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The Lever of Riches: Technological Creativity and Economic Progress [Paperback]

Joel Mokyr
3.8 out of 5 stars  See all reviews (17 customer reviews)

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Book Description

April 9, 1992 0195074777 978-0195074772
In a world of supercomputers, genetic engineering, and fiber optics, technological creativity is ever more the key to economic success. But why are some nations more creative than others, and why do some highly innovative societies--such as ancient China, or Britain in the industrial revolution--pass into stagnation?
Beginning with a fascinating, concise history of technological progress, Mokyr sets the background for his analysis by tracing the major inventions and innovations that have transformed society since ancient Greece and Rome. What emerges from this survey is often surprising: the classical world, for instance, was largely barren of new technology, the relatively backward society of medieval Europe bristled with inventions, and the period between the Reformation and the Industrial Revolution was one of slow and unspectacular progress in technology, despite the tumultuous developments associated with the Voyages of Discovery and the Scientific Revolution.
What were the causes of technological creativity? Mokyr distinguishes between the relationship of inventors and their physical environment--which determined their willingness to challenge nature--and the social environment, which determined the openness to new ideas. He discusses a long list of such factors, showing how they interact to help or hinder a nation's creativity, and then illustrates them by a number of detailed comparative studies, examining the differences between Europe and China, between classical antiquity and medieval Europe, and between Britain and the rest of Europe during the industrial revolution. He examines such aspects as the role of the state (the Chinese gave up a millennium-wide lead in shipping to the Europeans, for example, when an Emperor banned large ocean-going vessels), the impact of science, as well as religion, politics, and even nutrition. He questions the importance of such commonly-cited factors as the spill-over benefits of war, the abundance of natural resources, life expectancy, and labor costs.
Today, an ever greater number of industrial economies are competing in the global market, locked in a struggle that revolves around technological ingenuity. The Lever of Riches, with its keen analysis derived from a sweeping survey of creativity throughout history, offers telling insights into the question of how Western economies can maintain, and developing nations can unlock, their creative potential.

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Editorial Reviews

Review

"An excellent volume outlining in great detail, yet wide ranging in scope, the role of technological change in history. Will make a great supplemental text for our future World Economic History course that I'll be teaching."--Michael Haupert, Univ. of Wisconsin-LaCrosse

"Mokyr has demonstrated, yet again, that he is one the best economic historians around. His book is a treasure trove of facts and insights about technological progress often overlooked in other accounts. Further, his argument that economics might do well to adopt the methodology of evolutionary biology instead of the standard application of Newtonian physics is cogent and convincing."--Howard Bodenhorn, St. Lawrence Univ.

"An informative and well-written study of humankind's progress."--J.M. Skaggs,Wichita State Univ.

"The history and the examples Mokyr uses are a delight to read."--Business Week

"Joel Mokyr is a first-rate scholar who has read a wide body of literature. The book is very well written, lively and engaging. It is closely reasoned and well executed"--Nathan Rosenberg, Stanford University

"Joel Mokyr likes telling his story and he tells it well; his book makes for good reading and rereading, and this in itself sets him apart from many of his fellow economic historians."--The New York Times Book Review

"[Mokyr's] examples are so comprehensive, his knowledge so detailed, and his conclusions so broad and firmly drawn that the reader comes away full of insight."--The Christian Science Monitor

"[A] rich, subtly flavored buffet of theories, ideas, insights and examples."--Wall Street Journal

"Lucid and accessible."--Reason

"Raise[s] some very insightful questions."--Informationweek

About the Author


Joel Mokyr is Professor of Economics and History at Northwestern University, and is the author of Why Ireland Starved, The Economics of the Industrial Revolution, and other books in economic history.

Product Details

  • Paperback: 368 pages
  • Publisher: Oxford University Press, USA (April 9, 1992)
  • Language: English
  • ISBN-10: 0195074777
  • ISBN-13: 978-0195074772
  • Product Dimensions: 5.3 x 0.7 x 7.9 inches
  • Shipping Weight: 8 ounces (View shipping rates and policies)
  • Average Customer Review: 3.8 out of 5 stars  See all reviews (17 customer reviews)
  • Amazon Best Sellers Rank: #393,214 in Books (See Top 100 in Books)

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Customer Reviews

3.8 out of 5 stars
(17)
3.8 out of 5 stars
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Most Helpful Customer Reviews
23 of 24 people found the following review helpful
5.0 out of 5 stars An Invaluable Frame of Reference January 12, 2000
Format:Paperback
According to Joel Mokyr, economic growth is the result of four distinct processes: Investment (increases in the capital stock), Commercial Expansion, Scale or Size Effects, and Increase in the Stock of Human Knowledge (which includes technological progress proper as well as changes in institutions). Throughout his brilliant book, he correlates technological creativity with economic progress throughout classical antiquity, the Middle Ages, the Renaissance, the Industrial Revolution, and then into the later 19th century.

In Chapter 12 ("Epilogue"), he further develops what is assuredly an invaluable frame-of-reference within which to understand our own time. Why does technological creativity occur? There are two components in the invention-innovation sequence: "technical problems involve a struggle between mind and matter, that is, they involve control of the physical environment." The other component is social: "For a new technique to be implemented, the innovator has to react with a human environment comprised of competitors, customers, suppliers, the authorities, neighbors, possibly the priest."

This brief commentary has only inadequately suggested the scope and depth of Mokyr's rigorous inquiry into technological creativity and its contributions to economic progress. In weeks and months to come, there will be new "levers" which help to create new "riches." The historical context within which Joel Mokyr places these opportunities is a contribution of incalculable value.

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23 of 26 people found the following review helpful
Format:Paperback
The fall of the Berlin Wall did more than free Eastern Europe; it also freed historians from the somewhat chilling influence of Marxism and post-modernism. By the late 1990s, a new flowering of grand economic history had brought us David Landes's "the Wealth and Poverty of Nations" and Jared Diamond's sublime "Guns, Germs and Steel". But before them came 1990's "The Lever Of Riches", with Joel Mokyr setting out in wonderful detail the notorious economic mystery story called technological progress.

Mokyr starts with the technologies of Greek and Roman antiquity, then moves on to the neglected breakthroughs of Western Europe's Dark Ages (the horseshoe, the horse collar, the waterwheel) and the Islamic Golden Age. But his history naturally centres on the Western European technological flowering that began around 1400.

He caps this narrative with an ambitious discussion of an issue he regards as central to the mystery of technological development: the relative decline of China, the pre-eminent technological power of the centuries up to 1400.

Mokyr, writing before the upsurge of interest in complex adaptive systems, ends the book comparing technological progress with biological evolution. The attempt is only partially successful, but you feel he's opening a new chapter of debate. "A society that has ceased to concern itself with the progress of the past will soon lose belief in its capacity to progress in the future," he concludes. And he's right.

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19 of 21 people found the following review helpful
4.0 out of 5 stars Fine Overview and Critical Analysis April 8, 2001
Format:Paperback
This very interesting but relatively brief book is devoted to the role of technological innovation in economic history. In a series of well written and very well referenced chapters, Mokyr discusses the role of technological innovation as a motor of economic growth and social transformation. Topics covered include a general discussion of technological innovation and growth, narrative chapters on technological innovation in the Classical world, Medieval Europe, Renaissance Europe, and the Modern world up to about 1850, discussions of why China and Classical civilization failed to develop an industrial civilization, and a discussion of the analogy between technological innovation and organic evolution. This is a work of synthesis; Mokyr presents little novel information and draws heavily on an impressive body of existing scholarship. Mokyr presents some interesting and important conclusions. Technological innovation is not driven primarily by ordinary market forces. The Industrial Revolution was the culmination in many centuries of technological innovation dating back to the Middle Ages. The failure of China to develop an Industrial Revolution remains a persistent puzzle. By about 1400, Chinese civilization was the world leader in many key technologies but then slides back and is eventually overtaken and then explosively surpassed by Europe. An important point made by Mokyr is that no nation or culture was a perpetual locus of technological innovation. In Europe, innovations were most common in Italy during the Renaissance, followed by major sites in the Low Countries and Germany, followed by the British explosion. Europe, with its divided polities, may have been more conducive to the development of industrial technology. European intellectual and scientific traditions may also have favored the emergence of industrial technology. Whatever factors responsible, Mokyr concludes that the emergence of industrial technology was probably an unusual and highly contingent event. This is similar to the conclusion reached by Kenneth Pomerantz in his recent book, The Great Divergence, an explicit comparison of economic development in China, Japan, and Europe. These conclusions and analyses completely undermine the common and facile notions of European capitalism leading automatically to the success of European culture.
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Most Recent Customer Reviews
5.0 out of 5 stars An Additional Observation
This is an impressive book. It has been well reviewed, and I shan't attempt to be comprehensive in my comments. Read more
Published 3 months ago by Jerry Ward
5.0 out of 5 stars A Set of Sound Explanations to the Technological Progress Phenomenon
Joel Mokyr's Lever of Riches is a book on technological creativity. Throughout his book Mokyr searches for the variables that affect the technological change. Read more
Published on December 1, 2010 by Serdar Torun
5.0 out of 5 stars Great Development
Excellent historical references and socio-economic conclusions.
This book is a must-have. Highly recommended.
Published on October 12, 2010 by Jaime Valcarcel
4.0 out of 5 stars Why were and are some societies so creative, while others are not?
Why were and are some societies so much more creative than others? Joel Mokyr, well known economic historian, tackles this important question. Read more
Published on August 16, 2010 by R.S.Sundaresh
5.0 out of 5 stars great review by a great scholar
Joel Mokyr is one of the foremost experts in the technological dimensions of the industrial revolution. Read more
Published on February 4, 2010 by Dominick G. Bartelme
2.0 out of 5 stars Boring
This was another book required by my European Economic History class. While there is a ton of useful information in this book, it didn't feel like there were any original insights... Read more
Published on February 5, 2008 by Joseph Fung
4.0 out of 5 stars More than a historical explination of innovation!
This book is an in-depth study in why technological Creativity happens. Mokyr is doing more than just discussing history; he is giving it intellectual context. Read more
Published on November 22, 2007 by Jonathan L. Wilson
5.0 out of 5 stars The Economics of Progress
This is an important book about the historical process that not so long ago was unashamedly called "progress. Read more
Published on March 29, 2006 by Hiram Caton
4.0 out of 5 stars Great Information -- And Read the Reviews Too
This is a scholarly and fact-focused treatment of a subject that has often been treated in a way that is meant to support a particular author's theoretical framework. Read more
Published on December 27, 2004 by Daniel G. Currell
4.0 out of 5 stars Understanding the history of wealth
Understanding topics of human achievement often means understanding their history. Such is the case when we investigate the creation of unprecedented wealth during the last... Read more
Published on November 6, 2004 by Koen Robeys
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