Sunday, March 16, 2008

The Wealth and Poverty of Nations

The Wealth and Poverty of Nations
David S. Landes
1999 Norton

Another great book I read about the economic history. Full of historical facts. His emphasis on the importance of mechanical clock and eyeglass making is quite mind opening.

At first, it were the Spanish and Portuguese Sailors and conquistadors. Then the English lead the first industrial revolution. French and Germany initiated modern schools for science and technology. The Americans brought the mass production. Japanese perfected the manufacturing products. "Oversea" Chinese built their economic success stories.

The author considers culture as one of the important reasons why some countries are poor and others are rich. Culture is quite convenient to explain a lot of histories. Governance is another major factor.

A good book. Highly recommended.