irregular, but sometimes fast growth 1840-1860: fast growth; 1860-1882: slowing down; 1882-1896: stagnation; 1896-1913: fast growth For the 1870-1913 era, Angus Maddison gives growth rates for 12 Western advanced countries—10 in Europe plus the United States and Canada. In terms of per capita growth, France was about average. However again its population growth was very slow, so as far as the growth rate in total size of the economy France was in next to the last place, just ahead of Italy. The 12 countries averaged 2.7% per year in total output, but France only averaged 1.6%. Crouzet argues that the average size of industrial undertakings was smaller in France than in other advanced countries; that machinery was generally less up to date, productivity lower, costs higher. The domestic system and handicraft production long persisted, while big modern factories were for long exceptional. Large lumps of the Ancien Régime economy survived...On the whole, the qualitative lag between the British and French economy...persisted during the whole period under consideration, and later on a similar lag developed between France and some other countries—Belgium, Germany, the United States. France did not succeed in catching up with Britain, but was overtaken by several of her rivals. French Revolution "The French Revolution abolished many of the constraints on the economy that had emerged during the old regime. It abolished the guild system as a worthless remnant of feudalism." It also abolished the highly inefficient system of tax farming, whereby private individuals would collect taxes for a hefty fee. The government seized the foundations that had been set up (starting in the 13th century) to provide an annual stream of revenue for hospitals, poor relief, and education. The state sold the lands but typically local authorities did not replace the funding and so most of the nation's charitable and school systems were massively disrupted. The economy did poorly in 1790-96 as industrial and agricultural output dropped, foreign trade plunged, and prices soared. The government decided not to repudiate the old debts. Instead, it issued more and more paper money (called an "assignat") that supposedly were grounded seized lands. The result was escalating inflation. The government imposed price controls and persecuted speculators and traders in the black market. People increasingly refused to pay taxes as the annual government deficit increased from 10% of gross national product in 1789 to 64% in 1793. By 1795, after the bad harvest