Ever since Pope Francis wrote “Evangelii Gaudium” I have been open to learning about other possible causes, so I decided I would check this book out. Dr. McCloskey’s basic premise is as follows:
Most people harbor beliefs about the origins of the modern economy that historical and economic science have shown to be mistaken. People believe, for example, that imperialism explains European riches. Or they believe that markets and greed arrived recently. Or they believe that “capitalism” required a new class or a new self-consciousness about one’s class (as against a new rhetoric about what an old class did). Or they believe that economic events must be explained “ultimately,” and every single time, by material interests. Or they believe that it was trade unions and government protections that have elevated the working class. None of these is correct, as I hope to persuade you. The correct explanation is ideas.”
She also uses words like “human spirit” and “innovation” to explain how “the average person nowadays earns and consumes almost ten times more goods and services than in 1800” (p. 2).
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