Tuesday, 4 May 2010

Remembering Angus Maddison

Sadly after my last post relating to Angus Maddison, I discovered he had passed away on the 24th of April.

How ironic?

Please find enclosed a link to The Economist review on Angus Maddison's contribution to Macro Economy.


In my last post I mentioned at length's Angus work from his excellent book Contours of the World Economy.
I mentioned that as per Angus view, China's growth is a simple reversion to the mean as he recently highlighted as per below's quote from the Economist article.

"Ten days before his death he was cited in a speech by Robert Zoellick, president of the World Bank, declaring the end of the “third world”. Maddison’s figures show that Asia accounted for more than half of world output for 18 of the last 20 centuries. Its growing clout in the world economy is, therefore, a “restoration” not a revolution."

Macro Economy doesn't repeat itself but does rhyme...

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