Source: EconLog
by Jon Murphy
“One of the big mysteries of human history is the so-called ‘hockey-stick of prosperity.’ That is, the fact that, for much of human history, standards of living were virtually unchanged. Very little separated the Roman citizen in 1AD from the British citizen in 1700. But, starting in the 1700s, standards of living skyrocketed. … Nothing like this had happened before, and it kept happening. Even the most optimistic economists at the time had trouble explaining it. Enter Mokyr, Aghion, and Howitt. Collectively, their work helped explain why this growth happened, why it happened where it did, and how it is sustainable.” (10/13/25)