Business

Basic lessons are the best

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At end of David Landes epic “The Wealth and Poverty of Nations”  he asks the question “And what of the poor themselves?” His response deserves reading as it is as relevant today for Europe as it has ever been. “History tells us that the most successful cures probably come from within. Foreign aid can help, … Read more

Growth Is Good – The Power of Compound Interest

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Buried at the end of David Landes’ ‘The Wealth and Poverty of Nations‘ is a simple and powerful fact that every Finance Minister should remember. “What would such (growth) differences mean for the long run?  A growth rate of 2.8 per cent yields a sixteen fold increase over the course of a century, as against … Read more

A simple way to growth

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I spent the summer on the Baltic coast reading David Landes,  Wealth and Poverty of Nations.  The book should be read. I was struck by an excellent section on why Britain, rather than other countries, reaped economic growth, lifting millions out of dire, gut wrenching poverty. His summary, below, provides a simple, yet not simplistic, … Read more