The Prosperity Apps

September 27, 2011 at 4:26 pm | Posted in Economoney, History, Humor | Leave a comment

A great TED talk by Scotsman Niall Ferguson on western history, what created the Great Divergence (in affluence between east and west), and why prosperity was such a western phenomena.

He credits 6 core ideas:
1 – Competition
2 – The Scientific Revolution
3 – Property Rights
4 – Modern Medicine
5 – A Consumer Society (to drive the economy)
6 – The Work Ethic

He demonstrates that the Great Divergence is over. Are we going to learn the lessons of history? This is not to say we shouldn’t seek a moderate way. But are we willing to lose our comfort and prosperity by being blind to what got us here? And will other countries trying to emulate the west succeed if they leave some out?

PS – see Why You’re Not Rich as a counterpoint with current preoccupations.

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