Reddit reviews The Birth of Plenty: How the Prosperity of the Modern World was Created

Once again, /u/fut- has one of the best posts in this sub. +1.

A book that expands on the idea of wealth inequality and fundamentals for a stable society: "The Birth of Plenty: How the Prosperity of the Modern World was Created."

Countries like Venezuela had profoundly shaky foundations and massive wealth inequality; that's why they broke down.

A meltdown in a place like Sweden, or Canada? You knock on your neighbour's door, they offer you the use of their gas stove, you offer them extra clean water, everyone makes it work.

Given the wealth inequality in the USA, I'm not sure what would happen there but I'm inclined to think it's closer to a "Swedish" than "Venezuelan" outcome.

Ever hear of the book "Guns, Germs, and Steel" by Jared Diamond? Yeah, skip it and get this book: "The Birth of Plenty" by William Bernstein.

The latter does a much better job of answering the same questions, summed up as "why have some societies survived and thrived and others haven't?" Bernstein nails it.

TL;DR: four factors.

1. Property Rights (otherwise why bother innovating if nothing you create is protected from infringement, or if the government can just come in and annex anything they want?)
   
   
2. Scientific Rationalism (antithesis of religious dominance; question everything without fear of religious persecution)
   
   
3. Capital markets (so money can be used to grow businesses and be a credible medium of exchange)
   
   
4. Effective communications & distribution infrastructure (so ideas and goods can flow)

Here is the mobile version of your link