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txru | 5 months ago

Hmm, the rigorous systems of measure for GDP were only pioneered by Clark and Kuznets in the 30s and collected widely in the 40s. There were measures before then but they had much less rigor. I imagine the 1880s-mid 1920s were pretty impressive. Ditto for the 1830s-late 1850s.

What’s more, that time period includes recovery from the crashes of the early 30s, the massive war production of the 40s, and the massive boost that was having the rest of the world’s manufacturing and demand still in ruins in the 50s and 60s.

You could be right— but the data sure is confounded.

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