From a millennial perspective, the major socio-economic phenomenon is the stagnation of growth until 1820
Population and income growth have been based on conquest, colonization, technological and institutional innovation, trade and investment.
From 1820, a period of exponential growth began, interrupted by the Great Recession.
Since the beginning of the 20th century: growth concentrated in some fifteen countries and interrupted by the Great Depression
For two decades:
Exceptional growth and income concentration among top 1% income groups
winners and losers structure the elephant curve
a new period of so-called secular stagnation