April 17, 2008
GDP ratios, the industrial revolution and IT
Oki Matsumoto of Monex sent me another interesting GDP slide supporting the idea that IT is equalizing GDP per capita.
OkiBefore the Industrial Revolution in the 19th century, the GDP share of the world was in ratio to the population of each country.However, due to the rise of ideologies such as capitalism and communism and differences in technology development have significantly influenced the GDP share over the past 150 years.
Nowadays, thanks to IT that allows high propagation of technologies, as well as the commingling of ideologies, the GDP share is moving back to what it had been before the Industrial Revolution.
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