>Why Countries Succeed and Fail Economically

This study looks at how different countries’ shares of the world economy have changed and why these changes have occurred, with a particular emphasis on the period since 1820. As explained in this study, the rises and declines in countries’ shares of the world economy occur as a result of very long-term cycles that are not apparent to observers who look at economic conditions from a close-up perspective.


To begin, let’s look at how the world economic pie has been divided up over time and why it has changed. The table below shows the shares of world GDP by major countries and/or regions at various points in time going back to 1500. Scan that table to see how these shares have evolved over time.


To read report in detail: WORLD ECONOMY
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