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Econ 219 Spring 2006Lecture #10
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2Economic growth facts•Similar standards of living before 1800•Sustained per capita income growth in the richest countries after 1800•Positive correlation between the rate of investment and output per worker•Negative correlation between the population growth rate and output per worker•Differences in per capita income are increasing•No correlation between level of output per worker and average growth rate in output per worker (negative correlation for richest countries, and no correlation for the poorest)