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The World Economy: A Millennial Perspective/ Historical Statistics
The World Economy brings together two reference works by Angus The World A Millennial Perspective , first published in 2001 and The World Historical Statistics , published in 2003. This new edition contains Statlinks , a service providing access to the underlying data in Excel® format. These two volumes bring together estimates of world GDP for the past 2000 years and provide a unique perspective on the rise and fall of economies historically. "One controversial clash of theories fueled by Maddison's data concerns the relative status of (growth in) the West versus the rest. The figures (in this book) are enriching economists' understanding of what make economies grow, and may even make it possible to reject some of the most prominent historical explanations." Diane Coyle, author of The Soulful Science, former economics editor of The Independent newspaper. "A tour de force . What a wonderful gift for the new century." Robert Mundell, Nobel Prize winner and Professor of Economics, Columbia University . "An essential reference for anyone interested in global development for many years to come." Paul Krugman, Professor of Economics, Princeton University . "Quite simply a dazzling essay." Nicholas Eberstadt, American Enterprise Institute. "Highly recommended . . . refreshing and full of historical information. An important book." Kisanhani F. Emizet, Kanzas University, writing in International Politics.
653 pages, Paperback
First published February 13, 2007
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Displaying 1 - 5 of 5 reviews
October 16, 2018
Finally got to this; one of the two fundamental books (the other being "Farewell to Alms") on the long-term development of the human economy. This one was a good value, having both the historical perspective and methodology and the accompanying tables all in one book. While a few elements of it are growing dated, as far as I can tell, for the pre-1800's economy worldwide and by region, this is still the go-to book and with good reason.
September 1, 2025
Angus Maddison’s The World Economy: A Millennial Perspective is a landmark work that compresses a thousand years of global economic history into a set of coherent narratives and rigorous statistical reconstructions. It is not simply a history book, but a monumental attempt to quantify and explain the long-run trajectories of income, population, and productivity across regions of the world.
At the heart of Maddison’s analysis lies the question of why some nations surged ahead while others lagged. By compiling detailed historical statistics—on GDP, per capita income, and growth rates-he demonstrates how the world economy evolved from a relatively balanced global system in the year 1000 to a starkly unequal one by the twentieth century. Europe’s rise, the Asian empires’ relative decline, the Industrial Revolution, and the later economic resurgence of East Asia are presented with clarity and empirical backing.
One of the book’s most striking contributions is its long-run view of living standards. Maddison shows that for much of history, growth was slow, populations were vulnerable to famine and disease, and productivity gains were modest. The turning point came with the Industrial Revolution in Western Europe, which triggered a divergence in global incomes. This "Great Divergence" left Asia, Africa, and Latin America trailing behind for more than a century. Maddison is careful, however, to highlight the recent “catch-up” of countries like China, Japan, and South Korea, underlining that global economic leadership is not static.
Another valuable aspect of the work is the statistical backbone. Maddison’s reconstructions of historical GDP and population figures are not merely appendices; they form the basis for a new understanding of comparative development. These datasets have since become indispensable references for economists, historians, and policymakers.
As a reader, the book can feel dense due to its reliance on numbers, graphs, and tables. Yet it rewards patience with a panoramic view of human economic experience. It is both humbling and instructive to see how slow progress was for centuries, and how transformative innovation, institutions, and integration have been in shaping modern prosperity.
In conclusion, The World Economy: A Millennial Perspective is a rare blend of quantitative precision and historical breadth. Maddison succeeds in providing not only a statistical history but also a framework for thinking about long-term development, inequality, and global shifts in power. For anyone interested in why the world economy looks the way it does today, this book is an essential and enduring guide.
At the heart of Maddison’s analysis lies the question of why some nations surged ahead while others lagged. By compiling detailed historical statistics—on GDP, per capita income, and growth rates-he demonstrates how the world economy evolved from a relatively balanced global system in the year 1000 to a starkly unequal one by the twentieth century. Europe’s rise, the Asian empires’ relative decline, the Industrial Revolution, and the later economic resurgence of East Asia are presented with clarity and empirical backing.
One of the book’s most striking contributions is its long-run view of living standards. Maddison shows that for much of history, growth was slow, populations were vulnerable to famine and disease, and productivity gains were modest. The turning point came with the Industrial Revolution in Western Europe, which triggered a divergence in global incomes. This "Great Divergence" left Asia, Africa, and Latin America trailing behind for more than a century. Maddison is careful, however, to highlight the recent “catch-up” of countries like China, Japan, and South Korea, underlining that global economic leadership is not static.
Another valuable aspect of the work is the statistical backbone. Maddison’s reconstructions of historical GDP and population figures are not merely appendices; they form the basis for a new understanding of comparative development. These datasets have since become indispensable references for economists, historians, and policymakers.
As a reader, the book can feel dense due to its reliance on numbers, graphs, and tables. Yet it rewards patience with a panoramic view of human economic experience. It is both humbling and instructive to see how slow progress was for centuries, and how transformative innovation, institutions, and integration have been in shaping modern prosperity.
In conclusion, The World Economy: A Millennial Perspective is a rare blend of quantitative precision and historical breadth. Maddison succeeds in providing not only a statistical history but also a framework for thinking about long-term development, inequality, and global shifts in power. For anyone interested in why the world economy looks the way it does today, this book is an essential and enduring guide.
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April 28, 2018good book
May 1, 2019
Painstaking work by Angus Maddison that gives wonderful insights, especially the different time periods when Europe lagged, came at par and leapt ahead. High on data but expects the reader to do his own analysis.
Displaying 1 - 5 of 5 reviews