Sunday, February 19, 2012

US vs. UK

Someone made a claim in a Youtube discussion that UK economy was the greatest success story for free markets in the 19th century.

In Europe that may be true, but worldwide, the US had fewer regulations than the UK and experienced a faster growth of economy in the 19th century.

Using Measuring Worth web-site, one can see this: the slope of the US graph (in blue) of logarithm of real GDP is steeper. Click on the image to enlarge.

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