Upload

Loading...

Why Does 1% of History Have 99% of the Wealth? | Learn Liberty

95,526

Loading...

Loading...

Transcript

The interactive transcript could not be loaded.

Loading...

Loading...

Rating is available when the video has been rented.
This feature is not available right now. Please try again later.
Published on Apr 29, 2014

Throughout the history of the world, the average person on earth has been extremely poor: subsisting on the modern equivalent of $3 per day. This was true until 1800, at which point average wages—and standards of living—began to rise dramatically. Prof. Deirdre McCloskey explains how this tremendous increase in wealth came about. In the past 30 years alone, the number of people in the world living on less than $3 per day has been halved. The cause of the economic growth we have witnessed in the past 200 years may surprise you. It's not exploitation, or investment. Innovation—new ideas, new inventions, materials, machinery, organizational structures—has fueled this economic boom. Prof. McCloskey explains how changes in Holland and England in the 1600s and 1700s opened the door for innovation to take off—starting the growth that continues to benefit us today.

► Learn More:

The first three chapters of Prof. McCloskey's book on this topic can be found here:
http://siteresources.worldbank.org/DE...

► For resources, transcripts, videos, and more visit: http://www.learnliberty.org/videos/wh...

http://LearnLiberty.org
http://twitter.com/LearnLiberty
http://google.com/+LearnLiberty
http://facebook.com/LearnLiberty
http://youtube.com/user/LearnLiberty

  • Category

  • License

    • Standard YouTube License

Loading...

When autoplay is enabled, a suggested video will automatically play next.

Up next


to add this to Watch Later

Add to

Loading playlists...