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Puzzling Features of the Historical Income per Capita Distributions Explained

Author

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  • Ron W. NIELSEN

    (Griffith University, Environmental Futures Research Institute, Gold Coast Campus, Qld, 4222, Australia.)

Abstract

Distributions describing the growth ofthe Gross Domestic Product per capita (GDP/cap) arepuzzling. They show that income per capita was approximately constant over hundreds of years, maybe even over thousands of years, but then, as if suddenly it started to increase.The growth was changed apparently rapidly from approximately horizontal to approximately vertical.Numerous efforts have been made to explain these features but we show that they represent nothing more than the purely mathematical property of dividing two hyperbolic distributions. Historical growth of income per capita can be explained as having been controlled by the simple and familiar forces of growth.

Suggested Citation

  • Ron W. NIELSEN, 2017. "Puzzling Features of the Historical Income per Capita Distributions Explained," Journal of Economics Bibliography, EconSciences Journals, vol. 4(1), pages 10-24, March.
    • Handle: RePEc:cvv:journ6:v:4:y:2017:i:1:p:10-24
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    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • A20 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - General
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • C20 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - General
    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
    • Y80 - Miscellaneous Categories - - Related Disciplines - - - Related Disciplines

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