Friday 2014-05-09

Economic Revolution: Song China and England by Ronald Edwards

How do you save the benefits of your previous labours, and how do you spend them?

It is difficult to compare the magnitude of these growth rate increases relative to England (1750 – 1850), but this is not essential to the main point. It appears that Song China experienced non-science based modern economic growth – as did England (1750 – 1850). I argue these two episodes with their lack of the extended application of science to problems of economic production and low growth rates of per capita product strongly suggest the existence of two types of modern economic growth.