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‘If I had to summarise the essence of what economic history can contribute to economic science, I would say that there exist no “laws” or rules in economics which are valid for all periods of history.’ Paul Bairoch,
How Asia Works
Joe Studwell
It may be that, more than education leading to economic progress, economic progress leads families to educate their children, which in turn makes more economic progress possible.
How Asia Works
Joe Studwell
On 15 September 1830, the first commercial railway line was opened, connecting Liverpool with Manchester. The trains moved under the same steam power that had previously pumped water and moved textile looms. A mere twenty years later, Britain had tens of thousands of miles of railway tracks.1 Henceforth, people became obsessed with the idea that machines and engines could be used to convert one type of energy into another. Any type of energy, anywhere in the world, might be harnessed to whatever need we had, if we could just invent the right machine. For example, when physicists realised that an immense amount of energy is stored within atoms, they immediately started thinking about how this energy could be released and used to make electricity, power submarines and annihilate cities. Six hundred years passed between the moment Chinese alchemists discovered gunpowder and the moment Turkish cannon pulverised the walls of Constantinople. Only forty years passed between the moment Einstein determined that any kind of mass could be converted into energy – that’s what E = mc2 means – and the moment atom bombs obliterated Hiroshima and Nagasaki and nuclear power stations mushroomed all over the globe.
Sapiens
Yuval Noah Harari
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