1/ This reminds me that I have not published recently the Coyote theory of wealth creation. Just saying its "industrialization" is begging the question. Why didn't we have industrialization in, say, Ming China?
2/ My theory (which is not particularly original) is that it took two parallel trends -- one intellectual, and one political/social -- to ignite modern wealth creation 
3/ Trend A: There was a philosophical and intellectual change where questioning established beliefs and social patterns went from being heresy and unthinkable to being acceptable, and even in vogue.
4/ In other words, people, at first just the elite but soon everyone, were urged to use their mind rather than just relying on established beliefs and appeals to authority
5/ Trend B: There were social & political changes that greatly increased the number of people capable of entrepreneurship. Before this time, the vast majority of people were locked into social positions that allowed them no flexibility to act on a good idea, even if they had
one.
one.
6/ By starting to create a large and free middle class, first in the Netherlands and England and then in the US, more people had the ability to use their mind to create new wealth.
7/ Whereas before, perhaps 1% or less of any population really had the freedom to truly act on their
ideas, after 1700 many more people began to have this freedom.
ideas, after 1700 many more people began to have this freedom.
8/ So today's wealth, and everything that goes with it (from shorter work hours to longer life spans) is the result of more people using their minds more freely.
9/ Look around the world - for any country, ask yourself if the average person in that country has the open
intellectual climate that encourages people to think for themselves, ....
intellectual climate that encourages people to think for themselves, ....
10/ ...& the open political and economic climate that allows people to act on the insights their minds
provide & to keep the fruits of their effort. Where you can answer yes to both, you will find wealth and growth. Where you answer no to both, you will find poverty and misery.
provide & to keep the fruits of their effort. Where you can answer yes to both, you will find wealth and growth. Where you answer no to both, you will find poverty and misery.
