The 'Economically Flat' World of a Millennium Ago
Approximately one thousand years ago, the world was described as 'economically flat' because the income differences between countries were relatively minor. This global landscape of small inter-country disparity contrasted with the major income differences that existed within individual countries and regions.
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Figure 1.1: Visualizing Early Global Economic Equality
The 'Economically Flat' World of a Millennium Ago
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An economic historian compares two hypothetical individuals: Person A, a peasant living in 11th-century Persia, and Person B, a merchant living in 11th-century France. They find the economic disparity between them is primarily due to their different social roles. The historian then compares Person C, a software engineer in modern-day Nigeria, with Person D, a software engineer in modern-day Norway. Which statement best analyzes the fundamental shift in the nature of global inequality between these two eras?
Arrange the following descriptions of the global economy in chronological order, from the earliest historical period to the most recent.
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Reconciling the 'Flat World' with Internal Inequality
The statement that the world was 'economically flat' around the year 1000 implies that there was very little economic inequality of any kind during that period.
Match each historical period with the description that best characterizes the dominant form of global economic inequality during that time.
An economic historian presents data showing that in the year 1000, the average income in Western Europe was only slightly higher than in China and India. However, by the year 1900, the average income in Western Europe was many times greater than in both China and India. This dramatic widening of income gaps between different regions of the world is a central illustration of which economic concept?
Historical Perspective on Modern Inequality
The dramatic increase in income disparity between nations that began around the 17th century, marking a shift from a relatively equal global economy, is referred to by economic historians as the ____ ____.
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Learn After
An economic historian describes the world around the year 1000 as 'economically flat'. Which of the following statements most accurately analyzes this description?
The statement that the world was 'economically flat' a millennium ago means that income inequality within individual countries was very low.
Reconciling Global Flatness and Local Inequality
Match each description of the global economic landscape to the historical period it most accurately characterizes.
Evaluating the 'Economically Flat' World Description
Interpreting Historical Economic Data
The description of the world as 'economically flat' around the year 1000 primarily refers to the small income differences between various countries and regions, which stood in stark contrast to the large income differences that existed ____ individual societies.
An economic historian describes the global economy around the year 1000 as 'economically flat,' referring to the nature of income disparities at the time. Which of the following hypothetical scenarios would be least consistent with this description?
An economic historian describes the world around the year 1000 as 'economically flat,' contrasting it with the world of today. Arrange the following descriptions of global income distribution in order, from the one that most accurately reflects the world of 1000 CE to the one that least accurately reflects it.
An economic historian describes the world of a millennium ago as 'economically flat.' This term characterizes the nature of income distribution at the time. Consider the two hypothetical pairs of societies below. Which pair provides a better illustration of this 'economically flat' world, and why?
Pair 1:
- Society A: Average annual income is $450. The wealthiest citizens earn 20 times more than the poorest citizens.
- Society B: Average annual income is $500. The wealthiest citizens earn 25 times more than the poorest citizens.
Pair 2:
- Society C: Average annual income is $1,000. The wealthiest citizens earn 5 times more than the poorest citizens.
- Society D: Average annual income is $40,000. The wealthiest citizens earn 8 times more than the poorest citizens.