What if AI made the world’s financial development explode?

UNTIL 1700 the world economic system didn’t actually develop—it simply stagnated. Over the earlier 17 centuries world output had expanded by 0.1% a yr on common, a charge at which it takes almost a millennium for manufacturing to double. Then spinning jennies began whirring and steam engines started to puff. International development quintupled to 0.5% a yr between 1700 and 1820. By the top of the nineteenth century it had reached 1.9%. Within the twentieth century it averaged 2.8%, a charge at which manufacturing doubles each 25 years. Progress has not simply develop into the norm; it has accelerated.