When the conquests stopped, the empire moved into a steady…

“Economic growth continued by means of a succession of new products which found growing and ultimately massive demand. Some of the new products were…

— Edward A. Hudson

“Sustained growth at 2% a year changes lives. An increase at 2% a year for 150 years increases average incomes by a factor of 16.”

— Edward A. Hudson

“England achieved the breakthrough to growth. England’s growth followed from agricultural advances which increased incomes sufficiently that people started to demand more manufactured goods.”

— Edward A. Hudson

“There had previously, such as in Rome and the Netherlands, been growth over one or two centuries but this earlier growth was based on…

— Edward A. Hudson

“Economic growth took place at the product and industry level; growth was driven by demand and enabled by supply expansion.”

— Edward A. Hudson

“growth processes operate at the market level, not the economy-wide level. This requires us to look at growth industry by industry.”

— Edward A. Hudson

“The result was introduction and adoption of a sequence of new products. These new products started off small but, tapping the huge potential markets…

— Edward A. Hudson

“At the industry level this process went, for example, from cotton, tobacco and wheat through railroads and automobiles, household appliances and electrical goods, to…

— Edward A. Hudson

“After the 1950s the leading causes of death became heart diseases, cancers and strokes, often known as “lifestyle diseases”. These have proved more difficult…

— Edward A. Hudson

“The development of information technology has taken place through a sequence of innovations, one building on another. Most of these innovations did not occur…

— Edward A. Hudson

“Woolens were fundamentally different from cottons – advances in cotton processing made cotton goods accessible to everyone, creating a new market whereas advances in…

— Edward A. Hudson

“Within this stable and secure environment people had the ability and the incentive to pursue their own economic interests.”

— Edward A. Hudson

“Whereas in other countries expansion stopped when an initial advantage had been fully exploited, England moved through a succession of new products and new…

— Edward A. Hudson

“more and better resources going into agriculture allowed food production to increase over the centuries. GDP increased, although along an irregular path, at an…

— Edward A. Hudson

“per capita incomes scarcely changed; the new production was absorbed in supporting an increasing population. This was not economic growth. The economy expanded, it…

— Edward A. Hudson