Growth in production (jan 1, 1801 – jan 1, 1990)

Description:

1820 - 1990: western countries: seventyfold growth in produced value of goods and services, fivefold growth in population
and fourteenfold growth in income per capita, in addition to a fifty percent reduction of working hours and a twofold increase in life expectancy

-increasing number of newly established countries and advancement of democratic systems.
-development of modern technologies as a result of scientific and technical revolution.
- several technological waves
the first wave: introduction of the steam engine,
the second with the use of electricity and
the third (post- war) wave is defined by computers and biotechnologies.

-the state has bee increasingly playing a significant role in development of national economy.

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