St. Louis Fed, Report: From Ye Olde Stagnation to Modern Growth in England
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“Modern economic growth—the sustained increase of real gross domestic product (real GDP) per capita—is a relatively recent phenomenon in world history. But what led an economy to transition from stagnation to modern growth? Population and land availability contributed to the shift, but in what ways?”
“In this essay, I describe the ‘pre-modern growth period’ of England’s history and its transition to modern growth. I document population and GDP trends surrounding the Black Death pandemic of the early 14th century and the role of technological progress, specifically in agriculture.”