4.8 • 750 Ratings
🗓️ 13 April 2020
⏱️ 73 minutes
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0:00.0 | Oh, wow, oh, oh, wow, oh, wow, oh, oh, man. |
0:15.0 | Oh, my. |
0:16.0 | And the world. Hello, you're listening to the Science of Everything podcast, episode 104, |
0:38.3 | Economic Growth and Development Part 2, History of the World Economy. |
0:43.3 | So in this episode, we're continuing on from obviously the previous episode, |
0:46.7 | which was an introduction to poverty and growth, |
0:49.1 | and here I'm going to deliver a concise history of the world economy. |
0:52.9 | So this is a bit more of a history lesson than |
0:54.8 | I think we've ever had on the science of everything before, but it's necessary to really |
0:58.9 | understand a lot of the things that I'm going to subsequently talk about to have the kind of |
1:03.4 | background to what's happened. So this is kind of focusing on the when and the where aspect of |
1:09.0 | economic growth, looking at which places have |
1:11.1 | grown and which haven't. It's useful to bear in mind the categorization of high, middle, |
1:16.8 | and low-income countries that I mentioned in the previous episode when thinking about this, |
1:19.9 | because this is sort of an attempt to explain when this divergence happened and where it happened, |
1:25.5 | and not exactly why, but maybe hinting at some of the reasons |
1:28.7 | why, and then we'll talk about more of the why later. I do want to emphasize that in this |
1:32.6 | series of episodes, I'm primarily interested in explaining differences in contemporary growth |
1:38.2 | rates, particularly since the Second World War. I'm less interested in the historical |
1:42.3 | questions as to say why the Industrial Revolution occurred in Britain, for example. |
1:46.0 | I will talk about that a bit in this episode, but it's a little bit different from trying to address the questions to differences in |
1:52.0 | contemporary growth rates as opposed to growth rates 200 years ago, which you need to sort of think about some different questions in. |
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