Puzzling Features of the Historical Income per Capita Distributions Explained

Ron W. Nielsen ()
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Ron W. Nielsen: Griffith University, Environmental Futures Research Institute, Gold Coast Campus, Qld, 4222, Australia.

Journal of Economics Bibliography, 2017, vol. 4, issue 1, 10-24

Abstract: Distributions describing the growth ofthe Gross Domestic Product per capita (GDP/cap) arepuzzling. They show that income per capita was approximately constant over hundreds of years, maybe even over thousands of years, but then, as if suddenly it started to increase.The growth was changed apparently rapidly from approximately horizontal to approximately vertical.Numerous efforts have been made to explain these features but we show that they represent nothing more than the purely mathematical property of dividing two hyperbolic distributions. Historical growth of income per capita can be explained as having been controlled by the simple and familiar forces of growth.

Keywords: Income per capita; Gross Domestic Product; Growth of population; Hyperbolic growth. (search for similar items in EconPapers)
JEL-codes: A10 A12 A20 B41 C02 C12 C20 C50 Y80 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (2)

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