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The world economy brings together two separate reference works by Angus Maddison. In the millennial perspective, Angus Maddison provides a comprehensive view of the growth and levels of world population since the year 1000. In this period, world population rose 22- fold, per capita GDP 13 fold and world GDP nearly 300 fold. The biggest gains occurred in the rich countries of today (Western Europe, North America, Australasia and Japan). The gap between the world leader - the United States - and the poorest region - Africa - is now 20:1. In the year 1000, the rich countries of today were poorer than Asia and Africa. This part of the book has several objectives. The first is a pioneering effort to quantify the economic performance of nations over the very long term. The second is to identify the forces which explain the success of the rich countries, and explore the obstacles which hindered advance in regions which lagged behind. The third is to scrutinise the interaction between the rich and the rest to assess the degree to which this relationship was exploitative. In historical statistics, Angus Maddison looks into the history and political influence of national accounts and national accounting. He demonstrates that such statistical data can enlighten the contemporary and later observer in the analysis of economic phenomena such as growth, market formation and income distribution. This approach is particularly interesting for developing countries which often lack the expertise or data to produce good national accounts and are thus deprived of a vital policy-making tool. For OECD countries, it is a reminder that policies need to be grounded in the reality of verifiable economic data if they are to succeed.
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