by Gary North
The world of 1900 was nothing like the world of 1800. The world of 2000 was nothing like the world of 1900. Why? Because of 2% per annum economic growth per capita.
No one can perceive this low an increase in one year. But when compounded, no one can miss the changes in our lives over a lifetime. I dealt with this in my Mises Institute lecture, “How Come We’re So Rich?”
In my life, I experienced only one major change in my productivity. In late 1980, I switched to a computer to write. I used a primitive version of WordPerfect on a mini-computer: Satellite Software International. In one week, I doubled my output. I continued to use the DOS-based version of the program for the next 25 years.