ECO 108 Lecture Notes - Lecture 6: Asian Americans
Document Summary
For thousands of years, people did not grow in income until suddenly it did. This generation of human"s have more access to everything, more comfortable, more entertained, live longer, eat better, just everything better by a wide margin. Income"s now double every 35 years instead of 1000. The bottleneck is that we have to focus on human output instead of other things such as water, and other resources. Mid-century, population will level off and fall around 9-11 billion. Rizzo says there could be trillion people, or half trillion to fit. All of the world could fit in third of texas living like in new york city. Extensive: there"s more bricks and bread because there are more people naturally. Intensive: people are actually just getting better. All countries used to be 8% difference: now usa is 20 times richer than africa. In 1970, usa was 9 times richer, now 75 percent richer. Total gdp was a trillion now 70 trillion.
