Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
To get the free app, enter your email address or mobile phone number.
From Poverty to Prosperity: Intangible Assets, Hidden Liabilities and the Lasting Triumph over Scarcity Hardcover – November 17, 2009
Frequently Bought Together
Customers Who Viewed This Item Also Viewed
Their research is the subject of an important new book called From Poverty to Prosperity,” by Arnold Kling and Nick Schulz."
&mdash David Brooks in the New York Times, Dec 22 2009
&mdash Newt Gingrich, former Speaker of the House, author of Real Change
"A fascinating blend of interviews and perspectives on where economics and the economyis heading. A must read for anyone who thinks economists are out of touch with today's reality or don't have competing compelling visions for the future."
&mdash Simon Johnson, Ronald Kurtz Professor of Entrepreneurship at MIT’s Sloan School of Management, former chief economist at the IMF
About the Author
NICK SCHULZ is DeWitt Wallace Fellow at the American Enterprise Institute and Editor of American.com. He is a columnist for The Mint newspaper in Mumbai, India. His writings have appeared in the Wall Street Journal, the Los Angeles Times, the Washington Post, Slate, Forbes.com, among others. He lives with his wife and children in Maryland.
If you’re the author, publisher, or rights holder of this book, let ACX help you produce the audiobook.Learn more.
Top Customer Reviews
So say Arnold King and Nick Schulz in their new book, which may make a lot of readers think differently about the importance of national borders.
The authors quote the director emeritus of the McKinsey Global Institute, William Lewis: "We compared the construction industry in the U.S. with construction in Brazil and found that in Houston, the U.S. industry was using Mexican agricultural workers who were illiterate and didn't speak English. They were not any different than the agricultural workers who were building similar high rises in Sao Paolo, say. And yet they were working at four times the productivity."
More differences as a result of borders: The book reproduces a chart of per capita GDP in 1997 that places North Korea at $700, South Korea at $13,590. Communist China's GDP was $3,130 per capita, while Taiwan's was $14,170.
What accounts for the differences between countries with similar populations or geographies? The authors chalk it up to a kind of "software" that encourages entrepreneurship and growth: property rights, the rule of law, a government that isn't too intrusive. A strength of this book, though, is that rather than offering exclusively their own ideas, the authors get out and do some reporting, interviewing professors who have thought about these issues, including four Nobel laureate economists: Robert Fogel, Robert Solow, Douglass North, and Edmund Phelps.
Sometimes the people the authors interview say interesting things.Read more ›
The authors believe that, in the future, the greatest improvements in living standards will come from ideas and inventions. They emphasize the role of innovation and describe some of the societal conditions that encourage it, such as strong property rights and the rule of law, and also describe other "rent-seeking" activities that stifle innovation, such as lobbying and the propping up of obsolete functions, activities that introduce distortions into the economy.
Trends in modern economics are examined, such as the move away from hard mathematical models toward a more sociological-based approach.
Because advances in the future will be innovation-driven, the question of intellectual property rights and how strongly they should be protected will come to the fore, and Kling and Schulz look at that important debate.
A great part of the book consists of interviews that the authors conduct with leading economists discussing these developments and issues, and there are numerous charts concerning GDP per capita, health, leisure, and life expectancy that show how well-off we are compared to the past. The book is a good study of where economics is going and is an important reminder of the importance of free markets, private property, and innovation.
The tables in Chapter 2 show how dramatically human wealth and welfare have improved over the past several centuries. The rest of the book explains some of the reasons for the improvement. In between the chapters are interviews with various economists, all of which are fresh and stimulating.
Ultimately the book makes a powerful case for viewing the economy as far more dynamic and creative than most of us appreciate. Wider understanding of the ideas in this book would go a long way toward improving the quality of our political discourse and our future prosperity.
Most Recent Customer Reviews
I have not fully read this book all the way through but I have read so far I am impressed with some of the knowledge and insight I have gained by reading it.Published on March 2, 2013 by Terry
The items are somewhat outdated but the fundamental concepts still hold valid. Glad to buy this product from Amazon.com. This product does what it is suppose to! Read morePublished on January 18, 2013 by Elvis
Great views on what is important in bringing economic growth. Also great to hear more from a number of economic minds of today.Published on January 15, 2013 by Stephen
The authors do well in describing the contributions of intangible capital to the poverty and prosperity of nations, and the implications thereof. Read morePublished on January 17, 2011 by Paul Carbone
i am a loyal reader of arnold's on his blog. There is a lot here that he doesn't post on econlog. I really enjoyed this.Published on December 26, 2010 by David Wright
Let's say there's an apple. I want to eat the apple and you want to eat the apple. Both of us can't eat the same apple. We can divide it. We can determine who is more hungry. Read morePublished on June 29, 2010 by Joseph Sunde
I found this book largely irrelevant to today's economic reality. Authors write a lot about people living much better now than hundreds of years ago and this is because of... Read morePublished on April 17, 2010 by Alexander Gorobets