Humanity acquired almost all of its wealth during the last two centuries. How did this happen? How did the world become rich?

Mark Koyama and Jared Rubin examine in depth theories about why modern economic growth occurred in a specific place and time. They explore recent theories based on geography, politics, culture, demography, and colonialism. Elements of each help explain key events on the path to modern wealth. Why did the Industrial Revolution start in 18th century Britain?

Why did certain European countries, the USA, and Japan make the leap in the 19th century? Why did we have to wait until the late 20th and the 21st century for other countries? Why have some still not closed the gap?

There appear to be certain conditions that all successful economies meet. The authors demonstrate that a society’s past, its institutions, and its culture play a decisive role in how it can – or cannot – develop.