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Quotation of the Day…

… is from page 193 of economic historian Gregory Clark’s 2007 book, A Farewell to Alms:

Around 1800, in northwestern Europe and North America, man’s long sojourn in the Malthusian world ended. The iron link between population and living standards, through which any increase in population caused an immediate decline in wages, was decisively broken. Between 1700 and 1860, for example, English population tripled. Yet real incomes, instead of plummeting, rose. A new era dawned.