The Birth of Plenty: How the Prosperity of the Modern World was Created

by Bernstein, William J.

• ISBN13: 9780071421928
• ISBN10: 0071421920
• Format: Hardcover
• Copyright: 2004-03-23
• Publisher: McGraw-Hill

Summary

FROM THE BESTSELLING AUTHOR OF THE INTELLIGENT ASSET ALLOCATOR Praise for The Birth of Plenty: "Bill Bernstein has given us a compact and immensely readable economic, political, military, and institutional history of our civilization that is a tour de force. Put everything else down. Take a deep breath. Open The Birth of Plenty. And prepare to be amazed. --John C. Bogle, Founder and Former CEO, The Vanguard Group "The Birth of Plenty is a brilliantly written, whirlwind account of how the modern world was formed. It is a hugely enjoyable read, full of vigor and liveliness, and a book every American should possess--at least those who treasure our abundant life and care about our future." --William Schultheis, Author, The Coffeehouse Investor "Put simply, this is my favorite economic history book. It gathers what is interesting about economic history to draw important lessons." --Ed Tower, Professor of Economics, Duke University "William Bernstein scrutinizes the research literature, distills it with originality and insight, then shares the results with classic Bernstein clarity and wit. Ideologues on both political wings should prepare to have their assumptions challenged." --Bernard Sherman, Host, Talk of Iowa - Focus on Financeradio show A daring look at the development of human prosperity--how it was created, and where it's headed In the breakthrough spirit of Against the Gods, William Bernstein's The Birth of Plentyhas the topical uniqueness and storytelling panache to literally create its own category and reader. Based upon the premise that mankind experienced virtually zero economic growth from the dawn of time until 1820, this provocative, bigpicture book identifies the four conditions necessary for sustained economic progress--property rights, scientific rationalism, capital markets, and communications and transportation technology-- and then analyzes their gradual appearance and impact throughout every corner of the globe. Filled with bestselling author William Bernstein's trademark meticulous research and page-turning writing style, The Birth of Plentyexplores: Where the world economy could be headed next Implications of the book's thesis for today's society How the absence of one or more of the conditions continues to threaten beleaguered regions Rare is the book that proposes an entirely new premise, validates that premise with inarguable research and analysis, and then explains beyond question both the relevance and the implications of its premise to the reader and the world at large. The Birth of Plentyis just such a book. From its unique, topical subject matter to its tremendous review potential, this insightful book will be one of the most talked-about volumes of the publishing season.

Author Biography

William Bernstein, Ph.D., M.D. (North Bend, OR) founded the popular website efficientfrontier.com. A practicing neurologist and the author of The Intelligent Asset Allocator and The Four Pillars of Investing, Dr. Bernstein has an intensely loyal following of readers as well as an extensive network of media contacts. He is often quoted in The Wall Street Journal and is a frequent guest columnist for Morningstar.

Table of Contents

Preface	vii
Introduction	1	(8)
SECTION I---THE SOURCES OF GROWTH
A Hypothesis of Wealth	9	(42)
Property	51	(40)
Reason	91	(34)
Capital	125	(36)
Power, Speed, and Light	161	(28)
Synthesis of Growth	189	(6)
SECTION II---NATIONS
The Winners---Holland and England	195	(38)
Runners-Up	233	(40)
The Last	273	(24)
SECTION III---CONSEQUENCES
God, Culture, Mammon, and the Hedonic Treadmill	297	(38)
The Great Trade-Off	335	(14)
Mammon and Mars: The Winner's Curse	349	(24)
The End of Growth?	373	(6)
When, Where, and Whither	379	(8)
Notes	387	(16)
Index	403