June 2, 2018

hISTORY eNDS EVERYWHERE:

The Most Important Thing that the New York Times Left Out (Marian L. Tupy and Chelsea Follett | @HumanProgress)

The Homo sapiens has been on this earth for 200,000 years. For 99.9 percent of that time, we lived in ignorance, poverty and misery. What has changed? Reading the NYT, the reader is left with the impression that "good stuff," like manna from heaven, suddenly was conjured up out of thin air. 

Not so. The key to the improvements in the lives of ordinary people over the last 200 years were industrialization and trade, which generated historically unprecedented rates of growth. And the importance of growth cannot be overemphasized. There is not a single example of a country emerging from widespread poverty without sustained economic growth. As University of Oxford Professor Paul Collier writes, "Growth is not a cure-all, but lack of growth is a kill-all." 

Posted by at June 2, 2018 2:01 PM

  

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