The Reversal of Fortune
Some countries that were rich in the past are poor today and vice-versa, despite the fact that geography hasn't changed. What does the reversal of fortune tell us about the causes of growth?
User Contributions (0) and Related Materials (3)
Ask a Question
I think you are overstating just how successful St Domingue was in the 18th Century. Whilst there was a period in the early 18th Century during which it was producing 40% or so of the worlds sugar and coffee consumption I think its important to note that this was produced almost entirely by slaves. from wikipedia: "...slave population in 1789 totalled 500,000, ruled over by a white population that numbered only 32,000." So I"d say that the MEDIAN wealth of the population has arguably considerably INCREASED since 1790 since they at least now own themselves.


I think you're right about wealth distribution, but I don't think they have mentioned GDP per capita or median wealth in the video, but total (or aggregate) wealth in the country as the proxy for success. The question is why TOTAL wealth or income has suffered so much in absolute and in relative terms.