Earth economics studies the economy of our planet from the perspective of an autarkic system (a “closed economy”). It ignores the constituent national and regional parts of the planet economy and focuses on the whole. The book respects the heritages of IS/LM (Keynes) and neoclassical growth (Solow) not out of economic respect but because these tools are very useful in understanding the crisis and the policy response to that crisis.
Saturday, January 27, 2018
New data from the Maddison project
New data are available on Earth's per capita income. This project of Groningen University provides data for 169 countries and several world regions including World. The Maddison series provides estimates dating back to the year 1 AD. The series cgdppc is based on international comparisons of income levels; rgedpnapc (what's in a name) is based on growth rates according to National Accounts
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