Review Article on The World Economy: A Millennial Perspective by Angus Maddison

Abstract

This is a review article by Andrew Sharpe from the Centre for the Study of Living Standards of Angus Maddison's path-breaking new book, The World Economy: A Millennial Perspective. The article summarizes Maddison's key findings in a number of areas, with particular emphasis on his estimates of population, real GDP, and real GDP per capita for very long periods, going back to 0 AD for all regions, to 1000 for most major countries, and to 1950 for literally all countries of the world. The article concludes that the book will be required reading for all economists interested in long-run economic growth trends and that Maddison's estimates, while by no means definitive, will stimulate debate for years to come.