Dasgupta on Doing Economics | Lecture
Irwin Collier: Schumpeter's Macro Syllabus 1948—Noted

Themes | Lecture

When do I say the Long 20th Century really started? 1870. Why then? The third modern watershed—the third step-up in the global pace of economic growth—globalization, and the start of the American century. When do I say the Long 20th Century really ended? 2016. Why then? Four reasons: (1) end of the American century, (2) slowdown in global-north growth, (3) failures of economic management, (4) revival of what we now call neo-fascism as a challenge to liberal democracy...

Quantities: What was the typical human standard of living back in 1870? Perhaps $4/day—$1300/year. What is the typical human standard of living today? Perhaps $35/day—$12000/year. Is there a "typical" human standard of living today? Maybe not: global inequality is much greater than it was in 1870, and even more so in 1800. A global north of 800 million with a typical standard of living of $50000/year—$150/day; a global south of 6.8 billion with a typical standard of living of $7000/year—$20/day Is the world today a utopia? Definitely not… Is greater San Francisco today a utopia? What do you think?

Grand Narrative


21:00 of audio


Inequality & Humanity


14:00 of audio


What Has Gone Badly Wrong?


15:30 of audio

  Slouching Towards Utopia?


4:30 of audio

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