What's the secret? Can policies "grow" the economy? How do
leaders make their countries prosper? Since the earliest of times,
humans have endeavored to uncover the causes of prosperity. Step by
step, Sabillon tests the principal theories on the causes of
economic growth against the facts of history.
Here, for the first time, the economic statistics of the world
are presented in a rationalized format that allows for an easy
comparison across countries and through time, with a challenge to
those who study them what do the statistics show and what are the
trends, beyond cherished theories that suit various political
Tested against the historical data, textbook
ideas and theories consistently come up short. Such analyses are
highly troubling because they reveal an absence of correlation
between theory and reality.
The data, statistics illustrating the
development of the world economy during the last several centuries,
was extracted from economic, history and economic history books,
from publications of the World Bank, the Organization for Economic
Cooperation and Development, the International Monetary Fund, the
World Trade Organization, the United NationsÂ specialized agencies,
research institutes and country statistical publications, and other
books and journals.
Analyzing the data over geography and time,
Sabillon concludes that contrary to contemporary wisdom, left to
market forces alone the economy will not and does not flourish.
Only decisive intervention in support of manufacturing and
technological advancement can provide growth.
This systematic review of history and test of
accepted dogma challenges economic theorists to consider one part
of the equation of economic policy that has been wiped off the
blackboard in todayÂ s politically-correct debates.