The Great Divergence, a term coined by Samuel Huntington (also known as the European miracle, a term coined by Eric Jones in 1981), referring to the process by which the Western world (i.e. Western Europe and the parts of the New World where its people became the dominant populations) overcame pre-modern growth constraints and emerged during the 19th century as the most powerful and wealthy world civilization of all time, eclipsing Qing China, Mughal India, Tokugawa Japan, and the Ottoman Empire.
Before the Great Divergence, the core developed areas included Europe, East Asia, the Indian subcontinent, and the Middle East. In each of these core areas, differing political and cultural institutions allowed varying degrees of development. Western Europe, China, and Japan had developed to a relatively high level and began to face constraints on energy and land use, while India still possessed large amounts of unused resources. Shifts in government policy from mercantilism to laissez-faireliberalism aided Western development.
The Great Divergence is a term given to a period in late 1970s when income differences increased in the United States and to a lesser extent in other countries. The term originated with Nobel laureate, Princeton economist and New York Times columnist Paul Krugman, and is a reference to the "Great Compression", an earlier era in the 1930s and 40s when incomes became more equal in the United States and elsewhere.
A 2011 study by the CBO on the distribution of income in the US from 1979 to 2007 found that after federal taxes and income transfers, the top earning 1% of households gained about 275% and that the bottom 18% only grew 20%. As of 2006, the United States had one of the highest levels of income inequality, as measured through the Gini index, among similar developed or high income countries.
Scholars and others differ as the causes and significance of the divergence, which in 2011 helped ignite the "Occupy" protest movement. While education and increased demand for skilled labor is often cited as a cause of increased inequality, especially among conservatives, many social scientists point to conservative politics, neoliberal economic and social policies and public policy as an important cause of inequality; others believe its causes are not well understood. Inequality has been described both as irrelevant in the face of economic opportunity (or social mobility) in America and as a cause of the decline in that opportunity.
New diverging diamond interchange at I-43 and Brown DeerRoad. See how the new diverging diamond interchange at I-43 and Brown Deer Road will work ... They both note that, so far, all signs point to the diverging diamond.
... reach really great financial success ... It’s interesting to note how Kiyosaki’s opinions diverge greatly from those of more established financial titans like Charlie Munger and Warren Buffet.
Turkish foreign policy has been marked by major geopolitical shifts in the past year ... Dr. Sinem Cengiz ... There is an existing divergence between Turkiye and the West, particularly the US, in their perceptions toward the great power rivalry ... Dr ... X ... .
Alice is a senior lecturer at King’s College London, whose newsletter, The GreatGenderDivergence, has followed research and her own personal travels across the world to understand the root causes of gender inequality.
This background is likely to have nudged her to have great linguistic abilities very early in life. The effects of such a divergent and supporting family setup have moulded her lingual capabilities, ...
... the market in Great Britain. “With trade flows in chemicals between Great Britain and Northern Ireland worth in the region of £1 billion annually, the impact of this divergence would be significant.”.
... the market in Great Britain. "With trade flows in chemicals between Great Britain and Northern Ireland worth in the region of £1 billion annually, the impact of this divergence would be significant.".
... the market in Great Britain. “With trade flows in chemicals between Great Britain and Northern Ireland worth in the region of £1 billion annually, the impact of this divergence would be significant.”.
Investors buy these shares ahead of the IPO given the sharp price gains in most stocks immediately after listing ... The price quoted on these platforms could diverge greatly from the stock’s inherent valuation ... ....
(Photo by Munir Uz Zaman / AFP) (AFP) ... As this column pointed out then (“The great divergence across South Asia”, August 9, 2022), India was the only large economy in South Asia that didn’t need an IMF bailout in the wake of the pandemic ... See more ... ....
The Russian ruble has remained under pressure this year as the impact of sanctions and a stronger US dollar continued ... In an ideal situation, the divergence between the Federal Reserve and Bank Rossii would make a great carry trade opportunity ... ....
For more than a decade, you could be forgiven for thinking that Jack White – rock and roll’s last great aesthetic purist – had diverged from his righteous path, if not lost his way entirely ... Jack White. No Name review . Album of the week. Read more ... .
Nanci LaGarenne has spent years battling her East Hampton neighbor, with no end in sight ... The issues began when her neighbor asked to dig ... The move diverged greatly from how the state had handled the study and treatment of the aquifer system prior ... .
She went on to say, “I said, ‘I hope this haunts you.’ It was a great moment. It was a great moment because it wasn’t just for me ... The Divergent actress could not control her tears when she revealed ...
