Pre-industrial Economic Growth

This book challenges the view that preindustrial economies were technologically and socially stagnant. Slow but significant changes in production methods occurred as a byproduct of production through learning by doing and specialization. It is also shown that institutions in preindustrial societies such as the guilds and open field agriculture, which are usually described as inefficient and a barrier to progress, were in fact contributing to technological change. In a series of new calculations of growth in per capita income, Dr Persson demonstrates that the European medieval economy experienced considerable growth of income. Many characteristics of the modern agricultural revolution were already present in the 14th century in major regions of Europe. Dr Persson argues that the historical dividing line between economic stagnation and growth is the beginning of the present millennium and not the 18th century. His argument is accessible and non-technical throughout, with formal demonstrations found in footnotes and appendices. The book should be of interest to economists, advanced students of economic history, economic anthropology, history of technology and economic demographers.