We measure technological progress in oceanic shipping by using a large database of daily log entries from ships of the British and Dutch navies and East India Companies to estimate daily sailing speed in different wind conditions from 1750 to 1850. Against the consensus, dating back to North...

How should the world economy adapt to the increased demand for exhaustible resources from countries like China and India? To address that issue, this paper presents a dynamic model of the world economy with two technologies for production; a resource technology which uses an exhaustible resource...