The book offers a fresh insight into the core drivers of long-term economic growth. Traditional explanations for the wealth of nations point to technical progress as the root cause of the triggering event: the industrial revolution. Recent research, carried out by the applicant and collaborators, suggests, however, that economic growth predates the industrial revolution by more than two centuries. The book argues that the onset of economic growth was prompted by 16th- and 17th-century working-class people who allocated increasingly more time to work and invested a growing share of resources in their children͛s education. Both features, central to the western world's road to riches, are strikingly absent in today͛s poorest countries. The book draws lessons from the historical experience of the west on how to end third-world poverty today.
|Effective start/end date||01/01/2019 → 31/12/2019|