I found surprising that the author totally misses the role of financial capitalism of private bankers lending money to entrepreneurs as a catalyst of inovation.

I found surprising that the author totally misses the role of financial capitalism of private bankers lending money to entrepreneurs as a catalyst of inovation. Both Gutenberg and James Watt themselves didn't have the money to start their ventures, they were supported and financed by their contemporary versions of venture capitalists. This is something that was quintessential European and didn't exist in other parts of the world, from the Medici in Tuscany to the Dutch East India Company, stock markets, double entry accounting, private banks, etc. Even within parts of Europe, the lack of financial capitalism, private bankers and the rule of the law was the main reason many regions didn't have strong manufacturing prior to late 19th century, e.g.: Spain, Portugal, Greece, etc.