The Second Industrial Revolution produced a range of new technologies, including industrial chemistry, electric power, and the internal combustion engine.
W. Arthur Lewis explained why the world divided into manufacturers and primary producers, and into prosperous temperate countries and poor tropical countries.
Long-distance trade grew rapidly during the nineteenth century. It led to a substantial widening of the gap between the per capita incomes of the West and the Third World.
In the three or four decades that followed the Meiji Restoration, Japan utterly transformed itself. The transformation was wide-ranging, deliberate, determined, and profound. By the beginning of World War I, Japan could justly claim to be among the leading nations of the world…
American technological progress was rapid between 1920 and 1970, and slow after 1970. Why was it so rapid before 1970? Why was it so slow after 1970?
Evidence from the Industrial Revolution does not support Acemoglu and Robinson’s claim that the transition to sustained growth always follows the same pattern.
In the first decades of the twentieth century, Russia went from autocracy, to revolution and civil war, to communist rule.
During Stalin’s rule, the Soviet Union abandoned markets in favour of a pure command economy, and industrialized at the fastest possible pace.
The years 1953-85 were a test of the efficacy of central planning. It was a test that central planning unequivocally failed. What went wrong?
Mikhail Gorbachev introduced market-oriented economic reforms in the late 1980s. They were too little, too late. The Soviet Union collapsed in December 1991.