Unified Growth Theory Contradicted by the Economic Growth in Asia
Historical economic growth in Asia (excluding Japan) is analysed. It is shown that Unified Growth Theory is contradicted by the data, which were used (but not analysed) during the formulation of this theory. Unified Growth Theory does not explain the mechanism of economic growth. It explains the mechanism of Malthusian stagnation, which did not exist and it explains the mechanism of the transition from stagnation to growth that did not happen. The data show that the economic growth in Asia was never stagnant but hyperbolic. The alleged dramatic takeoff around 1900 or around any other time did not happen. However, the theory contains also a dangerous and strongly-misleading concept that after a long epoch of stagnation we have now entered the epoch of sustained economic growth, the concept creating the sense of security. The opposite is true. After the epoch of sustained and secure economic growth we have now entered the epoch of a fast-increasing and insecure economic growth.
Code (0)
등록된 구현이 없습니다.
Similar Papers 제목 키워드 기반
Unified Growth Theory Contradicted by the Economic Growth in Latin America
Historical economic growth in Latin America is analysed using the data of Maddison. Unified Growth Theory is found to be contradicted by these data in the same way as it is contradicted by the economic growth in Africa, …
Unified Growth Theory Contradicted by the Economic Growth in the Former USSR
Historical economic growth in countries of the former USSR is analysed. It is shown that Unified Growth Theory is contradicted by the data, which were used, but not analysed, during the formulation of this theory. Unifie…
Unified Growth Theory Contradicted by the Absence of Takeoffs in the Gross Domestic Product
Data describing historical economic growth are analysed. They demonstrate convincingly that the takeoffs from stagnation to growth, claimed in the Unified Growth Theory, never happened. This theory is again contradicted …
Unified Growth Theory Contradicted by the Economic Growth in Europe
Historical economic growth in Western and Eastern Europe is analysed. These regions should have produced the best and the most convincing confirmation of the Unified Growth Theory because they, and in particular Western …
The Postulate of the Three Regimes of Economic Growth Contradicted by Data
Economic growth in Western Europe, Eastern Europe, Asia, countries of the former USSR, Africa and Latin America were analysed. It is demonstrated that the fundamental postulate of the Unified Growth Theory about the exis…