M Koyama
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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In the last two centuries, humanity has gained nearly all of its wealth, with theories explaining why modern economic growth happened when and where it did. Koyama and Rubin discuss recently advanced theories rooted in geography, politics, culture, demographics, and colonialism, and show that the past can provide a guide for how countries can escape poverty, but there is no panacea.
Format: Paperback / softback
Length: 240 pages
Publication date: 25 March 2022
Publisher: Polity Press
The majority of humans today possess significantly greater wealth than their ancestors. Over the past two centuries, humanity has accumulated an immense fortune. The question arises: how did this remarkable transformation occur? How did the world transition into a state of affluence? To explore these questions, Mark Koyama and Jared Rubin delve into a diverse range of theories that shed light on the timing and location of modern economic growth. They examine recently developed theories rooted in geography, politics, culture, demographics, and colonialism, each contributing to an understanding of key events that shaped the path to contemporary riches.
Beginning in the 18th century, Britain witnessed the onset of the Industrial Revolution, marking a pivotal moment in global economic history. Why did this revolution originate in Britain, while other European countries, the United States, and Japan lagged behind? Why did it take until the late 20th and early 21st centuries for other countries to catch up? These questions are central to Koyama and Rubin's analysis.
They demonstrate that the past holds valuable lessons for countries seeking to escape poverty. While there are certain prerequisites that all successful economies seem to share, there is no single solution or panacea. The past, including a society's history, institutions, and culture, plays a crucial role in shaping its potential for development.
In conclusion, Koyama and Rubin's book offers a comprehensive exploration of the factors that contributed to modern economic growth and the challenges faced by countries in their pursuit of prosperity. By examining the theories and historical events, they provide insights into the complex dynamics that shape economic development and offer a roadmap for countries seeking to overcome poverty and achieve sustainable growth.
Weight: 396g
Dimension: 233 x 155 x 22 (mm)
ISBN-13: 9781509540235
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