The Transition from Stagnation to Growth

The major part of my research is concerned with what may be called the “transition perspective” on economic development. This literature starts from the observation that economic growth is a historically recent phenomenon. Until about 200 years ago, living standards were essentially stagnant in every country in the world. Starting with the industrial revolution in Britain, an increasing number of countries have undergone a transformation from a pre-industrial, stagnant, mostly agricultural economy to a modern society where sustained economic growth is the norm.