis of the model highlights two factors central to understanding this history. The first is a virtuous circle: more people produce more ideas, which in turn makes additional population growth possible. The second is an improvement in institutions that promote innovation, such as property rights: the simulated economy indicates that the single most important factor in the transition to modern growth has been the increase in the fraction of output pain to compensate inventors for the fruits of their labor.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.nber.org/papers/w7375.pdf
Download Restriction: no

Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 7375.

as in new window
Length:
Date of creation: Oct 1999
Date of revision:
Publication status: published as Advances in Macroeconomics (The B.E. Journal of Macroeconomics) Vol. 1: Iss. 2, Article 1 (June 2001): 1-45
Handle: RePEc:nbr:nberwo:7375

Note: EFG
Contact details of provider:
Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
Phone: 617-868-3900
Email:
Web page: http://www.nber.org
More information through EDIRC

Related research

Keywords:

Other versions of this item:

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Gary S. Becker, 1960. "An Economic Analysis of Fertility," NBER Chapters, National Bureau of Economic Research, Inc, in: Demographic and Economic Change in Developed Countries, pages 209-240 National Bureau of Economic Research, Inc.
  2. David C. King & Richard J. Zeckhauser, 1999. "Congressional Vote Options," NBER Working Papers, National Bureau of Economic Research, Inc 7342, National Bureau of Economic Research, Inc.
  3. Marvin Goodfriend & John McDermott, 1994. "Early development," Working Paper, Federal Reserve Bank of Richmond 94-02, Federal Reserve Bank of Richmond.
  4. Gary S. Becker & Kevin M. Murphy & Robert Tamura, . "Human Capital, Fertility, and Economic Growth," University of Chicago - Population Research Center, Chicago - Population Research Center 90-5a, Chicago - Population Research Center.
  5. Paul M Romer, 1999. "Endogenous Technological Change," Levine's Working Paper Archive, David K. Levine 2135, David K. Levine.
  6. Jones, Charles I, 1995. "R&D-Based Models of Economic Growth," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 103(4), pages 759-84, August.
  7. Gary D. Hansen & Edward C. Prescott, 2002. "Malthus to Solow," American Economic Review, American Economic Association, American Economic Association, vol. 92(4), pages 1205-1217, September.
  8. Razin, Assaf & Ben-Zion, Uri, 1975. "An Intergenerational Model of Population Growth," American Economic Review, American Economic Association, American Economic Association, vol. 65(5), pages 923-33, December.
  9. Robert E. Lipsey, 1999. "Foreign Production by U.S. Firms and Parent Firm Employment," NBER Working Papers, National Bureau of Economic Research, Inc 7357, National Bureau of Economic Research, Inc.
  10. Pritchett, Lant, 1995. "Divergence, big time," Policy Research Working Paper Series, The World Bank 1522, The World Bank.
  11. Oded Galor & David N. Weil, 1998. "Population, Technology, and Growth: From the Malthusian Regime to the Demographic Transition," Working Papers, Brown University, Department of Economics 98-1, Brown University, Department of Economics, revised 19 Aug 1998.
  12. Oded Galor & David N. Weil, 1993. "The Gender Gap, Fertility, and Growth," NBER Working Papers, National Bureau of Economic Research, Inc 4550, National Bureau of Economic Research, Inc.
  13. Jacob Schoenhof, 1903. "History of the Working Classes and of Industry in France," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 11, pages 416.
  14. Baumol, William J, 1990. "Entrepreneurship: Productive, Unproductive, and Destructive," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 98(5), pages 893-921, October.
  15. Acemoglu, Daron & Zilibotti, Fabrizio, 1996. "Was Prometheus Unbound by Chance? Risk, Diversification and Growth," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1426, C.E.P.R. Discussion Papers.
  16. Ronald Lee, 1980. "A Historical Perspective on Economic Aspects of the Population Explosion: The Case of Preindustrial England," NBER Chapters, National Bureau of Economic Research, Inc, in: Population and Economic Change in Developing Countries, pages 517-566 National Bureau of Economic Research, Inc.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
This item has more than 25 citations. To prevent cluttering this page, these citations are listed on a separate page.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:nbr:nberwo:7375. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.