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Cornucopia: The Pace of Economic Growth in the Twentieth Century

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  • J. Bradford DeLong

Abstract

There is one central fact about the economic history of the twentieth century: above all, the century just past has been the century of increasing material wealth and economic productivity. No previous era and no previous economy has seen material wealth and productive potential grow at such a pace. The bulk of America's population today achieves standards of material comfort and capabilities that were beyond the reach of even the richest of previous centuries. Even lower middle-class households in relatively poor countries have today material standards of living that would make them, in many respects, the envy of the powerful and lordly of past centuries.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 7602.

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Date of creation: Mar 2000
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Handle: RePEc:nbr:nberwo:7602

Note: DAE ME
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Cited by:
  1. Crafts, Nicholas, 2011. "Economic History Matters," CAGE Online Working Paper Series 58, Competitive Advantage in the Global Economy (CAGE).
  2. Gerben Bakker, 2004. "At the origins of increased productivity growth in services. Productivity, social savings and the consumer surplus of the film industry, 1900-1938," Economic History Working Papers 22348, London School of Economics and Political Science, Department of Economic History.
  3. Hickson, Kerry Jane, 2009. "The contribution of increased life expectancy to economic development in twentieth century Japan," Journal of Asian Economics, Elsevier, vol. 20(4), pages 489-504, September.
  4. repec:cge:warwcg:57 is not listed on IDEAS

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