In his work The Wealth and Poverty of Nations: Why Some Are So Rich And Some So Poor, Landes offers an extensive overview of the history of global economy as he investigates the factors that create disparities in the prosperity of nations. In doing so, Landes employs both theoretical and empirical cases of the economic development that various states have gone through over the past two thousand years. Throughout his analysis, Landes uncovers an interaction between technological progress and economic prosperity. Believing that Britain’s Industrial Revolution in the eighteenth century was the pinnacle of prosperity, he argues that the country was able to achieve this prosperity because it could move away from customary methods of production (p.200).
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Explaining his claim that European prosperity came about due to the favourable conditions that existed in Europe, he uses the relationship between the Atlantic trade system and Europe’s industrialization. In his opinion, setting up species plantation and engaging in the trade of slaves were not necessary nor sufficient factors to trigger European industrialization (p.116). He saw Britain as intrinsically holding all necessary circumstances for a flourishing Industrial Revolution. Hence, the Industrial Revolution would have unfolded even if there had not been an Atlantic trade system (p.118). This statement might not do justice to the economic developments and capabilities that transpired in the non-European world but serves Landes’ purpose. He aims to create an account of dispelling the prevalent dependence theory that presumes a system where resources from poor states are transferred to wealthier states enriching the latter over the former. Landes’ extensive analyses of economic progress in various historical case studies not only clearly defines the dynamics that underpinned European industrialization, but also triggered responses from other historians and thus contributed to the general academic …show more content…
Landes does so in a way that is described as being ‘lucid’ and ‘with wit’. Moreover, his extensive descriptions and use of a wide variety of memorable anecdotes account for a comprehensive account of global economic development throughout history. Nevertheless, Landes did receive criticism for having a lacking understanding of modern trade and development, and hence did not do justice to the economies of developing ‘Third World’ countries. Moreover, his use of historical cases is sometimes seen as ambiguous as Landes points out that an unrestricted free market is a necessary condition for economic development (p.375). However, Becker indicates that Japan and Britain both employed protectionist measures during early periods of development and only started adhering to the laissez-faire principle after they attained industrial leadership. However, all in all, this book was received as a valuable contribution to the field because of its clear connections between culture and
Explaining his claim that European prosperity came about due to the favourable conditions that existed in Europe, he uses the relationship between the Atlantic trade system and Europe’s industrialization. In his opinion, setting up species plantation and engaging in the trade of slaves were not necessary nor sufficient factors to trigger European industrialization (p.116). He saw Britain as intrinsically holding all necessary circumstances for a flourishing Industrial Revolution. Hence, the Industrial Revolution would have unfolded even if there had not been an Atlantic trade system (p.118). This statement might not do justice to the economic developments and capabilities that transpired in the non-European world but serves Landes’ purpose. He aims to create an account of dispelling the prevalent dependence theory that presumes a system where resources from poor states are transferred to wealthier states enriching the latter over the former. Landes’ extensive analyses of economic progress in various historical case studies not only clearly defines the dynamics that underpinned European industrialization, but also triggered responses from other historians and thus contributed to the general academic …show more content…
Landes does so in a way that is described as being ‘lucid’ and ‘with wit’. Moreover, his extensive descriptions and use of a wide variety of memorable anecdotes account for a comprehensive account of global economic development throughout history. Nevertheless, Landes did receive criticism for having a lacking understanding of modern trade and development, and hence did not do justice to the economies of developing ‘Third World’ countries. Moreover, his use of historical cases is sometimes seen as ambiguous as Landes points out that an unrestricted free market is a necessary condition for economic development (p.375). However, Becker indicates that Japan and Britain both employed protectionist measures during early periods of development and only started adhering to the laissez-faire principle after they attained industrial leadership. However, all in all, this book was received as a valuable contribution to the field because of its clear connections between culture and