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Break from Malthusian Constraints
- Since 1870, technological progress boosted human productivity enough to support economic growth for everyone.
- This broke the old Malthusian constraints where population growth outpaced technology.
1870 Marked a Growth Explosion
- Technological growth quadrupled in rate after 1870, enabling a large enough economic pie to support society.
- Before that, technological growth barely kept pace with population increase, limiting prosperity.
Industrial Revolution Needed Multiple Conditions
- The Industrial Revolution required multiple conditions to align, including culture, resources, and institutions.
- Without these combined, industrial growth did not occur even where individual elements existed.