Teeninvestor said:Oh wow....
Please actually read some Chinese history before you begin.
First, start off with the Economy of the Song dynasty article on wikipedia.
No increase in per capita wealth in 2000 years???? utter BS.....
It isn't my opinion, it comes from a well regarded study, conducted by a well regarded economics historian, who is routinely cited by academic sources and who has had the grace to provide results study free through the World Bank. I'm sorry, I'll take Maddison, over any Wikipedia article.
In addition, you have systematically failed to understand what a High Level Equilibrium Trap is. Before you can comment on an essay that's central premise concerns the existence of a High Level Equilibrium Trap you must first understand what it is. I have provide a link to give you a simplified understanding of the model, from your very own Wikipedia, which you have obviously not read - it is only 500 words approximately.
Once you understand the model then you will understand why 2000 years of stagnation is well within the realms of possibility. However, I will give you a chance to redeem your intellectual credibility.
Example:
World per capita GDP growth since the birth of Christ could not possibly have been as high as, say, 0.5%; it it were, per capita GDP would have grown from $400 in current dollars to over $8.6 million by the year 2000! We can be certain, then that, for most of this period, growth was indeed close to zero.
Putting it another way, even the most wildly optimistic estimates suggest no more than a doubling or tripling of global per capita between the year 1 and AD 1000.
1 Dollar=1990 International Geary-Khamis dollars (look up what these are before you comment on where the $400 figure came from).
Teeninvestor said:And you haven't still addressed my issues with stagnation. Economies won't stagnate on their own; they will only stagnate when they are a) technologically stagnant(no innovations) b) outcompeted or in a state of political turmoil, c) stifling of developments of capital(for example, Qing taking over the salt & iron industries.
Irrelevant, you do not understand that capital markets, technological innovation, private enterprise et al are not preconditions of an increase in GDP per capita, nor are they preconditions of an increase in GDP in a pre-industrial society. Re: High Level Equilibrium Trap.
Teeninvestor said:No rise in per capita income? check this:
The Song government encouraged people to reclaim barren lands and put them under cultivation. Anyone who opened up new lands and paid taxes were granted permanent possession of the new land. Under this policy, the cultivated land in the Song Dynasty is estimated to have reached a peak number of 720 million mu, and was not surpassed by later Ming and Qing Dynasties
Explain your logic. How does that create an increase in per capita GDP? The only people going to take over barren land are the landless rural poor. The very word barren land really gives away the game, it may have lead to increase in acreage, but not an increase in GDP per capita. Re: High Level Equilibrium Trap.
Teeninvestor said:Emergence of specialized, market agriculture is a far cry from the self-sufficient peasants of the Han and Tang Era.
From agriculture alone we can see that technologically wise, this was an era of gigantic growth.
Yet again you do not understand what an increase in specialization means in a society under the effects of a High Level Equilibrium Trap
Teeninvestor said:And what's next? arguing the Song and Ming, which are one of China's most innovative eras and generally considered to be high points of Chinese civilization, who invented gunpowder, printing press, and compass, as well as sending huge fleets around the world, were "technologically stagnant". That belongs in the humor & jokes section.
You fail to understand what technological improvements mean in a pre-industrial economy. Re: High Level Equilibrium Trap.
Teeninvestor said:Also, GDP per capita figures(for ancient times) are notoriously unreliable.
Granted. However China has by far the best historical sources for such calculations. I will also note that statistically the error margin is within acceptable tolerances for historical economics, and is far more reliable than any descriptive work by a historian.
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I also refer you to this. And wish to inform you, that had you been in a class of mine and spouted disingenuous arguments, backed up with spurious logic, based on Wikipedia articles, with such an obvious poor grasp of economics theory I would have failed you on the spot.
Furthermore, before you comment again on pre-industrial societies economics, you need to understand that you might as well throw out any economic preconditions you have learned in school or university, because they will not be applicable.
If you honestly want to learn, then I'm happy to help and direct you to proper sources which are not Wikipedia. I'm also happy to take the time to explain concepts and the kind of thought processes which are required to arrive at meaningful conclusions which adhere to logic and economic principles.