Summary of Mark Koyama & Jared Rubin's How the World Became Rich , livre ebook

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32 pages

English

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Please note: This is a companion version & not the original book.
Sample Book Insights:
#1 The world is rich. The world is richer than it has ever been, and it continues to grow richer with each passing day. Extreme poverty is in rapid decline, and will be completely eradicated within our lifetime.
#2 The world has grown wealthier over the last century, and more and more of it has been able to move past the edge of subsistence. This is not just because there is less absolute poverty, but because more people are able to afford the basics of life.
#3 The last two centuries have seen more economic growth than the rest of human history combined. Economic growth refers to a sustained increase in economic prosperity as measured by the total goods and services produced in the economy.
#4 The world economy has grown over time, and this has alleviated a vast majority of poverty worldwide. However, there were periods of economic improvement that were due to political pacification, such as the Pax Islamica over large parts of the Middle East, North Africa, and Iberian Peninsula in the centuries following the spread of Islam.

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Business

Economics

Economic History

Islam

Informations

Publié par	Everest Media LLC
Date de parution	24 juillet 2022
Nombre de lectures	0
EAN13	9798822547209
Langue	English
Poids de l'ouvrage	1 Mo

Informations légales : prix de location à la page 0,0000€. Cette information est donnée uniquement à titre indicatif conformément à la législation en vigueur.

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Insights on Mark Koyama & Jared Rubin's How the World Became Rich
Contents Insights from Chapter 1 Insights from Chapter 2 Insights from Chapter 3
Insights from Chapter 1

#1

The world is rich. The world is richer than it has ever been, and it continues to grow richer with each passing day. Extreme poverty is in rapid decline, and will be completely eradicated within our lifetime.

#2

The world has grown wealthier over the last century, and more and more of it has been able to move past the edge of subsistence. This is not just because there is less absolute poverty, but because more people are able to afford the basics of life.

#3

The last two centuries have seen more economic growth than the rest of human history combined. Economic growth refers to a sustained increase in economic prosperity as measured by the total goods and services produced in the economy.

#4

The world economy has grown over time, and this has alleviated a vast majority of poverty worldwide. However, there were periods of economic improvement that were due to political pacification, such as the Pax Islamica over large parts of the Middle East, North Africa, and Iberian Peninsula in the centuries following the spread of Islam.

#5

The main difference between rich and poor countries is not that rich countries grow fast during their periods of growth. What distinguishes rich countries is that they have not experienced growth reversals. Sustained economic growth has been accompanied by a dramatic reorganization of society and production.

#6

In the developed world, the structure of the economy is different. Agriculture has shrunk both as a proportion of the total economy and as a source of employment. Instead, the majority of people work for long-lived organizations independent of the state.

#7

There are many ways to measure past economies, such as GDP, wages, and prices. The increase in average height between 18 year old soldiers in the English army between 1763 and 1767 and today is a reflection of the improvements in nutritional standards that have accompanied modern economic growth.

#8

The final measure of the standard of living is life expectancy. Modern economic growth is associated with large increases in life expectancy, which is a significant component of the additional welfare brought about by economic growth.

#9

The first half of the book classifies and surveys the major strands of literature related to the origins of sustained economic growth: geography, politics, institutions, markets and states, culture, human capital, demography, and colonization. Some explanations fall into multiple categories.

#10

The origins of modern economic growth is not a simple matter. Some theories try to explain the role that institutions played in economic growth, but it is difficult to answer where institutions come from. They may come from geographic conditions, or they may be the result of culture.

#11

The most convincing explanations for the onset of industrialization and modern economic growth focus on the link between economic and political development. These explanations touch on topics like institutional change, the growth of state capacity, and the rule of law.

#12

There are many different theories that explain how the world became rich, and we believe all of them have some merit. What is most important is understanding the conditions under which certain causes are important and the conditions under which they are not.

#13

The goal of this book is to present all of the major arguments on how the world got rich in a fair-minded manner. We do not spend much time discussing the drawbacks to economic growth such as pollution, climate change, and the capacity to create deadly weapons.
Insights from Chapter 2

#1

The idea that locations with good characteristics are destined to be more developed has been around for a long time. Diamond’s (1997) study of Japanese urban development after World War II found that complete destruction of a city was not enough to overcome its intrinsic geographic advantages.

#2

The importance of geography for economic development is especially evident in the poorest parts of the world. Many countries in sub-Saharan Africa are landlocked, and most others have only a small amount of coast.

#3

Geographic explanations for economic growth are difficult to test because geography is largely unchanging. It is not easily changed, and it is difficult to explain why some regions were much more developed in 1000 than Western Europe was by 1800.

#4

Diamond’s theory is that the relative height and length of the Eurasian, African, and American continents had a deep impact on long-run development. Vertically aligned continents contain numerous microclimates, which limit the spread of crops, domesticated animals, and people.

#5

Diamond’s arguments about the diffusion of technologies across regions have been supported by empirical research. In Figure 2. 4, which maps how close to the technological frontier different parts of the world were in 1500, it is clear that the east–west axis was more advanced than the north–south axis or the sub-Saharan Africa north–south axis.

#6

Geography is an important determinant of market size today. It was even more important in the pre-industrial period, when it was difficult to transport goods and people. Access to navigable waterways was a clear advantage.

#7

The Roman Climatic Optimum was a period of warmer weather that allowed Romans to expand the cultivation of Mediterranean crops inland into mountainous terrain. The passing of the Roman Climatic Optimum was associated with political crises. Periods of lower rainfall were associated with military mutinies and imperial assassinations.

#8

The Roman Empire built a road system that connected its landlocked cities with the Roman lake that was the Mediterranean Sea. The road system was built for military reasons, but it played a crucial role in knitting the empire together economically and culturally.

#9

Transport infrastructure is also important for economic growth. The Roman Empire, for example, built a massive road network that greatly aided in the distribution of terra sigillata, a red-gloss tableware made out of clay.

#10

The transportation revolution in Britain was led by the railway, which was ten times faster than stagecoach travel in 1700. The canal network was also improved, and waterborne transport was much more cost-efficient than road transport.

#11

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Summary of Mark Koyama & Jared Rubin's How the World Became Rich , livre ebook

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