🔴Top 20 Countries By GDP Per Capita, PPP From 1800 To 2040 | [Top Richest Countries-Racing Bar]
In this Top Richest Countries Bar Chart Race (Bar chart ranking), You will see the complete statistical time series of the Top 20 countries GDP per capita (Gdp per capita ranking) from 1800 to 2040. After Watching this Gdp per capita ranking Bar chart race, You will get: 1-What is the Gross domestic product (GDP) per capita. 1-Historical, Current, and Projection of GDP per capita of the top 20 countries. 2- Top 10 countries ranking by the total GDP. 3-What are the driving factors for a change in GDP growth rate? The gross domestic product per capita, or GDP per capita, is a measure of a country's economic output in a given year, divided by the average or mid-year population for the same year. In this Top Richest Countries video, GDP per capita is converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States. Economic history is a very simple story. It is a story that has only two parts: The first part is the very long time in which the average person was very poor and human societies achieved no economic growth to change this. Incomes remained almost unchanged over a period of several centuries when compared to the increase in incomes over the last 2 centuries. Almost all that ordinary people used and consumed in the 17th century would have been very familiar to people living a thousand or even a couple of thousand years earlier. Average incomes in England between the year 1270 and 1650 were £1,051 when measured in today’s prices. The second part is much shorter, it encompasses only the last few generations and is radically different from the first part, it is a time in which the income of the average person grew immensely – from an average of £1051 incomes per person per year increased to over £30,000 a 29-fold increase in prosperity. This means an average person in the UK today has a higher income in two weeks than an average person in the past had in an entire year. This is the one transformation that changed everything. Before the modern era of economic growth, the economy worked very differently. Not technological progress, but the size of the population determined the standards of living. In the very long time in which humanity was trapped in the Malthusian economy, it was births and deaths that determined incomes. More births, lower incomes. More deaths, higher incomes. The Industrial Revolution started in England in the 18th century and from there spread to other parts of the world. This Industrial Revolution ended the Malthusian economy and made it possible for a country to leave poverty behind. ---------------------------------------------------------------------------------------------------------------------------------------- Data Source: This whole GDP data compiled by Gapminder, using the below sources: 1- World Bank, World Development Indicators 2-The Maddison Project Database 3-Penn Worl Table 4-Data before 1990, is based on Gapminder's historic estimates by Mattias 5-Lindgren, which mainly uses Maddison data 6-WEO 2019 April revision Additional Source: 1-OWID ---------------------------------------------------------------------------------------------------------------------------------------- ► Credits: Whoosh sound by MinecraftM153: https://freesound.org/s/432557/ Images used in thumbnail from https://www.freepik.com/ ---------------------------------------------------------------------------------------------------------------------------------------- Playlist of "Global stats": https://www.youtube.com/playlist?list=PLiBoen_5ICp5Ix6KAUQz_RU0OggGjCcU3 ----------------------------------------------------------------------------------------------------------------------------- Like us on Facebook;https://www.facebook.com/allinstats Follow us on Twitter;https://twitter.com/allinstats007 Follow us on Instagram;https://www.instagram.com/allinstats/ Visit at our website; www.allinstats.com ----------------------------------------------------------------------------------------------------------------------------- PS: Don't forget to subscribe "All in stats" for more trusted and awesome videos. https://www.youtube.com/channel/UCOwejeL_IMxkFMt9NhZOefA?sub_confirmation=1 #Richest_Country, #GDP_bar_chart_race, #Allinstats,
In this Top Richest Countries Bar Chart Race (Bar chart ranking), You will see the complete statistical time series of the Top 20 countries GDP per capita (Gdp per capita ranking) from 1800 to 2040. After Watching this Gdp per capita ranking Bar chart race, You will get: 1-What is the Gross domestic product (GDP) per capita. 1-Historical, Current, and Projection of GDP per capita of the top 20 countries. 2- Top 10 countries ranking by the total GDP. 3-What are the driving factors for a change in GDP growth rate? The gross domestic product per capita, or GDP per capita, is a measure of a country's economic output in a given year, divided by the average or mid-year population for the same year. In this Top Richest Countries video, GDP per capita is converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States. Economic history is a very simple story. It is a story that has only two parts: The first part is the very long time in which the average person was very poor and human societies achieved no economic growth to change this. Incomes remained almost unchanged over a period of several centuries when compared to the increase in incomes over the last 2 centuries. Almost all that ordinary people used and consumed in the 17th century would have been very familiar to people living a thousand or even a couple of thousand years earlier. Average incomes in England between the year 1270 and 1650 were £1,051 when measured in today’s prices. The second part is much shorter, it encompasses only the last few generations and is radically different from the first part, it is a time in which the income of the average person grew immensely – from an average of £1051 incomes per person per year increased to over £30,000 a 29-fold increase in prosperity. This means an average person in the UK today has a higher income in two weeks than an average person in the past had in an entire year. This is the one transformation that changed everything. Before the modern era of economic growth, the economy worked very differently. Not technological progress, but the size of the population determined the standards of living. In the very long time in which humanity was trapped in the Malthusian economy, it was births and deaths that determined incomes. More births, lower incomes. More deaths, higher incomes. The Industrial Revolution started in England in the 18th century and from there spread to other parts of the world. This Industrial Revolution ended the Malthusian economy and made it possible for a country to leave poverty behind. ---------------------------------------------------------------------------------------------------------------------------------------- Data Source: This whole GDP data compiled by Gapminder, using the below sources: 1- World Bank, World Development Indicators 2-The Maddison Project Database 3-Penn Worl Table 4-Data before 1990, is based on Gapminder's historic estimates by Mattias 5-Lindgren, which mainly uses Maddison data 6-WEO 2019 April revision Additional Source: 1-OWID ---------------------------------------------------------------------------------------------------------------------------------------- ► Credits: Whoosh sound by MinecraftM153: https://freesound.org/s/432557/ Images used in thumbnail from https://www.freepik.com/ ---------------------------------------------------------------------------------------------------------------------------------------- Playlist of "Global stats": https://www.youtube.com/playlist?list=PLiBoen_5ICp5Ix6KAUQz_RU0OggGjCcU3 ----------------------------------------------------------------------------------------------------------------------------- Like us on Facebook;https://www.facebook.com/allinstats Follow us on Twitter;https://twitter.com/allinstats007 Follow us on Instagram;https://www.instagram.com/allinstats/ Visit at our website; www.allinstats.com ----------------------------------------------------------------------------------------------------------------------------- PS: Don't forget to subscribe "All in stats" for more trusted and awesome videos. https://www.youtube.com/channel/UCOwejeL_IMxkFMt9NhZOefA?sub_confirmation=1 #Richest_Country, #GDP_bar_chart_race, #Allinstats,