The West has dominated wealth creation since the Industrial Revolution. It sure feels like the dawn of the twenty-first century is revealing a shift of some sort. Could this be the end of the West's dominance of the global economy? If it is, in what ways is that a bad thing for the global economy? And what lessons might China, India, Brazil, and other rising economies take from the last 200 years?
The often-provocative Niall Ferguson tries to tackle the question of how the "Great Divergence" came about. In this Ted Talk, Ferguson outlines what he calls "killer apps," that set the course for the West's unrivaled rise of prosperity:
Posted
09-28-2011 12:45 PM
by
Graham Griffith
Filed under: global economy, economic history, Wealth of Nations, Adam Smith, prosperity, Industrial Revolution, prosperity and the west, niall ferguson, wealth creation western dominance, imperialism, production manufacturing