I have had several engagements in which senior officers of a nation-state were seeking advice on how to grow and deepen its economy. I wish there was a simple formula, like “free up your markets,” or “more education.” But there isn’t. Pulling the general population out of poverty is not simple. Give food, and farmers are hurt. More modern medicine means a higher birth rate and more unemployment. Does free college education for the many help?
An excellent synthesis of nearly 250 years of relentless technical, scientific, legal and economic development. Many of the above-mentioned facts are already known, but lacked an encompassing framework to make them function together, with seemingly multiplicative effects. Maybe we can add one feature or two, such as a reliable accounting system. This helped northern Italy enjoyed properity and innovation during the early Renaissance. Mikolaj Kopernik moved to Florence, and Amerigo Vespucci was active there. A new World was to be discovered, in which the second Industrial Revolution would eventually take place four centuries after (circa 1903-1973). Best Regards