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“Think of human development as a long journey. At the beginning, we live at the mercy of nature. Dependent on its bounty, we pray for rains and freedom from natural disasters and plagues. At the end of the journey, nature lives at our mercy. We use science and technology to release new wealth and remake the planet. Today, as humans implant themselves with microchips, install artificial organs and plan Mars colonies, we even aim for a ‘singularity’ that will lift us out of nature once and for all.
Economists began to compose the narrative of this odyssey, from subjection to dominion, in the 1700s. Once it became apparent that Europe had broken with millennia of stasis to begin a long period of rising growth – the same through which we are still living – political economists abandoned philosophical reflection to draft roadmaps to development.
Two broad types emerged. One approach described the walk, the other the walker. The first presumed that the context in which we made the journey – the natural environment, the institutions, the culture, the legal and political systems – determined the direction of the path. In this model, the government bore responsibility to build the path so that it could accommodate as many people as possible. Progressive taxation was simply an investment in social prosperity, key to maintaining an ascendant society and a reasonable return payment from those who had most benefitted.”
JJ Editor's Picks
"Congratulations, Mr. President. It took an extraordinary effort, but you finally managed to spark a serious global crisis. I know you don’t like to share credit, but don’t worry. The current mess in the Middle East centered around Iran is all..."
"We’re approaching the anniversary of one of the nastiest political battles it has been my misfortune to witness—the confirmation of Brett Kavanaugh to the Supreme Court despite credible accusations of sexual harassment and assault and his..."
"There are few one-offs in life on Earth—rarely can a single species boast a trait or ability that no other possesses. But human language is one such oddity. Our ability to use subtle combinations of sounds produced by our vocal cords to create..."
"He walked through the coffee shop door and scanned the crowd. A familiar smile bloomed as he recognized me, despite how my appearance had changed over the years. I’m bald and bearded now, and heavier. I wear an extra decade on my face, and I’m..."
"The poverty rate in the United States fell to 11.8 percent in 2018, according to data released last week by the Census Bureau — the lowest it’s been since 2001. But this estimate significantly understates the extent of economic deprivation in..."
"Streaming is the future of TV. But for now a big part of the streaming business revolves around old TV shows. Latest case in point: Netflix is paying a lot of money for the rights to show Seinfeld to its 150 million subscribers around the world..."
"On the eve of the second Israeli election of 2019, there is no shortage of apocalyptic rhetoric about the potential consequences of Prime Minister Benjamin Netanyahu’s re-election. From the New York Times' editorial column to The Forward’s..."
"Is there a backlash toward the technology industry in the culture? I tend to think so, having written about its various twists and turns most weekdays for the past couple years now. But sometimes an obsession with a beat can lead to myopia, and..."