Federico Ast

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The productivity revolution started with agriculture. Agricultural inventions increased productivity, which reduced the labor intensity of farming. It also made food more plentiful and cheaper, which led to a population boom. Together these forces led to people flocking to cities, which benefited industry from the steadily increasing supply of labor. The Industrial Revolution was driven not only by the creation of brand-new inventions like the steam engine but also by adapting and improving on existing concepts to make production more efficient, such as standardizing inputs and moving ...more
Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail
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