From the late eighteenth century, Europe started rising to the top of the world. The first industrial revolution in Britain gradually spread over the continent and the first important steps of a second industrial revolution, partly by Germany, were made after the middle of the nineteenth century. By 1870, Europe produced 45 per cent of the world’s total income. Around the turn of the century, however, Europe lost its leading position, and produced only 27 per cent of the world’s total income by 1913. The combined per capita gross domestic product (GDP) of the overseas West (the United States, Canada, Australia and New Zealand) was already more than 70 per cent higher than that of western Europe.