Most economic theories are what one would call "bounded," which is to say that they are based on a narrow window of human activity, be that time, or place, or category. This limitation produces ideas with middling real-world efficacy, as they cannot be widely applied to, say, the whole of humankind. But, what if an economic theory of everything, a decoder ring for why the condition of our species is the way it is, was possible? What would it look like? How could one idea help us understand the arc of human development all the way from stagnation, to growth, to inequality? Unified Growth Theory, laid out by Oded Galor in his new book, The Journey of Humanity, attempts to answer all of those questions. By studying the arc of human development from the earliest settlements of the fertile crescent to modern day socioeconomics, Galor purports to have solved the mystery of development. What we do with this knowledge, though, is still up to us.

AND by picking up Dr. Galor's book, The Journey of Humanity: The Origins of Wealth and Inequality: https://amzn.to/3WU8GK0

#economics #growth