4 ms·
It's just that living conditions and average wealth has skyrocketed over the past couple hundred years. Deirdre McCloskey refers to it as the Great Enrichment:
by gnusty_gnurc 6y ago
It's just that living conditions and average wealth has skyrocketed over the past couple hundred years.
Deirdre McCloskey refers to it as the Great Enrichment:
> The rise in the liberal nations has been a stunning 3,000 percent at the least—or if one allows properly for improvements in quality, such as better medicine and better housing (and for that matter, better economics), more like 10,000 percent. A factor of 100. Goodness.
https://www.mercatus.org/bridge/commentary/great-enrichment https://www.mercatus.org/bridge/commentary/great-enrichment
- jessaustin 6y agoI also enjoy cherry-picking. Here's a different time period to consider: https://wtfhappenedin1971.com/ https://wtfhappenedin1971.com/
- creddit 6y agoA couple hundred years isn’t exactly cherry-picking wrt capitalism...
- FranzFerdiNaN 6y agoThat happened not because of capitalism but in spite of it. It happened because of technological development and rampant and ruthless exploitation of mostly foreign lands and people, and by stealing from future generations. It’s a terrible system that is constantly failing most people.
- AnimalMuppet 6y agoSure, not because of capitalism but it spite of it. It's just that, in places that didn't have capitalist economies, it didn't happen. Not to the same degree (with the possible exception of China, and even they are looking capitalist in practice).