On this side of history, it may seem that the United States of America has been the leading economic powerhouse for most of human history. However, a closer inspection shows that this is not the case.
Our perspective gets skewed because we only look at current events and recent history, when in fact, empires rise and fall with great frequency. Here are the top five most powerful economic empires of all time.
- The Roman Empire
The Roman Empire was by far the most powerful economic empire to have ever existed. The size and scope of their economy were so great that it still has not been matched in the almost 2000 years since its collapse.
When Rome reached its height during the first and second centuries CE, a staggering 25% to 30% of global output was produced within the boundaries of the Roman Empire, more than any other area in human history.
- The Song Dynasty in China
The Song Dynasty of China is often overlooked, but its economy still dwarfed that of any nation on Earth until around 1800 CE.
At its height during the 11th and 12th centuries CED, the Song era accounted for around 20% of global output, the largest of any pre-industrial era civilization.
- Mughal Empire in India
The Mughal Empire, which existed between 1526 and 1707 CE, is considered by many to have been the most powerful empire in India since the time of the Guptas.
Comparable to Ming Dynasty China at its height, it accounted for 15% to 18% of global GDP, on par with Song-era China.
- The British Empire
As is true of many modern empires, the British Empire was more economical than a territorial empire. From around 1815 to 1900 CE, Britain maintained nearly half of the global GDP with less than 0.5% of the world’s population.
- The United States of America:
The USA is the only current empire on this list, but it will continue to slip down the rankings as economic power shifts towards nations in Asia. It maintains around 20% of global GDP today, more than double that of its nearest rival, China.