from Part I - Financial Crises
Published online by Cambridge University Press: 05 August 2019
The emergence of modern economic life with amenities such as electricity, sanitation and indoor plumbing, modern medicine, and transportation and communication networks, is a recent development in human history. In 1800, someone living in New York, London, or Shanghai experienced conditions that were closer to ancient Rome or Greece than to a mid-twentieth century city. Candles were the primary source of artificial light, modern medicines did not exist, food storage was primitive, and animals, wind, water, and humans supplied all the available power. The vast changes in living conditions since 1800 are the result of nearly two centuries of economic growth that came after several millennia of little or no cumulative progress in living standards. Significant changes did not begin until the 1800s and after approximately 1870 they accelerated further (Gordon, 2016: 1–18; Maddison, 2006: 29).
To save this book to your Kindle, first ensure no-reply@cambridge-org.demo.remotlog.com is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.
Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.
Find out more about the Kindle Personal Document Service.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.