Quotation of the Day…

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… is from page 149 of my GMU Econ colleague Mark Koyama’s, and his co-author Jared Rubin’s, excellent 2022 book, How the World Became Rich:

“How did the world become rich?” The answer to this question begins with Britain’s Industrial Revolution. Britain’s industrialization set in motion a series of events that ultimately resulted in modern, sustained economic growth. Since the first few decades of the 19th century, the world has become richer and billions have been lifted out of poverty. This was due to sustained economic growth.