I often hear that the decade of the 1950s was the best for economic growth in history. But I think I have also read that the decade of the 1880s was the best. Does anyone have facts (or opinions) on the comparison between these two periods? If you respond, you can define “economic growth” how you like. Which do you view as superior to the other?
Good question. I’m waiting for a response, too.
I don’t have an answer to what you are asking, but I have a suggestion. I think you should consider the trustworthiness of your sources i.e. try to remember from where did you hear that 1950s had the best economic growth in history and from where did you hear that it was 1880s. Do you remember your sources?
The question is totally irrelevant since wealth is determined by several factors. Education level, IQ, size of government, freedom in banking, medicine and health care, and over variables which vary over time. It’s like comparing apple and orange.
Anyway, if you want more serious evidence that economic freedom enhances GDP, See Rindermann.
Relevance of education and intelligence at the national level for the economic welfare of people (pp. 136-137, figures 4 & 5)
Relevance of education and intelligence for the political development of nations: Democracy, rule of law and political liberty (p. 316, section 5.4, and figure 7)
Cognitive Capitalism : The Effect of Cognitive Ability on Wealth, as Mediated Through Scientific Achievement and Economic Freedom (figure 4 & 6)
Intellectual classes, technological progress and economic development: The rise of cognitive capitalism (p. 110, figures 1, 2 & 3)
As for the question, for what I have learnt recently, it appears that the 1950s was possibly (and even probably) better than the 1880s. Again, this is totally irrelevant.
(EDIT : now I remember that Robert Higgs has written something about the post war II)