🌱 Wealth and growth

From Capital and Ideology

Larger today and it was in the 18th century and the average per capita income is 10 times higher. From 600 million in 1700 the population of the world has grown to more than 7 billion today. While average income in so far as it can be measured has grown from a purchasing power of less than 100 expressed in 2020 € a month in 1700 to roughly 1000 today.

This is a significant quantitative gain although it should be noted that it corresponds to an annual growth rate of just 0.8% extended over three centuries which proves if proof were needed that earthly paradise can be achieved without a growth rate of 5%.

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