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Copy file name to clipboardExpand all lines: lectures/long_run_growth.md
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extension: .md
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display_name: Python 3 (ipykernel)
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language: python
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name: python3
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---
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# Economic Growth Evidence
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## Overview
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Adam Tooze's account of the geopolitical precedents and antecedents of World War I includes a comparison of how Gross National Products of European Great Powers had evolved during the 70 years preceding 1914 (see chapter 1 of {cite}`Tooze_2014`).
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```{code-cell} ipython3
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:tags: [hide-input]
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country_names = data['countrycode']
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# Generate a colormap with the number of colors matching the number of countries
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color=color_mapping['GBR'])
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```
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:::{note}
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[International Dollars](https://en.wikipedia.org/wiki/International_dollar) are a hypothetical unit of currency that has the same purchasing power parity that the U.S. Dollar has in the United States at any given time. They are also known as Geary–Khamis dollars (GK Dollars).
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:::
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plt.show()
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```
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We can now put this into a function to generate plots for a list of countries
As you can see from this chart, economic growth started in earnest in the 18th century and continued for the next two hundred years.
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How does this compare with other countries' growth trajectories?
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plt.show()
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```
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The preceding graph of per capita GDP strikingly reveals how the spread of the industrial revolution has over time gradually lifted the living standards of substantial
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groups of people
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plt.show()
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```
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## The industrialized world
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Now we'll construct some graphs of interest to geopolitical historians like Adam Tooze.
It is tempting to compare this graph with figure {numref}`gdp1` that showed the US overtaking the UK near the start of the "American Century", a version of the graph featured in chapter 1 of {cite}`Tooze_2014`.
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