Average growth rates of per capita income were close to zero, on average, prior to the Industrial Revolution.

Question

Quizplus · Accepted Answer

This is generally true. Prior to the Industrial Revolution, economies were largely based on agriculture and were limited by the constraints of the physical world. As a result, there was limited technological progress and productivity growth, which meant that average growth rates of per capita income were close to zero.

Average Growth Rates of Per Capita Income Were Close to Zero