The Second Industrial Revolution produced a range of new technologies, including industrial chemistry, electric power, and the internal combustion engine.
Category: history of economic growth
The Division of the World
W. Arthur Lewis explained why the world divided into manufacturers and primary producers, and into prosperous temperate countries and poor tropical countries.
More on the Division of the World
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.
The Transformation of Japan after the Meiji Restoration
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…
One Hundred and Fifty Years of American Growth
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?
Why Nations Fail: Theory is Tidy, History is Messy
Evidence from the Industrial Revolution does not support Acemoglu and Robinson’s claim that the transition to sustained growth always follows the same pattern.
An Economic History of Russia: 1900-1924
In the first decades of the twentieth century, Russia went from autocracy, to revolution and civil war, to communist rule.
An Economic History of Russia: 1924-1953
During Stalin’s rule, the Soviet Union abandoned markets in favour of a pure command economy, and industrialized at the fastest possible pace.
An Economic History of Russia: 1953-1985
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?
An Economic History of Russia: 1985-1991
Mikhail Gorbachev introduced market-oriented economic reforms in the late 1980s. They were too little, too late. The Soviet Union collapsed in December 1991.
Merchants and Mechanics 