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The Facts of Economic Growth - Stanford University

CHAPTER 1 The Facts of Economic JonesStanford GSB, Stanford , CA, United StatesNBER, Cambridge, MA, United at the Economic Over the Very Long of Frontier the Facts of Frontier Growth : Beyond Rise of Worked and Price of Natural Spread of Economic Long Spread of Growth in Recent Distribution of Income by Person, Not by TFP : A Theory of and the Role of and Economic vs Hsieh Klenow Diffusion of of Macroeconomics,Volume2A 2016 Elsevier 1574-0048, are people in the richest countries of the world so much richer today than 100 years ago? And whyare some countries so much richer than others? Questions such as these define the field of economicgrowth. This paper documents the Facts that underlie these questions. How much richer are we todaythan 100 years ago, and how large are the income gaps between countries?

latest data and gathered together in a single place—potentially useful to newcomers to the field as well as to experts. The result, I hope, is a fascinating tour of the growth literature from the perspective of the basic data. 4 Handbook of Macroeconomics.

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