Rise of the Stateless Nations

In the year 1800, the average wage was, adjusted for inflation, $3 per day.
Much has changed since then.
‘In the past 30 years,’ Professor Deirdre McCloskey said in a recent Learn Liberty video, ‘the percentage of people who are that badly off in the world has fallen by half. It’s been halved. Things are going well.’
Today, in America, the average person makes $130 a day. A substantial rise.
‘What a transformation!’ says Deirdre. ‘It’s just incredible. We had earned the $3 a day forever. If you want a short economic history, since the beginning of time, it was $3 a day going along like this…’

This post was published at Laissez Faire on Nov 13, 2015.