Friday, 15 June 2012
growth of incomes per head after 1871 in western countries
Australia and UK were the richest in 1870-1900, Australia was especially rich in WWII, but lost then its lead.
Finland and Spain were the poor houses until 1930 (Spain until 1955) and marched then to prosperity. Maybe Spain will follow Italy to the bottom of the pack in the coming years below New Zealand.
There has been a lot of convergence in the incomes per head in the western countries after WWII.
Norway and the US are the winners of last decade.