The industrial revolution didn’t happen everywhere at the same time, but it did have the sam effect everywhere: massively rising GDP/person.
The Japanese and Chinese stories are the most dramatic. Japan, which was behind Eastern Europe before World War I, nearly caught the United States by the end of the 20th century. China, which fell behind Africa in the middle of the 20th century, is now perhaps the most massive success story in industrialization history.
…One way to read the graph, very broadly speaking, is that everything to the left of 1800 is an approximation of population distribution around the world and everything to the right of 1800 is a demonstration of productivity divergences around the world — the mastering of means of manufacturing, production and supply chains by steam, electricity, and ultimately software that concentrated, first in the West, and then spread to Japan, Russia, China, India, Brazil, and beyond.
$1.2 trillion: How much Americans spend annually on goods and services they don’t absolutely need. (via WSJ)