Monday 10 June 2013

The importance of the industrial revolution is hard to overstate

The importance of the industrial revolution is hard to overstate. Throughout essentially all of human history, economic growth had proceeded at a rate of 0.1% a year, enough to allow for a very gradual increase in population, but not any growth of per capita living standards. And then, suddenly there was progress where there had been none.

N. Silver, The Signal and the Noise (2012), 6

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