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Self-sustaining industrialization took off just once in human history, in Britain in the eighteenth and early nineteenth centuries. All other industrialization since then are descendants of the technologies, corporate laws, and financial mechanisms of Britain’s breakthrough. Before Britain’s industrial revolution, other places had developed industr
... See moreJeffrey D. Sachs • The Ages of Globalization: Geography, Technology, and Institutions
The move to agriculture resulted in the emergence of property. Before that, there was no sense of private property since there was no need. But when you spend a year growing a field of corn, you don’t want someone else to come along and eat it.
James Dale Davidson • The Sovereign Individual: How to Survive and Thrive During the Collapse of the Welfare State
Government operated through coercion, clumsiness, and deceptive intention; the invisible hand of the market, however, was the realm of freedom, choice, and possibility.
Glory M. Liu • Adam Smith’s America: How a Scottish Philosopher Became an Icon of American Capitalism
Adding fuel to this fire was an unprecedented wave of government support for innovation. Guo’s mission to build the Avenue of the Entrepreneurs was just the first trickle of what in 2014 turned into a tidal wave of official policies pushing technology entrepreneurship. Under the banner of “Mass Innovation and Mass Entrepreneurship,” Chinese mayors
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