ST1976
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The Economic History of the Last 2000 Years
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![share-of-gdp-history1070[1].jpg](https://defencehub.live/attachments/share-of-gdp-history1070-1-jpg.63307/ "share-of-gdp-history1070[1].jpg")
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The Economic History of the Last 2000 Years
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ST1976
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More 2,000 years in a single graphic
Did JP Morgan's striking chart on 2,000 years of economic history bungle the x-axis? Why yes, it did.
In other words, the current hand-wringing over the ascent of Asia needs to be seen in historical context: as the restoration of Asian economic supremacy after a small blip. As Derek Thompson at The Atlantic rightly simplifies it in a blog post, "everything to the left of 1800 is an approximation of population distribution around the world and everything to the right of 1800 is a demonstration of productivity divergences around the world."
![22-201034nac119[1].jpg](https://defencehub.live/attachments/22-201034nac119-1-jpg.63309/ "22-201034nac119[1].jpg")
![2econhist-jpmorgan-june12[1].jpg](https://defencehub.live/attachments/2econhist-jpmorgan-june12-1-jpg.63308/ "2econhist-jpmorgan-june12[1].jpg")
www.economist.com
www.economist.com
Did JP Morgan's striking chart on 2,000 years of economic history bungle the x-axis? Why yes, it did.
In other words, the current hand-wringing over the ascent of Asia needs to be seen in historical context: as the restoration of Asian economic supremacy after a small blip. As Derek Thompson at The Atlantic rightly simplifies it in a blog post, "everything to the left of 1800 is an approximation of population distribution around the world and everything to the right of 1800 is a demonstration of productivity divergences around the world."
More 2,000 years in a single graphic
Did JP Morgan's striking chart on 2,000 years of economic history bungle the x-axis? Why yes, it did.
More 2,000 years in a single graphic
Did JP Morgan's striking chart on 2,000 years of economic history bungle the x-axis? Why yes, it did.
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The thing that jumps out of these charts to an Indian eye is the stunning blow given to India by colonial rule and the marked emergence of the colonising country as a super-power. At one time, the Royal Navy was stronger than the entire balance, with some exception granted to the United States, that had actually beaten the British in sea battles at various times (but then, so had the Dutch).
India is recovering from that near-fatal brush with alien domination and returning to the figures that marked the last period of country-wide prosperity, the reign of the Mughals before the Marathas, Nadir Shah and finally, the British, swept them away.
It will be a long, hard climb back to old, historical levels of prosperity or even GDP, but at the moment, it seems good; the slope is upward.
India is recovering from that near-fatal brush with alien domination and returning to the figures that marked the last period of country-wide prosperity, the reign of the Mughals before the Marathas, Nadir Shah and finally, the British, swept them away.
It will be a long, hard climb back to old, historical levels of prosperity or even GDP, but at the moment, it seems good; the slope is upward.
