Scan barcode
A review by _walter_
Electrify: An Optimist's Playbook for Our Clean Energy Future by Mark Koyama
3.0
TL;DR: Rubin and Koyama’s "How The World Became Rich" attempts to cram the leading theories of economic development into fewer than 260 pages, examining their merits through history’s lens. They emphasize technological innovation and global market competition as key drivers of sustained growth, with Britain’s Industrial Revolution as the poster child. Rejecting simplistic explanations, they advocate for a more holistic approach to understanding economic development. How novel.
The authors make a compelling case that while many regions experienced economic growth spurts, none achieved sustained growth until the magic combination of five factors aligned:
1. Institutions: Inclusive governance, property rights, rule of law. Acemoglu fans, rejoice!
2. Culture: Innovation-friendly attitudes, education, and open-mindedness.
3. Geography: Resources, trade routes, and favorable climates (with an institutional assist).
4. Demography: Declining birth and death rates, plus the ever-popular European Marriage Pattern.
5. Colonialism: A wealth booster, but apparently not the golden ticket without those pesky supportive institutions.
Part One surveys these leading theories and their heroes, while Part Two attempts to weave them into a coherent development tapestry, with Britain as the lead thread.
The book is exasperating at times, as the authors' quest for impartiality and comprehensiveness results in a citation tennis match: “These guys said this, but this other guy disagrees (A Few Guys, 1998; Another Guy, 1999).” If Koyama and Rubin had the courage to drop their academic shields for a moment and share their actual thoughts, this could have been a far more engaging read. It feels as if every other sentence is a hedge against the preceding one.
Look, I get it. Pinning down the reasons for sustained economic development is like herding cats in a thunderstorm. But at some point, take a stand! This cafeteria approach to development theory, where everyone gets a participation trophy, feels like a cop-out. It all makes sense, but when everyone is a little right and no one is completely wrong, nothing is very compelling. I am extremely surprised they did not include behavioral economics as one of their factors, you know, just in case.
In summary, if you’re looking for a crash course in economic development theories and their historical context, this book fits the bill. Just don’t expect a page-turner.
The authors make a compelling case that while many regions experienced economic growth spurts, none achieved sustained growth until the magic combination of five factors aligned:
1. Institutions: Inclusive governance, property rights, rule of law. Acemoglu fans, rejoice!
2. Culture: Innovation-friendly attitudes, education, and open-mindedness.
3. Geography: Resources, trade routes, and favorable climates (with an institutional assist).
4. Demography: Declining birth and death rates, plus the ever-popular European Marriage Pattern.
5. Colonialism: A wealth booster, but apparently not the golden ticket without those pesky supportive institutions.
Part One surveys these leading theories and their heroes, while Part Two attempts to weave them into a coherent development tapestry, with Britain as the lead thread.
The book is exasperating at times, as the authors' quest for impartiality and comprehensiveness results in a citation tennis match: “These guys said this, but this other guy disagrees (A Few Guys, 1998; Another Guy, 1999).” If Koyama and Rubin had the courage to drop their academic shields for a moment and share their actual thoughts, this could have been a far more engaging read. It feels as if every other sentence is a hedge against the preceding one.
Look, I get it. Pinning down the reasons for sustained economic development is like herding cats in a thunderstorm. But at some point, take a stand! This cafeteria approach to development theory, where everyone gets a participation trophy, feels like a cop-out. It all makes sense, but when everyone is a little right and no one is completely wrong, nothing is very compelling. I am extremely surprised they did not include behavioral economics as one of their factors, you know, just in case.
In summary, if you’re looking for a crash course in economic development theories and their historical context, this book fits the bill. Just don’t expect a page-turner.