How the World Became Rich Quotes

“One key component of institutions is the degree to which they permit economic freedom. The more economic freedom a society has, the more individuals are free to allocate their resources as they see fit. Economic freedom is closely associated with the rule of law. When a society follows the rule of law, laws are applied equally and all types of rights are protected. This of course includes economic rights. Economic freedom is strongly correlated with per capita income”
― Mark Koyama, How the World Became Rich: The Historical Origins of Economic Growth

“The relative impartiality of courts, in turn, encourages economic activity. When people know they have legal recourse should their partner cheat them, they are more likely to engage in exchange.”
― Mark Koyama, How the World Became Rich: The Historical Origins of Economic Growth

“The outsized importance of religious authorities in Muslim societies also meant that rulers supported religious education at the expense of secular and scientific learning.”
― Mark Koyama, How the World Became Rich: The Historical Origins of Economic Growth

“university graduates in Protestant regions took more public sector jobs, and construction shifted from religious to public and administrative buildings.”
― Mark Koyama, How the World Became Rich: The Historical Origins of Economic Growth

“The parliaments of northwestern Europe, especially in England and the Netherlands, became strong around the time when economic growth accelerated.”
― Mark Koyama, How the World Became Rich: The Historical Origins of Economic Growth