Lecture 4. Nature and extent of pre-industrial economic growth. Low growth of income per head and productivity. The Malthusian equilibrium characterized by subsistence income and constant population (zero population growth) cannot be verified historically.
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Nature and extent of pre-industrial economic growth
LabourA to B is the Malthusian move and B to C is generated by ‘Smithian’ forces
Division of Labour enhances economies of practice
Learning by Doing based Technological Change
+Smithian and Malthusian forces
Low Countries (Northern France, Belgium, Netherlands)
Continental Western Europe
ChinaTrends in urbanization