Thanks LB...Most interesting article. Don't think I've read Postrel before, but will make it a point to do so.
Re the question, "What accounts for the wealth of nations...?"
Of course, many things, but personal, individual responsibility is one thing. And the ability or fortune to have leaders of the country with foresight, knowledge, integrity, honesty, and intuition as well. After all, finding a pretty rock in the desert won't feed anyone, even if it is a diamond, or gold. Taking it to a leader with the above qualities may help the individual convert the find into seeds, plows, water rights, etc so that that individual can eventually feed his family and the families of others.
Despite all the differences across time and space, Professor Mokyr says: "There are certain unifying themes that you see everywhere. People have to make a living. People would rather have more than to have less. On the whole, they don't behave stupidly. They do as well as they can under the circumstances. The variation is in the circumstances, in the richness and diversity of human economic institutions that have emerged over time." |
