Home > Main > TC Blast from the past: The most important event in the history of humanity since the domestication of animals and plants” happened in a country with Debt to GDP greater than 150%

TC Blast from the past: The most important event in the history of humanity since the domestication of animals and plants” happened in a country with Debt to GDP greater than 150%

April 22, 2011

I have a soft spot for one of my old posts.  It’s about the industrial revolution and debt to GDP ratios.

“One of the most important developments in  human history – the industrial revolution in Britain – happened in a country where the Debt/GDP ratio was always greater than 100%. For much of the time, debt was higher than 150% of GDP.

Here is some Wikipedia goodness on the Industrial Revolution:

Economic historians are in agreement that the onset of the Industrial Revolution is the most important event in the history of humanity since the domestication of animals and plants.

From New Deal 2.0. via this excellent Mike Rorty post, it turns out  the Industrial Revolution happened while debt to GDP was over 150%:”

Read more here.

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  1. May 20, 2011 at 9:16 am

    Hi TC,

    Small correction, Rortybomb is Mike Konczal’s blog. Facts like these certainly corroborate MMT.

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