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 US, 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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