Online here. The data is very scarce on this pre-2011, but World Bank estimates provide an additional single point for countries. In broad terms, the strategy is to extend back to earlier periods the system of national income accounting that countries use today to estimate the total output of the economy. The data covers 1,569 subnational regions from 110 countries covering 74% of the world’s surface and 97% of its GDP. On the x-axis of both charts you find the same metric: The productivity of the agricultural land as measured by the quality of the soil and the climate. What we are interested in is the price change of this bundle of good over time and the history of prices is then expressed in an index called the Consumer Price Index, which is indexed to 100 for a chosen base year. The hours of work a printer had to put in was now measured hours rather than months. The many sources are very well documented at the website of the CLIO project. Journal of Monetary Economics. Feenstra, Robert C., Robert Inklaar, and Marcel P. Timmer. You can use all of what you find here for your own research or writing. In this section we will look at this more recent time and will also study the inequality between different regions – both in respect to the unequal levels of prosperity today and the unequal economic starting points for leaving the poverty of the pre-growth past. This decoupling of income and population is shown in the chart. Gregory Clark and Patricia Levin (2001) – “How Different Was the Industrial Revolution? Our visualisation is an update, based on the same source, of the similar visualisation in Kraay, A., & McKenzie, D. (2014). A solution is to convert the amounts using the Purchasing Power Parity (PPP) exchange rate. To calculate the real increase in wages we need to look at the nominal wage increase in relation to the nominal price increase. Agriculture, hunting, forestry and fishing creates 24 percent of the wealth with prawns, cotton, cashew nuts, sugar, citrus, copra, coconuts, and timber being the most important crops. Global growth for 2018 is estimated at 3.7 percent, as in the October 2018 World Economic Outlook (WEO) forecast, despite weaker performance in some economies, notably Europe and Asia. Converting the rupee amount into US dollars using market exchange rates gives us an average income of $1,500 in India. One important method is ‘hedonic pricing’. In richer countries the share of the population for whom religion is very important is much lower. Interpolation attempts to “fill-in the gaps” using observed ICP rounds in conjunction with inflation or growth data according to some statistical model. Countries in which the income in 2014 is higher than the income in 1960, on the other hand, are above this 45° line. 4 (2011): 96-107. From poverty to prosperity: The UK over the long run, The economy before economic growth: The Malthusian trap, The world economy over the last two millennia, Growth at the technological frontier and catch-up growth. In its forecast the International Monetary Fund (IMF) said that developed countries will suffer "deep recession". To allow for comparisons between countries and over time, the total economic output of a country is put in relation to the number of citizens in that country. What is more, the methodology used and the group of participating countries has differed between each round of the ICP.