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How the World Became Rich: The Historical Origins of Economic Growth

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Thus the impact of demography cannot be understood until one takes into account the pre-existing structure of institutions and class relations in a region. There's good work in poly sci (Mark Dincecco and Yuhua Wang) who I feel do a good job of matching constrained governance with state strength in a more cohesive story, and I'd like to see more work connecting this to economic growth.

Koyama and Rubin (2022) have produced a book that offers a detailed analysis of economic growth and its underlying factors. Indeed, if Britain was no less corrupt and no more democratic than her European rivals, what exactly were the institutional aspects of the British state that facilitated growth? However, the limitations are aspects of what makes the work valuable for those seeking to obtain an entry-level understanding of how wealth is created. Radical ideas, be they religious or secular, are much more appealing when there is little hope for a better future”.This integration of perspectives enriches the understanding of economic growth, allowing readers to explore the complexities and interdependencies that shape global growth. What can this history tell us about how wealth can spread to the rest of the world in the 21st century?

This chapter examines the broader trajectory of economic development after the Industrial Revolution.

The method by which Koyama and Rubin (2022) consider and incorporate the historical context and long-term trends is another notable aspect of the book. The authors recognize that many factors influence economic growth and acknowledge the importance of considering diverse viewpoints. It goes beyond a narrow focus on specific elements and provides a holistic understanding of the complex dynamics involved in wealth creation. It is the foundation that Adam Smith (1776) correctly but only partially attributed to the specialisation of industry. It explores various factors, including technological advancements, trade, capitalism, resources, human capital, governance, and finance.

The debate on the relationship between poverty and progress is at the core of this clear and wide-ranging analysis of the world's first industrialized nation. Economic historians have become more like empirical microeconomists, using historical data to create ‘natural experiments’…That spawned a new wave of literature over the following two decades, of which this book by Koyama and Rubin is really the most accessible and comprehensive introduction…So I think that this book is something incredibly novel in the economic history literature. Unlike ancient Rome, the medieval economy (outside of places like Florence) wasn’t especially commercialized or sophisticated. While it has limitations, the book is well-suited for a broad audience, including students, professionals, and general readers interested in understanding economic growth comprehensively. The book delves into various factors such as technological advancements, global trade, capitalism, access to natural resources, human capital development, political stability, and financial systems.

He has been a Postdoctoral Associate and Lecturer at New York University--Abu Dhabi and a Visiting Scholar at the University of Bordeaux. This will enable them to understand how economic systems impact the Environment and how geographic factors change economic outcomes (Alberti et al. The book's not perfect (I don’t even agree with that much of it), but the main points—pre-Soviet growth was limited and living standards/urbanization did rise under the Five-Year plans—are not really compatible with the more standard view (planning failed and was unsustainable) that the authors espouse. The authors cite Henriques and Palma ( 2020 ) to the effect that only after the Civil Wars did English institutions diverge from those of Spain and Portugal; but this result is incompatible with the “Atlantic traders” argument, which cites initially bad Spanish institutions for mishandling American resources.

Using concrete examples helps make the content more engaging and relatable, enabling readers to grasp the relevance and significance of the discussed topics. None of these causes explain why income became more broadly distributed by themselves; it was a combination of these factors that mattered. While this demonstrates that slavery made some individuals wealthy but did not change the path of the global economy, introducing the growing sense of Christian morality (Biggar, 2023) that was promoted through the British Empire would strengthen this section. There have been many such transformations in the last two centuries due to inventions such as the telegraph, locomotive, automobile, telephone, electrification, steam engine, and much more.In the second, lasting from about 10,000 BC to around 1750 AD, humans adopted agriculture, allowing for a more secure supply of food and leading to the establishment of towns, cities, even empires. Although an exhaustive list of all relevant literature is unavailable, a general evaluation can be made based on common characteristics and knowledge of pertinent works.

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