Topic: 2,000 Years of Economic History in One Chart (Read 192 times)

From the graph that the OP is trying to show, I am quite astonished by the country of India in its involvement in the global economy, because if you look at the garifik, it turns out that the role, involvement and strength of the Indian economy in the global arena is very large.  In addition, many people think that this Hindustan country, with all the economic problems in the country, such as extreme poverty, so that this hindustan country is often underestimated in terms of the economy.

And today, although India's economy is not as strong as it used to be, unlike thousands of years ago. But with the economic boom and also the demographic bonus that the country is getting. Now a lot of articles and economists experts say that this Hindustan country is predicted to be able to become one of the countries with the largest economic power in the world.

Quite an interesting tread that caught my attention...

And I will slightly convey my wild assumptions to participate in this discussion. Here I am quite amazed by the bamboo curtain country that continues to be so consistent in maintaining, developing and advancing the country's economy until now. So it is no longer strange, that this bamboo curtain country is able to become one of the countries that dominate the global economy. Because the country has taken these steps, for thousands of years and now the bamboo curtain country continues to be determined for the future, the bamboo curtain country will continue to be very competitive and will still and always be a global player in economic terms.

And when it comes to the United States, when it comes to the economy, there is no doubt about it. Because after the end of the Second World War, the United States was the country that benefited the most because apart from its sizable population and technological prowess, but the US also managed to store around 70% of the world's gold reserves. and besides that, the country also managed to make its country's currency a global currency. So it is very beneficial for the economy of the United States until now. And the only concern, as well as the chaos of the United States, is when its currency (US Dollar) weakens.

And I can so salute the country of China, because the country is able to dominate the global economy amid the onslaught of western countries.

Honestly, USD losing its value is not a shocker, nothing can stay at the top forever, and nothing did, since the start of calculations like this, which I assume the best case could be ancient Egypt and Greece, we have seen powers go up and powers go down.

I am not saying our lifetime will be enough, maybe it will take another century or two, we do not know when that could happen, but we can say that USA will lose its place at the very top, and that may not happen overnight, so we are seeing the start of the cracks. Eventually, some other power will takeover, and then whoever is that power, eventually they will go down too, it is just human nature. Whenever people reach to the top, they require a difficulty, a task, a challenge basically where they are tested and that is the logic.

Think of it like boxing, when you reach the top, you fight for the title, and then you fight to defend the title, eventually losing the title one way or another and some other person becomes the champion, and then someone beats them, and so forth.

The economy is written by the victor, and it is difficult to confirm it except through archeology and excavations, which may tell us some details about the histories of previous nations. 200 years ago, there were no means of documentation such as photographs and other things, and only the flags that we see, like the pyramids in Egypt, remain, which tell of a nation that had an economic position but did not. It tells us the economic situation of that country. During the past years and the coming years, many countries in the world are being reshaped, countries are separating and others are merging, countries are being occupied, the composition of their populations is changing, and many other things.

The graphic offers a striking historical perspective on the USD's persistent strength. However, as alternative currencies like as Bitcoin gain popularity, there is a rising awareness of the need for diverse financial tools. While the USD may remain a dominant force, the rising acceptance of decentralized and borderless currencies such as Bitcoin signals a dynamic shift in the financial paradigm that might have far-reaching consequences in the coming years.

I am also curious and amazed that several Asian countries are in this ranking, I don't know whether this article is true or not, but if you look at the current conditions, it seems like it is real.

It is also worth recalling that before 1721 there was no Russia, and there was Moscow ulus, it was also called Tartary. 
Moscow and Moscow ulus were created by Khan Mengu-Timur of the Golden Horde. Only in 1721 after weakening and loss of authority Moscow ulus and Moscovia became independent formation. The name "Russia" has been "invented" by Peter 1, together with borrowing of idea of the state flag. 
Many years, after Moscovia was invented the name "Russia". this country was then ruled for many decades by German appointees. Under whose rule Muscovy captured and enslaved many peoples. Which then turned into the republics of the USSR. And which at the collapse of this lousy country, gladly threw off the shackles of Kremlin power.

Just a history, since the clarifications about the countries went

PS I highly recommend to read the history of origin of the name "Russia"! You will learn a lot of new things, and get heavy dissonance

This remains unqualified to infer accurate information. In addition to the absence of statistical figures dating back to distant periods in history, the Ottoman Empire was vast and not limited to the current area of Turkey. That empire included large areas and Asia, including the entire Arabian Peninsula, parts of the Sassanian Empire (currently Persians or Iran), all of North Africa (today's Maghreb), and parts of the Balkans.
I support Pooya's observation that these charts cannot be accurate if they include a historical period dating back 2000 years. The United States itself does not date back to this date.

USD would no decrease its value in future because all investments are in parallel with dollar especially cryptocurrency and Bitcoin. USA economy is also strong due to good policies ,their tax system is best whole the world . All countries have to trade in dollars and no  country can deny this. The future of Dollar is very bright . Now War is happening between phalasteen and Israel and 
USA will get benefit of this and it will give weapons to Israel and their economy will be stronger and stronger. When War happen between any two states ,USA interrupts between this and sells it's weapons and make health of dollar strong. Bitcoin is also friend of dollar.

This seems more plausible, but I would also like to speculate that the future will have a common currency, and of course I advocate that bitcoin may be one of those influences.

You chart alone explains it all that there were other world powers with significant GDP in those present time's but  were of course later succeeded by another nation sliding down to the USA. What makes you think the slide can't be conceivable in our generation.

There has been larger empires before the USA  yet power changed hand. Centuries previous the contention was predominantly for geographical occupation, in the 20th & 21s  century it's about nuclear power making any "change" a critical one the world have never experienced.

What role are you talking of and on the side of which polar would bitcoin be for since it's a decentralized currency

That's good to note. What's of importance is the lesson the chart has shown, which is how valuable the USD is  and countries with failed economic systems is a result of misleading the lot and with selfish reasons of dependence on the USD for international trading.

The idea of individuals now adopting BTC to aid in their financial life is the reason why BTC is also gaining more users and traders/investors who knows its value competes close with the USD.

I thought UK was the largest empire prior to USA  but that would include India and all the colonies in various forms.  Hard to describe ancient trade as accurately as now and after we have left behind the common link of a gold backed currency its even harder.
  I know USA was a large part of world trade after ww2 hence its world reserve backing now, this is why in modern day with trade balance much different I presume alteration occurs in currency reserves for global.  A great adjustment is to be expected when the world has altered, the tectonic plates behind world trade may not glide smoothly but jolt surprising many unfortunately.

Many things have changed since the year 2017, such that this date has become part of the ancient past, but I see that the last 130 years have changed the features of the modern era. Since World War I, the features of the world have changed and countries emerged and others collapsed. Therefore, it is illogical to start counting from 2000 years, as it will By flattening the curve by giving values to things that no longer exist, it gives them the same effect as the last 100 years, which is more important. For example, the United States 200 years ago was not the same as it is now, and the same is true for the United Kingdom, and there were empires such as the Ottoman Empire and the Soviet Union.

Pretty sure that's what they meant but whatever, these countries have been going on since the antiquity only to be conquered under a single banner, and then from there be emancipated once again, just like what happened to Turkey which was once a nomadic state before being fought over by the Seljuk and the Ottoman empire, so the validity of this chart at some point is still high. In any case, this pretty much shows how cyclical the power is when it comes to these countries. US for one have been in the top of the game for decades with historic lows every now and again. China has been steadily increasing in GDP but with what's going on in their internal economy I doubt they could hold this setup for long.

I am amazed to see how china and India are world-dominating powers in the world economy. The rise of the United States following World War II causes the GDP of these two dominant powers to fall. Wester colonials looted so much that they lost more than half of their GDP within centuries. We might now see the fall of the USA in our lifetime but we need to admit their economy has weakened and china's economy is rising again.

You are right, the point he mentioned is a good one but the GDP of the USA or of any country listed on the graph can increase if they leverage the BTC technology, but BTC technology doesn't play the important role of increasing the GDP solely, there are other factors too which increase GDP.

But I have seen that, the USA never left any earning opportunity whether it's about Oil, Gold, or any other valuable assets they have done everything possible to achieve that thing like (well, I think I should not mention the examples, as many might not like it). It's not that I a against the USA or anything like that <-- just clearing the doubts.

Actually, I don't like their ways, overall we all have our own opinions and IMHO USA is going fast but China is giving solid competition too, After 2000 the era of technology started and I can say that till 3000 this era will be the main character to increase or decrease the GDP of countries.

The source is a jp Morgan article
https://www.theatlantic.com/business/archive/2012/06/the-economic-history-of-the-last-2-000-years-in-1-little-graph/258676/

Turkey just had another name, Ottoman Empire (in Portuguese Império Turco Otomano), Turkey came from this ethnic group AFAIK and is what the author considered.

Although I fundamentally agree with the great power measured in GDP that the USA has had in the 20th century, I am not entirely convinced by the chart. Like the previous comments, there are things that I do not see clearly, such as Italy having a higher GDP than Spain in the century following the discovery of America.

The chart doesn't look linear as described by the author, it doesn't show the time when they shifted wealth and power. Because in over 500 years alone which is shown in that chart, they all didn't rise. in the 1500s, it was the start of the fall of China's wealth and dominance and was also the rise of the UK.

Economies rise and fall just as the major powers. Some fall already in a short period of time not even getting to the top.
In the 1500s, the rivals were Spain, France, and UK. And China at that time was already on the decline and it was always technological advancement and major wars that brought down major powers regardless of the wealth growth. It's just unbelievable to see China rise again to 86% since 2010.