History’s Hockey Stick: Stagnant Income Before Sustained Growth
As illustrated by Figure 1.1, the 'history's hockey stick' graph shows that for most of recorded history, living standards did not grow in any sustained way. This long period of stagnation was followed by a period of sustained growth, but this turning point occurred at different times for different countries. This variation in timing is a major cause of the vast differences in living standards seen across the world today.
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