Population, Income and Capital

Abstract

This paper was written with three specifications in mind: (a) the empirical evidence is confined to the last two centuries (1750–1950); (b) as much of the world as possible is brought within view; (c) the unit of observation is the nation-state. Limitations of data and knowledge make it impossible to have full world coverage for all the 200 years; and for some purposes, several states are combined into wider units. But we consider it important to strive for adequate temporal and spatial coverage. Discussions of economic growth of nations in the literature are too often characterised by a wide gap between the narrow base of the author’s empirical foundation and claims of eternity and universality for his theory.