Bourgeois Dignity and Liberty: Why Economics Can’t Explain the Modern World
July 7th, 2009Navigation to all parts of Bourgeois Dignity and Liberty: Why Economics Can’t Explain the Modern World
Part I. “The Tide of Innovation: 1700-Present”
July 7th, 2009Two centuries ago the world’s economy stood at the present level of Chad or Bangladesh. In those good old days of 1800, further, on past form the average person in Norway or Japan would have had less rational hope than a Chadian or Bangladeshi does nowadays of seeing in a couple of generations the end of such poverty. In 1800 the average human consumed in modern-day prices, fully corrected for exchange rates, roughly $3 a day, give or take a dollar or two. That’s $3 a day in present money to live now in, say, Los Angeles. … [continues; click title above]
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