Read sections 1.0-1.3. I’m loving the graphs, charts, videos, and supplementary interactive material they’re including in the book. It’s completely fascinating and quite a different reading experience on a computer versus either paper or e-reader.
Having immediate access to data like this make for a more interesting Economics experience.
Annotations from Unit 1 Capitalism and democracy: Affluence, inequality, and the environment
Cyril Ramaphosa ❧
Annotated on January 30, 2020 at 12:00PM
PPP stands for Purchasing Power Parity
How to Calculate and Use Purchasing Power Parity – PPP
Annotated on January 30, 2020 at 12:07PM
But some have taller skyscrapers at the back, meaning a greater disparity between the top 10% and the rest of the population, whereas others have a less steep profile. ❧
It might be more interesting if the top decile in each country were broken into tenths to show the even more severe disparities. I suspect that some of the height differences would be even more drastic if we could see the top 1% or even the top 0.1% on these graphs.
Annotated on January 30, 2020 at 12:36PM
A thousand years ago, the world was flat, economically speaking. ❧
I don’t think we have to go back even this far. If I recall correctly, even 150 years ago the vast majority of the world’s population were subsistence farmers. It’s only been since the 20th century and the increasing spread of the industrial revolution that the situation has changed:
Even England remained primarily an agrarian country like all tributary societies for the previous 4,000 years, with ca. 50 percent of its population employed in agriculture as late as 1759.
–David Christian, Maps of Time (pp 401) quoting from Crafts, British Economic Growth, pp. 13–14. (See also Fig 13.1 Global Industrial Potential from the same, for a graphical indicator.
Annotated on January 30, 2020 at 01:03PM
If you have never seen an ice-hockey stick (or experienced ice hockey) this shape is why we call these figures ‘hockey-stick curves’. ❧
I’m glad they’ve included an image of a hockey stick to provide the context here, but I’ve always thought of it rotated so that the blade was on the ground and the sharp angle of the handle itself indicated the exponential growth curve!
Annotated on January 30, 2020 at 01:18PM