1.) There were two major events in economic history that produced spikes in the world income and GDP. One was the Agricultural Revolution when people stopped hunting and started to settle into more steady lives. The other was the Industrial Revolution during the 17th century where people started to work in factories producing textiles and other goods to make money.
2.) The difference between the poorest countries and the richest countries is much higher today than it was even 200 or so years ago. Today, we are 75 times richer than the world's poorest countries.
3.) Over the last 40 years, we have seen an 80% reduction in the world's poverty which is fantastic. The absolute worst off people today have it better than middle-class people one hundred or so years ago.
4.) In general, we are better off today than we were thousands, hundreds, even 10 years ago. The world economy is growing at unprecedented rates and according to the rule of 72, the world income will double in 15 years (if absolutely everything goes right).
(Rizzo)
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