Angus Maddison, The World Economy: A Millennial Perspective, Paris: OECD, 2001, 384 pp
Professor of Economics
Head, Forum Macro of Israel
Bar-Ilan University, Israel
Brezis, E. S. (2001). Review: The World Economy: A Millennial Perspective, 384 pp.
Brezis, Elise S. “Review: The World Economy: A Millennial Perspective.” Edited by Angus Maddison (2001): 384 pp.
Brezis, Elise S. Review: The World Economy: A Millennial Perspective. Edited by Angus Maddison, Paris: OECD, 2001, pp. 384 pp.
This book, which provides data on GDP and population growth for the past millennium, enables quantification of long-term changes, and is therefore of exceptional interest; for research, it is a must.
There are two distinct parts to World Economy: In the first part, Maddison presents a succinct historical view of world economic development, while the second part provides data, which is Maddison’s specialty.
In the first part, Maddison attempts to identify the factors that explain the economic success of some countries, and he analyzes the reasons for the backwardness of others in light of the new data. He places the main onus of economic performance on conquest, international trade, and technological innovations.
In the second part, Maddison provides new data about economic and population growth. The field of economic growth needs data, more and more will be produced. In other words the demand will create the supply. If data are going to be “created,” better that they come from Maddison than anyone else. This book is a gift for macroeconomists.