The 'Flat World' and the Great Divergence: A Millennium of Global Inequality
For much of history, particularly around the year 1000, the global economy was relatively 'flat,' meaning the average income differences between countries were minor. This contrasts sharply with the modern era, where vast economic disparities exist between nations. This historical shift from a world of low inter-country inequality to one of high inter-country inequality is a central theme in economic history, often visualized in data like Figure 1.1.
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