Path to success

September 25, 2011

The West’s Killer Apps

September 19, 2011

This Niall Ferguson Ted Talk is worth watching. He contends that the West became the West because of:

(1) Competition,

(2) The Scientific Revolution,

(3) Property rights,

(4) Modern medicine,

(5) The consumer society and,

(6) The work ethic.

The US:China per capita income was about equal in the 1500s. The UK:India per capital income was about equal in 1500. In the 1970s UK:India ratio was about 10 and the US:China ratio about twenty.

His conclusion: the Great Divergence is over, but the West is not necessarily on an imminent path to becoming a has-been.