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The End of Poverty: Economic Possibilities for Our Time

The End of Poverty: Economic Possibilities for Our Time
By Founders Podcast • Issue #20 • View online
Today’s book is The End of Poverty: Economic Possibilities for Our Time by Jeffery Sachs. Here are 10 popular highlights from the book:
1. Extreme poverty means that households cannot meet basic needs for survival.
2. British society was relatively open, with more scope for individual initiative and social mobility than most other societies of the world.
3. Technology has been the main force behind the long-term increases in income in the rich world, not exploitation of the poor.
4. Moderate poverty generally refers to conditions of life in which basic needs are met, but just barely.
5. The poverty trap is mainly a rural phenomenon of peasant farmers caught in a spiral of rising populations and stagnant or falling food production per person.
6. The confrontation between rich and poor was very stark because the gap of wealth also meant the gap of power, and power could be used for exploitation.
7. The biggest difference between Africa and Asia is that Asia has had high and rising food production per capita during recent decades, whereas Africa has low and falling food production per capita.
8. Britain remained sovereign and faced lesser risk of invasion than its neighbors.
9. Britain had coal, and with the invention of the steam engine, coal freed society from energy constraints that had limited the scale of economic production throughout human history. 
10. I believe that the single most important reason why prosperity spread, and why it continues to spread, is the transmission of technologies and the ideas underlying them.

 

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