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What lessons can be learnt about economic growth over the last 2000 years briefly 11. Consider this following graph illustrating long run estimates of the

What lessons can be learnt about economic growth over the last 2000 years briefly

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11. Consider this following graph illustrating long run estimates of the level of GDP per person (in constant price or real terms) in Western Europe: 22 Volta's electric battery (1800); Mechanisation in farming; steam electromagnetic telegraph (1833); engines; Arkwright's spinning machine first transatlantic telegraph cable (1858): (1769); Crompton's mule (1779); bridge Bell's telephone (1876): at Coalbrookdale, England, first Edison's carbon-filament lamp (1878); structuraluse of cast iron (1779) Marconi's wireless patent (1896) First telescopes; GDP per person in Western Europe Huygens invents Padded horse collar pendulum (around 1100); first clock (1658) recorded windmill with Gutenberg's printing Bessemer and Siemens-Martin vertical sails rotating about press Advances In (open-hearth) horizontal axis (1185) Invention and development large-scale processes for of compass; year-round hydraulic making steel Domesday Book navigation in Mediterranean engineering: shows 5,624 after 1250 Languedoc Canal Car powered by watermills in Joins Atlantic and Internal-combustion England south Blast furnace Mediterranean engine (1885): Henry of the Sever (1681)- Ford's Model T (1908) Powered flight (1903) 1000 1050 1100 1150 1200 1250 1300 1350 1400 1450 1500 1550 1600 1650 1700 1750 1800 1850 1900 1950 2000 Source: A. Maddison 2001. What lessons can we learn about economic growth in Europe over the last 2000 years? [1 Mark]

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