Economic Takeoff
In the context of economic history, an 'economic takeoff' refers to the specific point in time when a country's economy transitions from a long period of stagnation to an era of rapid and sustained growth. This is visually represented as the 'kink' or sharp upward bend in the 'hockey stick' graph of GDP per capita.
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Investigating the Causes of 'Hockey Stick' Growth and Its Effects on Poverty and Inequality
Economic Takeoff
Classification of Countries by Economic Takeoff and Wealth
Country X's economy experienced very slow growth for centuries before beginning a period of sustained, rapid expansion around 1870. In contrast, Country Y's economy remained largely stagnant until it began a similar period of sustained, rapid expansion around 1985. Based on these historical growth patterns, what is the most probable conclusion about their current economic status?
Evaluate the following historical claim: While the exploitation of colonial resources and enslaved labor significantly accelerated the Industrial Revolution, the revolution's foundational internal elements, such as scientific innovation and the establishment of property rights, were sufficient on their own to eventually produce the same industrial transformation.
Historical Roots of Modern Economic Disparities
Match each description of a country's current economic status with the most likely historical growth pattern that led to it.
Analyzing Historical Economic Trajectories
The 'Great Divergence' Explained
Based on their current relative levels of economic development, arrange the following countries in chronological order, from the one that most likely began its period of sustained, rapid economic growth earliest to the one that began it most recently.
The significant differences in average income between countries today are largely explained by how early each country began its period of sustained ____, a transition from centuries of relative economic stagnation.
The 'Flatlands' in Global Income Distribution Visualizations
An economist observes that Country A's average income is approximately 40 times higher than Country B's. Based on the historical perspective of how global income disparities emerged, which of the following statements offers the most fundamental explanation for this vast difference?
A country that began its sustained economic expansion in 1990 and experienced an average annual growth rate of 8% since then is now almost certain to have a higher average income than a country that began its expansion in 1890 and grew at an average rate of 2% annually.
Match each description of a country's current economic status with the most likely historical growth pattern that led to it.
Learn After
Imagine two countries. Country A's economy began a period of rapid and sustained expansion around the year 1800. Country B's economy remained largely unchanged for centuries, only beginning a similar period of rapid and sustained expansion around 1950. Assuming both countries have maintained this growth, which statement best analyzes their likely economic situations today?
Identifying Economic Takeoff on a Graph
Analyzing a Nation's Growth Trajectory
The 'Hockey Stick' of Economic Growth
A country that experienced its transition to rapid, sustained growth in the 20th century is likely to have a higher GDP per capita today than a country whose transition occurred in the 19th century, because the more recent growth benefits from more advanced technology.
Match each country's historical economic description to the most likely outcome for its present-day economic status, based on the timing and nature of its growth.
The term for the point in a country's economic history when it transitions from a long period of stagnation to an era of rapid and sustained growth, often visualized as a sharp upward bend in its long-run GDP per capita graph, is known as the 'economic ____'.
A historian is describing the long-run economic development of a country that is now considered wealthy. Arrange the following descriptions of its economic phases into the correct chronological order, from the earliest period to the most recent.
The Significance of the Transition to Sustained Growth
An economic historian is studying four different nations. Which of the following descriptions best characterizes a nation that experienced a classic 'economic takeoff'?