Wages, Population, and the Malthusian Escape
Figure 2.17 provides a visual representation of Britain's economic transition by plotting real wages against population. The data reveals a stark contrast between two distinct economic periods. Before 1800, the economy operated within a Malthusian trap, where population and wages generally moved in opposite directions. Around 1800, a fundamental shift occurred, initiating the 'Escape'—a new economic regime characterized by the simultaneous growth of both population and real wages.
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Wages, Population, and the Malthusian Escape
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