Friday, August 21, 2020

More free

(cont'd from yesterday's post)

Economic freedom brought historic prosperity to the West where it began, according to yesterday's graph, in the 1500's. But economic freedom in varying degrees began to spread to other regions and they prospered too. It didn't happen all at once, but grew slowly until the trend took off a couple hundred years ago. Hence the hockey stick effect.

"[R]eal average global income per person rose by factor of 10 over the last 200 hundred years . . ."

Why is freedom so good for prosperity? When people are free to pursue their talents/strengths/ideas, their accomplishments escalate and improve lives. All of us benefit, eventually even to some extent in regions less free.



No comments:

Post a Comment