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

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

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

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It explores the impact of historical events, such as economic crises or significant technological advancements, on long-term economic growth trajectories. Incomes will rise in the short run, but over time people will have more babies and those babies will eat up all the economic surplus. If we can collect and catalog enough consistent findings, we can still describe the causal forces underlying the historical process, even if we don’t have a truly unified theory of development. The book has been written to explore the factors that have contributed to economic growth since the Industrial Revolution, spanning centuries of history and encompassing various aspects such as technological advancements, global trade, capitalism, access to natural resources, human capital development, political stability, and financial systems.

That helps explain why critics like William Blake and Karl Marx were so fiercely critical of the industrialization process. Economic growth is intricately linked to various geographic factors, such as resource access, spatial trade patterns, and wealth distribution. Its suitability for students studying economics and other social sciences, including geography, can be attributed to several factors. On the one hand, the sugar economy boomed in the 17th and 18th centuries, and cotton was the major input into the textile factories at the center of Britain’s industrialization.

Instead, the authors demonstrate how wealth is created through factors including institutions, the rule of law and property rights. For example, it explores how social factors such as income inequality, education, and healthcare and political factors such as governance and institutions play significant roles in economic growth.

The book’s strengths lie in its comprehensive coverage, clear explanations, integration of multiple perspectives, use of real-world examples, consideration of historical context and long-term trends, accessibility, and acknowledgement of social and environmental implications.Additionally, the book’s recognition of social and environmental implications provides a more comprehensive analysis of economic growth.

A society’s past and its institutions and culture play a key role in shaping how it may – or may not – develop.Growth might continue to stagnate, but this will be because of institutional failures and not some inherent features of the growth process. He has been a Postdoctoral Associate and Lecturer at New York University--Abu Dhabi and a Visiting Scholar at the University of Bordeaux. This is effectively a readable textbook…Rubin and Koyama synthesize all this literature and discuss five major ways to explain the Great Divergence: geography, demography, imperialism, culture and institutions.

It explores various factors, including technological advancements, trade, capitalism, resources, human capital, governance, and finance. This book is perhaps the first book to extensively survey recent trends in the economic history academic literature.In addition, they shed light on the interplay between political, social, and economic factors and their impact on long-term growth. During Britain’s early period of industrialization, its population grew rapidly enough to keep wages down. Some books may adopt a singular perspective, focusing solely on specific factors or economic theories.

  • Fruugo ID: 258392218-563234582
  • EAN: 764486781913
  • Sold by: Fruugo

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