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Lecture held in English
Prof. Andreas Irmen
Full professor of Macroeconomics and applied Microeconomics
Faculty of Law, Economics and Finance
Department of Economics and Management
For most of human history, the world’s population was equally poor. The sustained increase in living standards is a recent phenomenon. It affected some countries earlier than others, leading to huge discrepancies in the living standards across countries. The time span from 1950 to today is likely to be the greatest period of poverty alleviation in world economic history. Yet, economic growth tends to peter out in the rich countries. Environmental degradation, world population growth, new technologies and a changing geopolitical landscape are key determinants of future living standards and their geographical distribution.