1.1 What is the Great Divergence

1.1 What is the Great Divergence - Midterm Review

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What is the Great Divergence? What are its main quantitative features? Discuss some of the main controversies that surround the Great Divergence: When did it begin? Where did it begin? Why did it happen? Has it been exacerbated by globalization? - Feature of Modern Economic History which marks the gap between rich and poor countries o From 1870 to 1990 the ratio of per capita incomes between and the richest and the poorest countries increased roughly by a factor of five between the richest and poorest o Quantitative o - When and where did it begin? Why did it happen? o Why? It’s about the survival of the fittest – patient and hardworking Ppl co-evolved along with the economy that evolved with agriculture Why Britain? Accidentally, not really ahead of others Boring society process of survival of the richest had the most of benefits Nation of shop-keepers economic prosperity with the Industrial Revolution o Downward nature of social mobility Economic success reproductive success Intermediate level of violence o Decline in interpersonal violence as poorer members of society failed to replace themselves; descendents of wealthier people began to pervade all levels of society and behaviors More literate o Reproductive advantage of the wealthy may have contributed to increasing literacy of the population
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Trend towards longer working hours and preference toward saving   spread  production-oriented values  o
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This note was uploaded on 04/19/2010 for the course ECON 430 taught by Professor Arroyoabad during the Fall '10 term at Middlebury.

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1.1 What is the Great Divergence - Midterm Review

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