There Are No Shortcuts to Economic Development

The financial and economic crisis that unfolded across the globe after the 2008 sub-prime meltdown was not just another cyclical bump in the conquering advance of modern capitalism. It was — and still is — a symptom of the exhausted 20th-century way of envisioning the best path to economic growth, consumer satisfaction, and efficient production of goods. Environmental limits to our race to prosperity are just part of the story. The other, and crucial, part is the ongoing technologic ...