The birth of plenty : how the prosperity of the modern world was created

“Compact and immensely readable . . . a tour de force. Prepare to be amazed.” — John C. Bogle, Founder and Former CEO, The Vanguard Group “Vital—a cogent, timely journey through the economic history of the modern world.” — Publishers Weekly In The Birth of Plenty , William Bernstein, the bestselling author of The Four Pillars of Investing, presents his provocative, highly acclaimed theory of why prosperity has been the engine of civilization for the last 200 years. This is a fascinating, irresistibly written “big-picture” work that highlights and explains the impact of four elements that when occurring simultaneously, are the fundamental building blocks for human progress: Property rights, which drive creativity Scientific rationalism, which permits the freedom to innovate without fear of retribution; Capital markets, which provide funding for people to pursue their visions; Transportation/communication, which allows for the effective transfer of ideas and products. Meticulously researched, splendidly told, and featuring a new preface and introduction, The Birth of Plenty explains the interplay of the events, philosophies, and related phenomena that were nothing less than the crucible of the modern age. This is one of the rare books that will change how you look at the world. "The Birth of Plenty suggests - and supports with groundbreaking analysis - that from the dawn of recorded history through 1820, the "mass of man" experienced essentially zero growth, both in economic standing or living standards. It was only in the nineteenth century that the world's standard of living began to inexorably and irreversibly improve and the modern world was born." "The Birth of Plenty frames the modern world's prosperity - or, in far too many cases, continuing lack of prosperity - in terms that are ingenious yet simple, complex yet easily understood. Entertaining and provocative, it will forever change the way you view the human pursuit of happiness and bring the conflicts of both the world's superpowers and developing nations into a fascinating and informative new light."--Jacket **"Compact and immensely readable . . . a tour de force. Prepare to be amazed." — John C. Bogle, Founder and Former CEO, The Vanguard Group "Vital—a cogent, timely journey through the economic history of the modern world." — __Publishers Weekly__** This is a fascinating, irresistibly written "big-picture" work that highlights and explains the impact of four elements that when occurring simultaneously, are the fundamental building blocks for human progress: - Property rights, which drive creativity - Capital markets, which provide funding for people to pursue their... "Compact and immensely readable . . . a tour de force. Prepare to be amazed." John C. Bogle, Founder and Former CEO, The Vanguard Group Bernstein is widely respected as author of the bestseller, The Intelligent Asset Allocator Identifies and explains the four conditions necessary for human progress An hypothesis of wealth Property Reason Capital Power, speed, and light Synthesis of growth The winners : Holland and England Runners-up The last God, culture, mammon, and the hydonic treadmill The great trade-off Mannon and Mars : the winner's curse The end of growth? When, where, and whither. Presents the current state of the global economy, and identifies the forces necessary for sustained growth-scientific rationalism, property rights, capital markets, and solid communications and transportation infrastructure. A provocative, highly acclaimed narrative of how prosperity has been the engine of civilization for the last 200 years.