The Evolution of Wealth: An Economic History of Innovation and Capitalism, the Role of Government, and the Hazards of Democracy

This book first recounts the historical progression of innovation and the evolution of capitalism. It illuminates why capitalist economies have been so effective in producing wealth, and why, after thousands of years of almost no material improvement in average people’s lives, the last 300 or have produced the abundance the capitalist nations enjoy today. It identifies the specific reasons that free market capitalism has been so superior to state-controlled economies. The book also explains why, given capitalism’s clear success, it is so disliked and mistrusted by so many people. With its focus narrowed to the United States, the book then addresses issues in our continuing evolution. It discusses how government’s actions impact economic growth, and how the political system biases those actions toward imprudence and inefficiency. It presents options to alleviate these shortcomings, including suggestions for a much more effective K-12 education industry. This is a short, lean book – just long enough to tell the essential story of the evolution of wealth and convey a broad understanding of how our economy works, it’s problems, and fruitful directions for its future evolution.