BEFORE 18TH CENTURY , INDIA AND CHINA WERE THE LARGEST ECONOMIES FOR ALMOST 2000 YEARS BY GDP : ANGUS MADDISON COLONIAL POWERS IN 19th AND EARLY 20TH CENTURY BECAME RICH BY EXPLOITING THE THIRD WORLD COUNTRIES : PAUL BAIROCH Paul Bairoch was one of the great post-war economic historians who specialised in global economic history, urban history and historical demography. He published or co-authored more than two dozen books and 120 scholarly articles. Paul Bairoch sought through quantitative, empirical research of historical trends to question and challenge many beliefs which are nowadays generally accepted in economics (see in particular his work Economics and World History: Myths and Paradoxes), among which: the idea that free trade historically led to periods of economic growth; that moving away from free trade caused the Great Depression; and that colonial powers in the 19th and early 20th centuries became rich by exploiting the Third World. Angus Maddison was a British economist specialising in quantitative macroeconomic history, including the measurement and analysis of economic growth and development. Maddison was a pioneer in the field of the construction of national accounts, where a countrys accounts are calculated back in periods of several decades all the way to the year 1. To this end he combined modern research techniques with his own extensive knowledge of economic history and in particular countries performances in the field ofGDP per capita. His work resulted in a deep new understanding of the reasons why some countries have become rich whereas others have remained poor (or have succumbed to poverty). In this field, Maddison was regarded as the worlds most prominent scholar. Data compiled by Angus Maddison, an economist, suggest that China and India were the biggest economies in the world for almost all of the past 2000 years. Why they fell so far behind may be more of a mystery than why they are currently flourishing. During research Angus Maddison said that If Bairoch is right, then much of the backwardness of the third world presumably has to be explained by colonial exploitation, and much less of Europe’s advantage can be due to scientific precocity, centuries of slow accumulation, and organisational and financial prosperity.” Research of Angus Maddison is published by the name The World Economy : A Millennial Perspective theunbrokenwindow/Development/MADDISON%20The%20World%20Economy--A%20Millennial.pdf economist/node/16834943
Posted on: Wed, 12 Nov 2014 05:05:53 +0000
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