The Saturday Essay. How the West (and the Rest) Got Rich
by: Dierdre N. McCloskey
May 23, 2016
Click here to view the full article on WSJ.com
by: Dierdre N. McCloskey
May 23, 2016
Click here to view the full article on WSJ.com
TOPICS: Economic Growth
SUMMARY: The Great Enrichment of the past two centuries has one primary source: the liberation of ordinary people to pursue their dreams of economic betterment.
CLASSROOM APPLICATION: The article can prompt students to investigate the sources of innovation and economic growth, and in particular to begin to think about whether liberty, and equality of opportunity or equality of outcomes promotes economic growth.
QUESTIONS:
1. (Advanced) What factors provide the incentives for innovators and entrepreneurs to combine ideas in the creation of new products?
2. (Advanced) Distinguish equality of outcome from equality before the law and equality of social dignity. Which type of equality promotes innovation and economic growth?
3. (Introductory) What caused the Great Enrichment?
1. (Advanced) What factors provide the incentives for innovators and entrepreneurs to combine ideas in the creation of new products?
2. (Advanced) Distinguish equality of outcome from equality before the law and equality of social dignity. Which type of equality promotes innovation and economic growth?
3. (Introductory) What caused the Great Enrichment?
Reviewed By: James Dearden, Lehigh University
Here is the money quote: "The answer, in a word, is “liberty.”
Here is the money quote: "The answer, in a word, is “liberty.”
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