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Business & Finance - How the World Became Rich: The Historical Origins of Economic Growth

Description

Book Synopsis: 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.

Details

Unlock the secrets behind the unprecedented wealth of the modern world with "How the World Became Rich: The Historical Origins of Economic Growth." In this enlightening book, Mark Koyama and Jared Rubin explore the theories and factors that contributed to the immense economic growth experienced in recent centuries. From geography to politics, culture to colonialism, this book covers it all.

Delve into the intriguing theories that shed light on why the Industrial Revolution ignited in 18th-century Britain and how other countries like the US, Japan, and select European nations caught up in the 19th century. Uncover the reasons behind the delayed economic growth in certain regions and why some countries are still struggling to catch up even in the present day.

Koyama and Rubin's compelling arguments reveal that understanding the past is essential for charting a path towards prosperity. By examining the prerequisites and common elements shared by successful economies, this book offers invaluable insights into how countries can escape poverty. While there may not be a one-size-fits-all solution, the society's history, institutions, and culture undoubtedly shape its developmental trajectory.

Don't miss out on this opportunity to unravel the mysteries of economic growth and gain a profound understanding of the road to riches. Unlock the secrets today and empower yourself with the knowledge to pave the way for a prosperous future.

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