Angus Maddison and His Contributions to Economic History: Measuring and Comparing Economic Growth Across Countries and Regions Over Time

Angus Maddison (1926-2010) was a prominent British economist and economic historian who made significant contributions to the field of international economic history. His work focused on measuring and comparing economic growth across countries and regions over long periods of time, using data from his comprehensive Maddison Project Database.

Education and Career

Maddison received his Bachelor’s, Master’s, and Doctorate degrees from the University of Cambridge, where he later became a fellow. He also held academic positions at various universities, including the University of Groningen in the Netherlands and the University of California, Davis.

Maddison spent much of his career working at the Organisation for Economic Co-operation and Development (OECD) in Paris, where he headed the Economic Development Division from 1978 to 1984. He authored numerous books and articles on economic history, including “The World Economy: Historical Statistics”, “Contours of the World Economy, 1-2030 AD: Essays in Macro-Economic History”, and “Monitoring the World Economy, 1820-1992”.

Research and Contributions

Maddison’s most significant contribution to the field of economic history was his research on measuring and comparing economic growth across countries and regions over long periods of time. His comprehensive database, known as the Maddison Project Database, covers the period from the year 1 AD to the present day, and has been widely used by economists and policymakers to study the long-term trends in economic growth and development, and to compare the performance of different countries and regions.

Maddison’s research on India showed that the country had a relatively high level of economic development prior to British colonialism, but that its economy stagnated and even declined during the colonial period. He estimated that India’s share of global GDP was around 24% in the year 1700, which was higher than any other country in the world at the time. However, India’s share of global GDP declined steadily during the colonial period, falling to just 4% by the year 1950. Maddison also highlighted the negative impact of British colonialism on India’s economic development, citing policies such as the imposition of high taxes, the destruction of traditional industries, and the exploitation of India’s resources for the benefit of the British economy.

Maddison’s research on China showed that the country was one of the world’s most prosperous economies prior to the 19th century, but that it experienced significant economic decline during the 19th and early 20th centuries, particularly during the period of European imperialism and Japanese aggression. He estimated that China’s share of global GDP was around 33% in the year 1820, which was higher than any other country in the world at the time. However, China’s share of global GDP declined steadily during the 19th and early 20th centuries, falling to just 4% by the year 1950. Maddison argued that the forced opening of China’s economy to foreign trade, the imposition of unequal treaties, and the exploitation of China’s resources by foreign powers all contributed to the country’s economic decline.

Maddison’s research on the United States showed that the country’s economy experienced significant growth and prosperity during the 19th and 20th centuries, making it one of the world’s wealthiest economies. Maddison estimated that the United States’ share of global GDP was around 1% in the year 1820, but that it increased steadily over time, reaching 28% by the year 2003.

Conclusion

Angus Maddison was a highly influential economist and economic historian whose work has shaped our understanding of long-term economic growth and development across different countries and regions. His comprehensive database of economic indicators and his rigorous analytical methods have made him a key figure in the field of economic history, and his work continues to be widely cited and used by scholars and policymakers around the world.

In addition to his research on measuring and comparing economic growth, Maddison also contributed to debates on economic policy and development. He was a strong advocate of free trade and market-oriented reforms, arguing that they were essential for promoting economic growth and reducing poverty in developing countries. He was also critical of protectionist policies and government intervention in the economy, which he believed could hinder growth and development.

Maddison’s work on India and China has been particularly influential in shaping debates on economic development in these countries. His research has challenged conventional views of colonialism and imperialism, and has highlighted the importance of understanding historical processes in order to understand contemporary economic trends.

In recognition of his contributions to the field of economic history, Maddison received numerous awards and honors throughout his career, including the Alexander Gerschenkron Prize from the Economic History Association and the Balzan Prize in Economic History.

Overall, Maddison’s work has had a profound impact on our understanding of global economic trends and development, and his legacy continues to inspire new research and scholarship in the field of economic history.