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The first intervention – and the most overlooked – is to maximise output from agriculture, which employs the vast majority of people in poor countries. Successful east Asian states have shown that the way to do this is to restructure agriculture as highly labour-intensive household farming – a slightly larger-scale form of gardening.
How Asia Works
Joe Studwell
In order to increase the number of potential investors and reduce the risk they incurred, Europeans turned to limited liability joint-stock companies. Instead of a single investor betting all his money on a single rickety ship, the joint-stock company collected money from a large number of investors, each risking only a small portion of his capital. The risks were thereby curtailed, but no cap was placed on the profits. Even a small investment in the right ship could turn you into a millionaire.
Sapiens
Yuval Noah Harari
The earth’s surface measures about 200 million square miles, of which 60 million is land. As late as AD 1400, the vast majority of farmers, along with their plants and animals, clustered together in an area of just 4.25 million square miles – 2 per cent of the planet’s surface.
Sapiens
Yuval Noah Harari
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