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Visualizing The Wealth Of Nations Over 2000 Years
From Year 1 to today, Angus Madison, a British economist who specialized in measurement and analysis of economic growth and development, combined modern research techniques with his own extensive knowledge of economic history to estimate the historical spread of The Wealth of Nations...
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Inflation and central banks are insidious
They forgot to account for inflation. Cavemen didn't have a mortgage on their caves, had no student loans, or credit card debt..
A nations wealth matter not if you're not.
Where is potato?
June 15, 1389.
More importantly, lets see the spiritual decline...starting from Year 1 to present.
.
Whats 'wealth' when you are spiritually weak.
That's when you are actually poor but think you are rich.
Some people are so poor, all they have is money?
Thank you, two hoots. Imitation is the sincerest form of flattery.
He has a different username, so fuck off. Also, China was poor as dirt until 1850 CE? Right, good research.
So, you may ask... how does it end?... Who ends up with it all?
Simple... he who will have all the gold... The Chinese!
How does it end? Like a game of Monopoly. Those losing get mad. You find out that the guy winning was stealing money from the bank the whole time. Board gets tossed and punches get thrown. You wasted your whole Saturday night and you vow to never play again.
They did account for inflation ... read the legend .... in 1990 International Dollars ..... thats an adjusted measure
What it does not account for is income or wealth inequalities within each country.
What inflation measure were they using? Oh the current one. So the statement stands: They did not account for inflation.
How much of this wealth do the Rothschilds control? 30% maybe?
Why is Africa never green?
Whoever made this is racist.
Cleopatra committed suicide before year 1?
Who on Earth worked this out? Very clever.
yeah, the ancient cultures of meso-America, and southeast asia account for nothing.
"But the annual revenue of every society is always precisely equal to the exchangeable value of the whole annual produce of its industry, or rather is precisely the same thing with that exchangeable value. As every individual, therefore, endeavors as much as he can both to employ his capital in the support of domestic industry, and so to direct that industry that its produce may be of the greatest value; every individual necessarily labors to render the annual revenue of the society as great as he can. He generally, indeed, neither intends to promote the public interest, nor knows how much he is promoting it. By preferring the support of domestic to that of foreign, he intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. Nor is it always the worse for the society that it was no part of it. By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it. I have never known much good done by those who affected to trade for the public good. It is an affectation, indeed, not very common among merchants, and very few words need be employed in dissuading them from it.
What is the species of domestic industry which his capital can employ, and of which the produce is likely to be of the greatest value, every individual, it is evident, can, in his local situation, judge much better than any statesman or lawgiver can do for him. The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it."
http://genius.com/Adam-smith-an-inquiry-into-the-nature-and-causes-of-th...
Define "wealth"...
The chart defines it as "historic estimates of GDP" for whatever that is worth.
So far that doesn't seem to be worth much...and the map falsely assumes that civilization started in the MENA region. When it didn't. Not even close...unless you are an Orthodox Jew and believe the world is only 6500 year old and the Dinosaur bones were placed in geological sediment to test one's faith. Which is retarded.
Here's the weird thing about Abrahamic faiths in general, there is a character in them by the name of Al Khdir. Much like Coyote is a regular character of stories in the First Nations folklore and mythology. Al Khdir is a regular character in most of the Arabic myths and folklore. In the Arabic folklore he's the guy Moses was told to go learn from, Moses eventually pisses him off and Al Khdir tells him to fuck off. What's weird is that character never appears in Judeo-Christain theology ever. Where as in Arabic and Islamic mythology he's a central character in the Noah flood thing by surfing the wave on a giant fish/surf board, instructs Moses( until he tells him to fuck off) and apparently chilled out with Mohammed while smoking weed. Yet mysteriously is never discussed in Judeo-Christain faiths even though one would think that a key character in about 1/3rd of the old testament and torah would be present. Sort of leads to the question if Islam by it's adoption of Al Khdir is actually older than the other two by their omission of a central character of the mythology of the region.
Sort of leads to the question if Islam by it's adoption of Al Khdir is actually older than the other two by their omission of a central character of the mythology of the region.
Well, seein as Mohammed wasn't born until the 6th century AD, and Islam born out of him, I'd say you already answered your own question.
But I do get your point about them bringing Al Khdir forward to Islam.
He was the figure head of Islam as their principal prophet. But the teachings and poetry related to most of the myths and stories are nearly always related to a telephone game through history as Al Khdir being one principal repeating figure the area, the Djinn and Effrit being another. Many of these stories out dating the Judaic Torah by thousand plus years from being passed along on a more verbal tradition. When things get written down, it's usually the editor that has the final say in the matter. Then like a source control system, the written copy often goes branching a thousand directions and the verbal tradition stays the same. Which is a shame because those stories are actually kind of fun.
Health. For starters.
Without health, wealth is of little consequence when I watched friends and relatives die from cancer.
Otherwise, wealth is what one wishes it to be.
But, that is just my silly observation, and I am but a fool.
Indeed.
"For what will it profit a man if he gains the whole world and forfeits his soul? Or what will a man give in exchange for his soul?" - Matthew 16:26
What is wealth?
For a time I lived in Newfoundland, where I rented a room from an old woman. One day she decides to cook a dinner for her tenants (there were three of us), so she asks me to go down to the basement and bring up a pail of moose meat. The basement was filled with 10-gallon pails of salted moose and caribou meat (courtesy of her hunting sons), and the walls were lined with jars of preserves, mostly from her garden, and those of her neighbours.
She was a wealthy woman, but I don't think she contributed much to GDP.
Visualize ur x wife when U gently sqeeze the trigger Perfect shot
Irrelevant.
This implies that "nations" are eternal and defined by geography.
"Nations" are neither as they are comprised of mortal humans and geography is relevant only insofar as it defines where the people that make up the nation are on the globe. People define nations, not geography. Egypt today is nothing like Egypt during the height of its power as it was populated with people who were neither Islamic nor Nubian (other than a few slaves).
Watch as the "nation" (people) of Islam conquers France and the "nation" of France becomes something other than what it was. Or, consider the relevance of the "nations" made up of native Americans that occupied North America in the year 1300 to the "nations" of the U.S. and Canada today.
Irrelevant.
National borders are defined by mass graveyards.
Kings are descended from the best butchers (of people).
Ha! Angus' "own extensive knowledge of economic history" is abysmal. At a glance, he left out the gold rich South American civilisations, Korea's 4300 yr old civilisation that far exceeded Japan's in precious metal ownership and wealth, most of the Persian Empire and even the Austro-Hungarians. Shit, he even assumes India and China didn't get going until the Europeans popped over to rape the hell out of them. Useless and embarrassing piece of trash.
was going to say the same, total lack of historic knowledge here
He probably didn't know how to measure it.
And lacking the knowledge could not compare it to the others.
Or he could be a stupid idiot. Is that reduntant?
Reply to OC sure:
Adam Smith, “Hand thy God” thought money was metal by weight. That sort of nonsense is enough to dismiss him straight out.
All economics are: Land + Labor = tool. Land+Labor+tool= machine. Land+Labor+Machine = Goods. If we extract energy from land to fuel the machine, we get labor savings and more goods, and huge efficiency factor boost.
This equation does not include money, nor does it say anything about the quality of the labor. Money allows division of labor, which is a giant efficiency gain at producing goods.
Labor that can extract from earth, and fashion useful machines is a unique type of labor. Not all labor can do that; and Adam does not understand this.
IQ and wealth of Nations addresses “labor” part of equation. Earths gifts are free, and Capitalism only passes on extraction costs in prices. Capitalism, if not restrained, also takes rents by not including destruction of the commons, for example polluting the environment to extract earth’s gifts to make goods. No self-correcting hand/god there. Read confession of an Economic hit man to disabuse yourself of any notion that Capital’s returns are always beneficial.
http://www.rlynn.co.uk/uploads/pdfs/Intelligence%20and%20the%20Wealth%20and%20Poverty%20of%20Nations.pdf
Note that wealth centers and radiates about Germany and England, and their expansions. Like it or not, the historical truth is radiating out from a Geographic zone, primarily Anglo and Germanic tribes (including Saxons) are the “labor” that ended creating and making machines which consumed energy, to thus accelerate human labor with horsepower (chemicals, electric motors, etc. Honorable mention to Tesla who was Serbian.) Welcomed recently to this club, are the Han tribes (Chinese, Japanese, Koreans who also have the ability to visualize machines and maximize their labor.)
Money is also not an invisible veil; capitalism also has capital flows, where it seeks out best return. For example, it will flow overseas to say “India” where it will then use Indian labor value and extract what it can. It will flow to Africa, to then extract from that rich continent, minerals from their earth.
Africa can never climb up the wealth curve, if their labor cannot take earth and make useful goods with it. In Capitalism, money is distributed to labor in the form of prices. Labor makes goods, and goods fetch prices in the market. Extracting goods from earth only benefits those companies or countries that monopolize the land. In Russia, during the Yeltsin years, the Harvard Boys (Jews) convinced Russia to convert their free land commons by hypothecating them with debts, to then have Euros and Dollars.
Euro credits and associated Debt instruments were created to then extract Russia’s Earth, and the improved labor value occurred in the foreign West, to make platinum catalytic converters, etc. Does anyone think that an intelligent population of Russians would allow themselves to be displaced from their land and labor by sneaky debt means, where foreigners hold Euro/dollar denominated debt instruments?
If we Humans don’t like that Capitalism distributes money to labor in the form of prices, then wake up and smell the crap. African’s will never get benefit of their earth, because their labor is not up to the job, and probably never will be unless they acquire new DNA. I suggest Han DNA to then make Blasians, a beneficial mix. But, in fairness, African’s (just like the Russian’s) should not be predated upon and have their earth stolen, to then benefit Capitalisms “hand” rent seekers. Ooops, was I just a racist?
There is only one scheme that was ever devised to fix the distribution problem of capitalism that “hand invisible” ignores, and that is Douglas Social Credit theory.
But, hey shhhhh, lets all obscure and hide the truth about things, because truth can be unpleasant.
My view: Air it out, otherwise – we as a species cannot move forward… and our shibboleths, such as hand nonsense, money is metal, racial egalitarianism, and special ordained people (Jews) will be our undoing. Jews get special target of my ire, because they engage in rents, and their religion codifies rent seeking to then fund more rent seeking in a positive feedback loop, which redounds to them, but weakens others. No hand/God theory can explain rents, so quick, remove the term from language. Rents are costs above the true cost of production, and hence are always thefts, parasitic in origin. Man cannot move forward and build great civilization until he figures out how to distribute properly with money and tax away rents.
We tried political force: pyramid power with Fascism/Socialism/Communism. Hidden money power (debt means) is also pyramidal in nature and funds a psychopathic elite; this elite is more than happy to let hand nonsense percolate and hypnotize the sheeple.
What you just described is called the "Labor Theory of Value".
It has been thoroughly disproven hundreds of times over the last two centuries.
The main problem with it is that it refuses to acknowledge that all production is not equal. You can spend a lot of labor and tools making chia-pets, or digging ditches and filling them in, but these things don't increase the wealth of humanity, and have a negative economic value. (They consume valuable resources while producing nothing of value).
The fact is that supply and demand set value, not labor and resources. Labor and capital set costs...which is an entirely different discussion. It is entirely separate, because it is possible, and common, to lose money by producing something whose demand is less than its costs...ergo that loses money.
The only way we know which production is needed is by reading prices created through people bidding. Note I did not say 'prices' ...because it is possible to set a price and sit on it. It is possible for organizations to manufacture artificial bidding (HFTs). It is possible for Central Banks and governments to attempt to replace people in bidding.
But in doing so, it ceases to be Capitalism. It is the People Bidding that tells us how much people want things, and which things they want...and that is the heart of Adam Smith's 'invisible hand'.
Use government, banks, corporations, or fiat currencies to influence and distort the People-Bidding process, and what you have is NO LONGER CAPITALISM.
If the distorters are primarily government, you have Communism.
If the distorters are wealthy people, you have plutocracy.
If the distorters are wealthy people with inluence in government, you have oligarchy.
If the distorters are War Lords who support their position through force of arms, you have Monarchy/Aristocracy.
If the distorters are ivory-tower intellectuals who direct the government to their conception of what is needed, you have Socialism.
If the distorters are religious ideologues, you have theocracy.
They all have one thing in common.
They want to stand between real individual people and the fulfillment of their needs, and loudly declare "I Know Your Needs Better Than You!!!!".
The essence of capitalism is ethics, not politics/economics.
Therefore, my emphasis added by putting in bold text the most important part of Smith's quote above.
Likewise, gcjohns1971 conclusion is correct.
And from the correct identification that the problem is ethics, then the solution is likewise ethical; i.e. what are Individual Rights?
for what it's worth:
http://data.worldbank.org/indicator/NY.GDP.PCAP.CD
i've got a hard time reconciling these numbers with the ever present news of hi-unemployment, food stamps, food pantries etc.
and of course this has very little to do with the quality of life; poor education, poor health, expensive health insurance, gestapo police actions, overweight, poisoned water.
in other words, this measure is BS
Ohlone Indians pulled oysters from the Bay and fish from the sea, had perfect weather year round, and spent their time making symbolic gifts to trade with nearby tribes as a form of social insurance in case something bad happened in their corner of paradise (which has its roots in the words for 'hunting ground'). Just far enough away from the crazy in Aztecville. Can't get much wealthier than that.