Attitude and Economic Growth: Why Certain Countries Prosper While Others Fail


farewell.gifGregory Clark’s new book, A Farewell to Alms: A Brief Economic History of the World asks some pretty big economic questions:

– Why do certain countries prosper while others find it so difficult to grow?

– Why did the Industrial Revolution occur in England during the 17th century?

– How do cultural attitudes play a role in economic development?

Clark also challenges modern day economists to better understand history and I couldn’t agree with him more. After all, economics is not just about number crunching, hedging, banking, international trade, etc., rather the field is also about understanding current economic conditions in relation to what has happened in the past. 

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