Figure 2.17: Visualizing the Escape from the Malthusian Trap
Figure 2.17 illustrates Britain's escape from the Malthusian trap by contrasting the relationship between real wages and population before and after 1800. The pre-1800 data, consistent with the Malthusian dynamics shown in Figure 1.12, depicts an economy caught in the trap. However, around 1800, the economy transitioned into a new regime, labeled the 'Escape,' where both population and real wages began to rise at the same time.
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Figure 2.17: Visualizing the Escape from the Malthusian Trap
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Figure 2.17: Visualizing the Escape from the Malthusian Trap