Unified Growth Theory

For most of human history, economic development appeared almost static. Then, merely a couple of centuries ago, select nations began to break free from prolonged stagnation, initiating a period of sustained growth that transformed living standards and reshaped wealth, demographics, education, and health across continents. Unified Growth Theory by Oded Galor offers the first comprehensive framework that spans the entire economic history - from the inception of civilization to contemporary times. Drawing on historic and prehistoric influences, Galor explains the varied timing in transitions from stagnation to growth and the emergence of global income disparities. He demonstrates how the interplay between technological advances and population dynamics elevated the importance of education, contributed to declining fertility rates, and allowed economies to allocate resources towards a steady rise in per capita income. This pivotal work lays out a unified perspective that sheds light on three distinct phases of development while challenging traditional Malthusian views and exploring the intricate connections between economic progress and human evolution.