Comparative Indian economic growth: 1870 to 1970.
分析1870至1970年印度人均收入变化，发现长期增长缓慢甚至下降，并与英国、美国等对比，探讨购买力平价对收入比较的影响。
In 1870 the Indian per capita income was about Rs. 30 compared to Rs. 450 for England. Studies of Indian national income show estimates of per capita income which show no gain or a small decline from 1879 to 1970. Estimates of .5% per annum growth seem high in light of recent analyses of Indian history. Indias decline suggests that rapid growth in other areas e.g. Japan Europe and the U.S. has had deleterious effects. The 1871-1911 growth rate was about .7% per year 1911-46 no growth and from 1947-70 about 1% per year. Population growth was 254 million in 1870 305 million in 1920 and 668 million in 1970 for India and Pakistan. Growth of real per capita income in constant prices are estimated at 1.00 in 1870 1.75 in 1970. In the U.S. in the same period the index may have moved from 1.00 to 5.70. Purchasing power estimates put India higher than comparisons based on exchange rates however. As countries grow the productivity in traded goods will tend to decline. The exchange rate is determined by the relative price of traded goods in a year. Since goods in the U.S. are relatively cheap Indias exchange rates look poorer than real terms of purchasing power equities. The perception of the extra resources required to equalize incomes between countries are different and much less when real incomes are compared.