Did economic output start growing faster than population from the beginning of the human inhabitation of the earth? When did modern economic growth begin? Have all of the world's nations experienced the same extent of modern economic growth?

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Precious Lara

5 July, 17:10

Did economic output start growing faster than population from the beginning of the human inhabitation of the earth? When did modern economic growth begin? Have all of the world's nations experienced the same extent of modern economic growth?

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Robert Frazier · Answer 1

No, because economic growth can be described as a phenomenon that is taking place in modern times.

Economic growth began before the industrial revolution in the late 1700s in England, and it was with the technological innovations that occurred with the industrial revolution that there was a greater production facility, speed and greater incentive to consumerism, which generated an economic expansion in the world.

However, it is incorrect to affirm that all the nations of the world experience the same extent of modern economic growth, since each nation is influenced by a cultural and political group, which impacts on innovative decisions and on the conditions of political and social development.