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Unified Growth Theory: A puzzling collection of myths based on hyperbolic illusions

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  • Ron W Nielsen

Abstract

The Unified Growth Theory is a puzzling collection of myths based on illusions created by hyperbolic distributions. Some of these myths are discussed. The examination of data shows that the three stages of growth (Malthusian Regime, Post-Malthusian Regime and Modern Growth Regime) did not exist and that Industrial Revolution had no influence on the economic growth and on the growth of human population. All elaborate explanations revolving around phantom features created by hyperbolic illusions might be fascinating but they are scientifically unacceptable and, consequently, they do not explain the economic growth. The data clearly indicate that the economic growth was not as complicated as described by the Unified Growth Theory but elegantly simple.

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  • Ron W Nielsen, 2013. "Unified Growth Theory: A puzzling collection of myths based on hyperbolic illusions," Papers 1311.5511, arXiv.org, revised Dec 2013.
    • Handle: RePEc:arx:papers:1311.5511
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    1. Oded Galor, 2011. "Unified Growth Theory," Economics Books, Princeton University Press, edition 1, number 9477.
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