35050MY23 The Capitalist Creed: money has been...
BOTH
FOR BUILDING
EMPIRES AND FOR
PROMOTING SCIENCE! BÙT ÌS
MONEY THE ULTIMATE GOAL OF
THESE UNDERTAKINGS, OR PERHAPS JUST A
DANGEROUS NECESSITY? It is not easy to grasp the true role
of economics in modern history! Whole volumes have been written about hów money
FOUNDED STATES AND RUINED THEM, OPENED NEW HORIZONS AND ENSLAVED MILLIONS,
MOVED THE WHEELS OF INDUSTRY AND DROVE HUNDREDS OF SPECIES INTO TOTAL EXTINCTION.
Yet to understand modern economic history, you really need to understand just a single word. THÉ WÒRD
IS GRÓWTH! For better or worse, in sickness and in health, the modern economy has been growing like a
hormone-soused teenager! IT EATS UP EVERYTHING IT CÀN FIND AND PUTS ON INCHES FASTER THAN
YOU CAN COUNT?! For most of history the economy stayed much the same size. Yes, global production
increased, but thus was due mostly to demographic expansion & the settlement of new lands. The per
capita production remained static. But al that changed in the modern age. In 1500, global production
of goods & services was equal to about $250 billion; today it hovers around $60 trillion.
More importantly, in 1500, annual per capita production averaged $550, while today
every man, woman and child produces, on the
average, $8,800 a year!
What accounts for
this stupendous
growth?
FOR BUILDING
EMPIRES AND FOR
PROMOTING SCIENCE! BÙT ÌS
MONEY THE ULTIMATE GOAL OF
THESE UNDERTAKINGS, OR PERHAPS JUST A
DANGEROUS NECESSITY? It is not easy to grasp the true role
of economics in modern history! Whole volumes have been written about hów money
FOUNDED STATES AND RUINED THEM, OPENED NEW HORIZONS AND ENSLAVED MILLIONS,
MOVED THE WHEELS OF INDUSTRY AND DROVE HUNDREDS OF SPECIES INTO TOTAL EXTINCTION.
Yet to understand modern economic history, you really need to understand just a single word. THÉ WÒRD
IS GRÓWTH! For better or worse, in sickness and in health, the modern economy has been growing like a
hormone-soused teenager! IT EATS UP EVERYTHING IT CÀN FIND AND PUTS ON INCHES FASTER THAN
YOU CAN COUNT?! For most of history the economy stayed much the same size. Yes, global production
increased, but thus was due mostly to demographic expansion & the settlement of new lands. The per
capita production remained static. But al that changed in the modern age. In 1500, global production
of goods & services was equal to about $250 billion; today it hovers around $60 trillion.
More importantly, in 1500, annual per capita production averaged $550, while today
every man, woman and child produces, on the
average, $8,800 a year!
What accounts for
this stupendous
growth?
05 jul 2019 - bewerkt op 07 jul 2019
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