How the World Became Rich: The Historical Origins of Economic Growth - Mark Koyama, Jared Rubin
Shared by:XavierOnline
Most humans are significantly richer than their ancestors. Humanity gained nearly all of its wealth in the last two centuries. How did this come to pass? How did the world become rich?
Mark Koyama and Jared Rubin dive into the many theories of why modern economic growth happened when and where it did. They discuss recently-advanced theories rooted in geography, politics, culture, demography, and colonialism. Pieces of each of these theories help explain key events on the path to modern riches. Why did the Industrial Revolution begin in 18th-century Britain? Why did some European countries, the USA, Canada, and Japan catch up in the 19th century? Why did it take until the late 20th and 21st centuries for other countries? Why have some still not caught up?
Koyama and Rubin show that the past can provide a guide for how countries can escape poverty. There are certain prerequisites that all successful economies seem to have. But there is also no panacea. A society’s past and its institutions and culture play a key role in shaping how it may–or may not–develop.
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| Creation Date: | Mon, 23 Jan 2023 06:55:13 +0100 |
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This post has 5 comments with rating of 4/5
January 23rd, 2023
Good stuff. Mutually beneficial trade & functioning markets seem to do the trick. If a country can foster democratic liberties, property rights & the rule of law, then that will create the necessary environment to cultivate wealth, innovation & greater living standards.
Of course, we’ve seen destructive movements towards ideological regression also. Constant vigilance, baby.
January 23rd, 2023
thank you !
January 23rd, 2023
Thank you Xavier. Shall be very interesting.
January 23rd, 2023
They left out the part where resources were (and still are) extracted from Africa/the Middle East/Latin America to “Western” nations. First through plundering, pillaging, and colonialism; and now through neocolonialism - companies extracting resources from Africa with companies/corporations instead of military presence. Elites controlling governments through the guise of native leadership, but corruption is worldwide in every nation, labeling this as specific to brown/black people is foolish and racist.
But I expect this comment to ruffle feathers because this is a truth that conflicts with mass subconscious programming after almost a millennium of the world economy running on black slavery. So in order for the majority to sleep at night in comfort and prosperity, they dehumanize people of color by controlling the narratives about them/wiping away their history physically with force or in their accounts of historical records. “History is written by the victors”
January 24th, 2023
No ruffles at all. As you say, exploitation by all systems is a serious problem. Disadvantaged countries ought also to have fundamental democratic liberties, guaranteed property rights & the rule of law. Foreign aid is not sufficient on its own; nor is making it conditional on the countering of appalling corruption in these states. The distribution & cultivation of wealth, innovation & greater living standards, facilitated by mutually beneficial trade & functioning markets, added to the safeguarding of the natural environment, remains essential.
We must love one another, or die.
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