Posted By RichC on May 3, 2014
The LearnLiberty.org YouTube channel is one of the better online
timewasters learning tools when it comes to educational web surfing. I particularly enjoy the variety of subject matters and guests who contribute to making the short and concise content. In the video below, Professor Deirdre McCluskey points out the radical change innovation made in our standard of living and comparative wealth in the “1% of history.” Prior to 1800, we have remained “poor” and, earning adjusted for inflation, remained fix throughout recorded time until two changes in Holland and England happened: economic liberty and social honor for inventors, merchants and manufactures. In the United States such “liberty” caused wages to change from $3/day to $120/day. So looking at the big picture, we are the one-percenters of history and have 99% of the wealth. Check out the video and check out LearnLiberty.org.