Back in the early days of this blog, I illustrated how for advanced countries as a group cumulative growth in real GDP per capita in the period since the peak of the last cycle (2007) to 2014 had been no better than that in a comparable seven year period from 1929, during the Great Depression.
Here is an updated version of the chart I ran then for all the OECD countries
The median growth rate – o.22 per cent in total over seven years – is so small as to be almost invisible on the chart.
And here is the comparable chart, using the Maddison database of historical estimates, for the years 1929 to 1936
I wouldn’t want to make much of the differences in the median growth rates – given the imprecision of many of the historical estimates, and the likelihood of revisions to the more recent ones. I was more…
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Utopia, you are standing in it! 
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