The World Has Changed Over The Past 300 Years - 1267 Words

Our world has changed dramatically over the past 300 years. We have colonized countries once uncharted, we have go through incredible technological advancements, and our world has become more and more globalized. All these factors have contributed to the ever changing composition of wealth. Britain and France have seen similar trajectories in terms of wealth composition over the past 300 years. For both countries, the main source of wealth 300 years ago was farmland. It represented two thirds of the national income or 4 to 5 years the national income. 300 years later the value of farmland dropped dramatically. Representing only 105 of national income and 2% of national wealth. Agriculture in both countries is no longer considered an important part of the economy. This trend has been partly caused by the ever increasing population, as well as an industrialization period that pushed the citizens away from their rural lives, into more urban city living. Wealth in these two countries, which was once heavily dependent on agriculture, has now shifted to other factors. Today the two main things that compose wealth in these countries are domestic capital and housing. The average national income in present day France and Britain is equal to roughly 30,000 euros. The national wea lth is equal to six times that, or 180,000 euros. This wealth is divided equally between housing and other domestic capital. Domestic capital includes investment and stocks. Farmland is virtually worthlessShow MoreRelatedThe Professional Golf Association Of America1037 Words   |  5 PagesThe Professional Golf Association of America is the largest sports organization in the world. The association is made of 28,000 professionals who are recognized experts in teaching and developing the game of golf. The PGA was founded in 1916. It is known to hold premier events such as the PGA Championship, Ryder Cup, Senior PGA Championship as well as the PGA Grand Slam of Golf. 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