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What is the source, not only of recent economic volatility, but of the long slowdown in economic growth? The world’s per capita annual GDP increase fell from 3.6 percent during the 1960s, to 2.1 percent during the 1970s, to 1.3 percent during the 1980s to 1.1 percent during the 1990s followed by a rise to 2.5 percent for the first half of the 2000s (World Bank 2005, 297).
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