Koyama and Rubin claim that modern economic growth differs from previous periods of economic growth because:

Question

BlackTom AI · Accepted Answer

In addressing the prompt, I will first acknowledge the setup: the question asks how Koyama and Rubin characterize why modern economic growth differs from earlier growth periods. The provided data includes only one proposed option and an empty set of answer choices, so there is no full list to compare.

Option provided: 'Modern economic growth is sustained over the long-term without a reversal.'

Analysis of this option: This statement asserts that the distinguishing feature of modern growth is its long-run persistence with no reversal. Interpreting this claim in the context of Koyama and Rubin (and related literature), a key contrast often drawn is that modern growth exhibits sustained increases in GDP per capita over extended periods, driven by mechanisms such as technological progress, accumulation of human and physical capital, and institutional factors that support continued growth. The idea of persistence without reversal aligns with empires of modern growth where growth is not periodically interrupted by long stagnations or collapses. However, to evaluate its accuracy, one would need to consider whether the authors explicitly claim that modern growth uniquely lacks reversals, as opposed to emphasizing its length, stability, or structural drivers. If their emphasis is on long-term persistence and the capacity to avert regressions (e.g., through continuous technological advancement and favorable institutions), then this option would be capturing a core contrast with earlier growth episodes that experienced more frequent downturns or reversals.

Why this option might be correct: It highlights the defining contrast of modern growth—its durability over extended horizons and relative resilience to reversal—compared to earlier periods where growth could be choppy or temporary. If Koyama and Rubin stress sustained progress and the absence of recurrent collapses as a hallmark, this statement would be consistent with that narrative.

Why this option might be incomplete or problematic: The phrase 'without a reversal' can be overly strong; historical growth episodes prior to the modern era sometimes featured decadal or even multi-decadal downturns, but not necessarily absolute absence of any reversal in all contexts. Moreover, the authors might attribute the difference to specific mechanisms (e.g., endogenized technology, institutions, human capital) rather than simply the persistence feature. Without the full set of options, it is also possible that other statements would address underlying mechanisms or timing, which could be equally or more precise.

In the absence of the other options, it is difficult to determine whether this statement fully captures Koyama and Rubin’s intended contrast. If your goal is to determine the best answer among a full list, I would need the missing answer options to compare and contrast them properly.

Summary thought: The proposed option emphasizes long-run persistence as the distinguishing feature of modern growth. If the authors frame modern growth primarily as sustained, durable progress with resilience to reversals, this aligns with the core idea. However, without the complete set of alternatives, we cannot definitively confirm its correctness relative to other possible statements the authors might provide.

25W-INTL DV-130-LEC-1 2/6 Midterm exam - Requires Respondus LockDown Browser

Koyama and Rubin claim that modern economic growth differs from previous periods of economic growth because:

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