Dark green barbarians

Aug 20th, 2008 | By David Harper | Category: Opinion

Craig Emerson: When we look around the world and find that prosperity is rising strongly in some countries but not in others, seekers of the secret formula for success ask why. Lots of temporary causes come into play: oil discoveries, tourism fads such as safari experiences and even countries setting themselves up as tax havens. But these passing influences don’t really tell us what overall government policy approaches will give a country its best chance of success in the prosperity stakes.

Since about 1990 a new body of economic thinking has attributed rising prosperity to the development and application of new ideas. These new growth theorists point out that if the history of the human race were represented by the length of a football field, then living standards were basically unchanged for the entire length of the field other than the last 5cm before the far goal line. But over that last few centimetres, living standards have increased astronomically.

Full article

Related Articles

Tags: , , , , ,

Leave Comment